An insurance salesperson works directly with agents and insurance companies to find customers with the lowest rate and best coverage. Usually paid on commission, an insurance broker is a licensed agent acting as an intermediary in your favor rather than on behalf of the insurer.
Representing numerous insurance carriers, brokers usually sell several different insurance types and must be licensed in each. Also, those who sell life insurance are required to obtain licensing as securities brokers/dealers to offer variable annuities, which are similar to stock market-based investments.
Using an insurance broker allows you to get unbiased information from a third party knowledgeable about insurance. Many people prefer finding coverage in this way, as it bypasses the insurer’s a hard sell and emphasizes finding the right fit for your insurance needs instead.
