blood test came back with THC detected will this be a problem for insurance company with my claim,even though it stays in the bloodstream upto 3 to 4 days and Ive been smoking for 15 years.But was ...
I need dental work done, and I want to buy dental insurance as it is not offered through my company. Can I do that? How much will it cost? What do they look at in order to decide the cost? Where do I ...
My grandmother traded my car in & got me an 06 explorer. They financed it threw C&F fiance Company. The interest rate it 16.99% and the payments are $439.57 for 72 months.
Here is a story .I hired a guy to cut down a tree in my backyard The tree fell down on my garage and destroyed my garage and its' content.The guy ran away and disappeared.I put a claim on it and ...
I have been browsing www.ehealthinsurance.com, but I can't decide. And why don't I see Dental as part of the benefits? My budget is about $500 a month....
If i had two sets of dental insurance can i use them at the same time for the same bill? Additional Details Just so the bill is paid and i don't have to pay for a thing....
If i got term life insurance and a year went by and lets say I was killed in a wreck or a fire or a car i was working on fell and crushed me would the insurance company still pay out since it hasn...
I have insurance policy number-29188385-AXA insrance.but no tel. or address.my friend is in hospital in uk ,he is in a coma,so any info. is from yourselves....
My house was robbed and I'm dealing with the ins company and they're telling me they deduct for depreciation - BUT my understanding was that replacement cost coverage meant there was no ...
Ok, when you're dealing with a brokerage, they typically have several companies they deal with. The brokerage has contracts with these companies. When a premium is paid, the whole thing goes to the company. The company and the brokerage has an agreement on Commission. The commission is paid to the brokerage and then a percentage of that is usually cut to the actual broker who did the sale. this amount is fixed and agreed upon. Hope this makes sense
O Wise One
Rocky, think of it like this. If you are buying a pair of jeans (insurance) You go to a store (Insurance Broker) that has the jeans and may have a variety of styles(types of insurance) from different companies. The store has a sales clerk (insurance agent) that sells you the jeans. The product itself comes from the various companies that manufacture the product (provide the insurance). So ultimately the agent and the broker both work on a commission that comes from the companies that they represent in their place of business. It is all based on percentages (mark-up on the jeans) that are built into the price of the product (insurance). I hope that helps
van_at_lincoln
Ultimately, brokers and agents make money because people purchase coverage through them.
But payment of commission happens both ways. Some companies will only pay commission to the broker once they have received payment. Some companies only require the broker to send in the net premium.
mbrcatz
It can be either. Sometimes they get paid a commission from the insurance company, but sometimes they charge a "brokers fee" to the insured instead of taking commission from the insurance company.
If the client isn't paying a "brokers fee", they can be pretty sure the broker is getting commission (they don't work for free!) but you can ALWAYS ask your broker how they get paid. That's a fair question!
Most state insurance departments prohibit a broker from charging a brokers fee AND collecting commission from the carrier, and if you do charge a brokers fee, you have to have the insured sign a brokers fee disclosure notice.
ricks
Yes.
The clients buys the insurance from the company the broker recomends & the company pays him/her. Never make a payment paid to the person.
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