Insurance agent only provide the policy contract after you signed up and paid. Is this same all over the world
2007-07-12 09:52:54 · 5 answers · asked by KenKK 1 in Business & Finance ➔ Insurance
Yes, the policy is a contract. The policies are largely standardized so they do not vary much from company to company or state to state.
2007-07-12 15:48:03 · answer #1 · answered by OPM 7 · 0⤊ 0⤋
A good insurance agent will do follow up yearly with the clients. As over the years, the financial status of the clients changed, and the insurance coverage may need to increase. This also help to bring in more business for the agent.
2007-07-12 16:09:02 · answer #2 · answered by Tan D 7 · 0⤊ 0⤋
An agent usually has authority to "bind" coverage for a limited amount and time. This means they can give you coverage for a short period of time (3-7 days) before submitting to the carrier. However, A good agent would always get a down payment before binding.
I never bind without a payment...or order a policy,. It's only good business sense.
2007-07-12 11:47:14 · answer #3 · answered by DFK 3 · 0⤊ 0⤋
I am not exactly sure what you expected... to have a policy with your name on it, before you gave the insurance company the chance to qualify you, and get the first premium check?
2007-07-12 11:26:02 · answer #4 · answered by Anonymous · 0⤊ 0⤋
usually that's how it works.
2007-07-12 09:57:36 · answer #5 · answered by Gengis 6 · 0⤊ 0⤋