A light-second is the distance light travels in one second, or 7.5 times the distance around Earthâs equator. A light-year is the distance light travels in one year. How far is that? Multiply the number of seconds in one year by the number of miles or kilometers that light travels in one second, and there you have it: one light-year. Itâs about 5.88 trillion miles (9.5 trillion km).
An insurance carrier such as; Travelers, Metlife, State Farm, Safeco, are where the company actual creates and manages the insurance products that they would like to sell. They control the underwriting, claims, pricing, and the overall guidance of the company. Letâs look at an example for each of these. If you were to buy an Ipad from Wal-Mart, then Wal-Mart would be the insurance agency and Apple would be the insurance carrier. Thus, Apple manufactures and creates the Ipad and Wal-Mart is where you buy them from but they also offer many other similar products to the Ipad.
Agency vs Trust. Agency accounts differ from trusts in that title to the assets in the agency does not pass to the trustee, but remains in the name of the owner of the property, who is referred to as the principal.. Acting like an agent is not being an agent if you are also a trustee. There is no beneficiary in an agency but only the principal and an agent. A key difference between a trust and an agency account is that there is no legal transfer of title in an agency account. Agent is a person that acts on behalf of another. In an agency relationship, the agent is hired by the principal (client) to perform specific services.