What is the difference between direct and indirect insurance?

Direct insurance is insurance that is purchased directly from the insurance company, such as life insurance or health insurance. This type of insurance has traditionally been paid for by the customer in advance, and the customer is then covered for a certain amount of time. Indirect insurance is insurance that is purchased through a third-party, such as an agent or broker. This type of insurance is usually more affordable, and the customer may pay premiums over time instead of all at once. The customer has less control over the terms and conditions of their coverage, as the third-party may have their own rules and regulations. In Indiana, both types of insurance can be purchased. Direct insurance is regulated by the Indiana Department of Insurance, while indirect insurance is regulated by the Indiana Department of Financial Institutions. Both types of insurance are subject to the laws and regulations of the state in regards to coverage and customer protection.

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What is the difference between direct and indirect insurance?

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