Insurance Brokers

While Insurance Agents typically work for the insurance company they represent, Insurance Brokers are independent and work with multiple insurance companies they represent, and not for insurance companies they represent.†

Insurance brokers in the majority of cases can place business with a variety of insurance companies. Commissions are paid from the insurance company where the insurance was placed. Most insurers have similar payout structures however bonus payments do fluctuate based on individual production in many cases.†

The advantage of working with an insurance broker is that they have the ability to source out pricing from multiple insurance companies. However, in many cases insurance brokers tend to migrate to two or three companies for the bulk of their business.

An individualís personal situation will dictate whether an individual is better suited working with an insurance agent or an insurance broker. Insurance brokers, for the most part can access up to date life insurance, disability insurance, critical illness insurance and long-term care insurance quotes within minutes, from multiple insurers.†

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