ACSC 533 Study Guide - Final Guide: Insurance, Financial Planner, Employee Benefits
31 Mar 2018
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These agents sell small amounts of coverage to the low income market (ex. to cover funeral expenses). This agent is usually more of a collector than a salesperson. They collect small premiums from the insured on a frequent basis. Insurance companies used debit agents" accounts for premiums due from customers. The debit agent system is also known as home service", industrial insurance", funeral insurance", and monthly debit ordinary". Employers recommend to its employees the products of a particular provider through group meetings/ written communications. To attract the support of an employer, a product provider must demonstrate that its products are competitive and of value to the employees. Use distribution channels similar to those used by life insurance companies. Sole agents, independent agents or brokers, direct marketing. Marketing styles for group insurance products may be described by separating products by the size, type of policyholder, and line of coverage.
