Asked on 21 Jul 2020
Is it possible that two insurance agent service each other's policies and save on commission money?
Yes. I'm servicing my own policies, since there's no one that better knows what I need other than myself.
But ultimately, in cases such as CI or hospitalization, I'll always want a next of kin to know what I have, so that claims can be made. If I'm incapacitated, at least there is still a hotline to call for assistance.
Yes it is possible as long as they are not the same insurer.
If its your insurer, you will need to buy it yourself.
Better for another agent to do the claims because if you are tied with your own issues, you may not be able to claim.
Yes, that could very well be possible. You may be more interested to know that a insurance agent is legally permitted to sell themselves insurance policy’s and receive commission for it which is advantageous to a insurance agent given how it is their field of work.