What does Captive Agent mean? Read on to discover the definition & meaning of the term Captive Agent - to help you better understand the language used in insurance policies.
A captive agent is an insurance agent who only sells insurance products for one company, as opposed to a number of different companies. Captive agents are not necessarily employees of the insurance company, but they might be. The insurance company pays them either in salaries, commissions, or a combination of both.
We hope the you have a better understanding of the meaning of Captive Agent.