One usually buys an insurance policy with the help of an agent or a broker, but did you know the difference between the two?
Insurance agent
This is a person who represents the interests of an insurer. Since an insurer can’t reach out to all customers individually, it hires agents to do this job. Agents are trained and licenced individuals, and as per the rules, can only represent one insurer from a sector. This means that an agent can sell policies of only one life, one non-life and one health insurance company.
