Agency As An Organization

Agency Standards Organization StageDifferent Stages of Agency Lifecycle

  • Existence - The owner is the agency and the agency struggles to remain alive. Staffing is minimal and the agency must be creative to grow.
    There is little or no job specialization.
  • Survival - The agency is an on-going concern and is trying to make a profit by balancing revenues and expenses. It is doubtful that the agency will survive unless it has specific direction.
  • Success - The agency is profitable and can be:

           1. Stable - Renewals, relatives and referrals. Very service-oriented.
           2. Growth - Agency is sales-oriented. Delegate responsibility to grow.

  • Take-off - Agency is expanding rapidly and targeting new marketing territories. Agency needs coordination, higher level of staffing, and money.
  • Maturity - The agency is fully developed and is using sophisticated systems. These are usually the large, national brokerages.


Acceleration Clause - The part of a contract that says when a loan may be declared due and payable.

Accidental Death Benefit - In a life insurance policy, benefit in addition to the death benefit paid to the beneficiary, should death occur due to an accident. There can be certain exclusions as well as time and age limits.

Acknowledgment: the act of going before a qualified officer (e.g., Clerk) and declaring the validity of the document. The officer certifies same, whose certification is known as the acknowledgment

Acquit: the act of freeing a person from the charge of an offense by means of a decision, verdict or other legal process; to discharge