Traditionally, an insurance agent could only represent one life insurer, one general insurer and one health insurer. However, this model has evolved over time. Today, agents can obtain a point of sale person (POSP) license through online brokers to act as sub-brokers, allowing them to sell policies from multiple companies. Some even choose an insurance marketing firm (IMF) license—a middle-ground between a solo agent and a full-scale broker—to broaden their product range, said Mahavir Chopra, founder of insurance aggregator Beshak.org.
Why finding the right insurance agent matters as much as choosing the best policy
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