Direct Writing Agent
Definition of "Direct writing agent"
Same as term Captive Agent: representative of a single insurer or fleet of insurers who is obliged to submit business only to that company, or at the very minimum, give that company first refusal rights on a sale. In exchange, that insurer usually provides its captive agents with an allowance for office expenses as well as an extensive list of employee benefits such as pensions, life insurance, health insurance, and credit unions.
Popular Insurance Terms
Insurance policy that combines the characteristics of a debit insurance policy with that of an ordinary life insurance policy. These policies were historically sold by the debit agent. ...
Former arrangement under which retirement benefits payable to an employee who continued to work beyond normal retirement age were frozen, and not increased in recognition of added work ...
Insurance on the life of the employee, paid for by the company, with the company being the beneficiary under the policy. This insurance vehicle is being used more and more to fund ...
new dividend option under which the policyowner allows the dividends from the participating policy to be applied for the purposes of accumulating cash values. ...
disposition of a claim or policy benefit. Policies may specify time limits for payment of claims or benefits and designate various methods of settlement at the option of the insurer or the ...
Retirement plan under which benefits are fixed in advance by formula, and contributions vary. The defined benefit plan can be expressed in either of two ways: Fixed Dollars: Unit benefit ...
Maximum amount that an insurance company will pay under a liability insurance policy for bodily injury incurred by any single person as a result of any one accident. ...
Death from other than accidental means. ...
Right of the policy owner as listed in a policy. An insured has the right to exercise all privileges and receive all benefits of the policy except when restricted by the right of an ...
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