Independent or captive medicare broker? Which one should I choose?

 Most people differentiate insurance agents or brokers by the kind of insurance they specialize in – health insurance agent, auto insurance agent, life insurance agent, and more. However, in the insurance industry, there is another important way that insurance agents can be classified: captive insurance agents vs. independent insurance agents.

Whether you work with a captive insurance agent or an independent insurance agent, it can have a profound effect on the kind of insurance you get. This post will explain which one can offer you a more valuable service based on your needs. So, read on to know.

What is a captive medicare insurance agent?

Captive insurance agents have contracts to work with a single insurance company and sell only that company's insurance policies. In return for captive agent's service to sell only their policies, insurance companies typically provide their agents with a fair amount of support, including setting them up with a workspace or office and providing them access to an administrative staff to process paperwork.

When an individual contact an insurance company to purchase a policy, they will refer them to a captive agent that works for them in their area.

What is an independent Medicare insurance agent?

Unlike captive insurance agents, independent insurance agents are not contracted to work with one single company, and they can sell policies from multiple insurance companies. Since independent insurance agents contract with numerous insurance companies, they are not commissioned to sell a specific policy and therefore, provide you with all the options that may benefit you. Most people find it best to work with an independent Medicare Broker in Ohio.




Independent or captive?

Suppose you are looking for the Best Medicare Brokers in Indiana or anywhere. In that case, it's undoubtedly an independent one because they are not bound to sell you a specific policy whether it covers your needs or not. Instead, they will suggest as many options as possible to determine which one offers the best coverage for your needs and fit within your budget. When working with a captive agent, you may never learn about the other options that could be more beneficial to you.

So, if you want to look through many possible options for you, it's best to choose an independent Medicare Broker, but it doesn't mean captive agents are worthless.

Both independent and captive are the Best Medicare brokers in their specific field, but if you are new to medicare plans and want to know about all your options, you may want to work with an independent agent. If you know about medicare plans and are clear about getting that one specific plan, a captive agent may work well for you.

 

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