How does life insurance work with a broker?

First things first, it is important to know what the difference between an agent and broker is.

A captive insurance agent sells life insurance from one insurance company.
An insurance broker sells life insurance form many life insurance carriers.

A captive agent can only sell you life insurance form one carrier.  Captive agents have a contract with one life insurance company which binds them to selling on that life insurance carrier. Captive agents earn varying levels of commission based on which types and how many of this company’s insurance products they sell.

An independent agent will offer you different plans from all different carriers.  The other benefits of choosing an independent life insurance agent is that they can show multiple quotes from varied life insurance companies which allows flexibility.  They can offer you term life insurance, whole life, etc.

Life insurance agents who work for a broker like Cosmo Insurance can show you a range of term life insurance quotes and then submit your application to the an insurance provider on your behalf, saving you time and unnecessary paperwork.

The contemporary life insurance market is way more extensive than a source of income for beneficiaries when catastrophe strikes. With a plethora of options, these plans offer you and your entire family peace of mind, and often give your money investment opportunity to allow you to enjoy the money invested during your lifetime.

Choosing the perfect life insurance plan depends as much on your financial needs as it does on your health class rating. We will assess all factors and guide you through every option until we find the perfect plan for you.



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