What Is A Broker?
An insurance broker’s job is to provide clients with the most appropriate insurance policy.Authorized by specific insurance companies to act on their behalf, the broker essentially guides clients through the process of selecting a policy for themselves, their family or for their employees.
A broker’s job is to get you the best plan at the best price.
A broker talks to you about your coverage needs, weighs your choices, and sees if you qualify for premium tax credits that can significantly lower your monthly premiums through the Affordable Care Act (ACA), known as Obamacare. And they will walk you through your state or federal exchange or Marketplace.
Insurance doesn’t cost you any more money if you buy it through a broker. When you understand the benefits of shopping through a broker – it’s easy to see why they are a great way to simplify the process.
Brokers make it easy to understand your insurance options and what is best for you, your family, or your business. Insurance brokers know the industry as well as the federal and state marketplaces inside and out.
Your broker is there for you even after you enroll in an insurance plan. They can serve as your advocate with the insurance company when you have questions about benefits or about how a claim was processed.
What is required to be a broker?
Insurance brokers and agents must be licensed by their state, complete annual education requirements and have strict licensure exams to demonstrate their expertise. They also are trained to maneuver through the state and federal exchanges.