What is a licensed life insurance producer in New York authorized to do?

A licensed life insurance producer in New York is authorized to solicit, receive, and forward applications to the insurer. This role involves acting as an intermediary between potential policyholders and insurance companies, helping individuals understand their insurance options and guiding them through the application process. The producer ensures that all necessary documentation is completed and submitted to the insurer for processing.

While underwriters evaluate and determine the risk associated with insurance applications and set insurance premiums, these functions are typically outside the purview of a licensed producer. Similarly, paying claims is a responsibility of the insurance company, not the individual producer. In essence, the producer's primary functions revolve around facilitating the sale of insurance products rather than making critical financial decisions or processing claims.