An individual representing an insurer as to life insurance and annuity contracts, including agents appointed to transact life insurance, fixed-dollar annuities, or variable contracts by the same insurer is defined as:

Life agent.

Explanation:

There are different types of life-insurance coverage plans around the world and these includes;

I. A group life insurance policy: it can be defined as a single contract plan that covers a group of people by providing life insurance coverage. An employer may opt for a group life insurance policy which would cover the lives of his or her employees. Therefore, in the event that an employee died, the group life insurance policy would act as a monetary security by providing financial support or aid to the family members of the deceased employee.

II. A Variable universal life insurance: it is a type of permanent life insurance policy which avails the holder the opportunity of investing the cash component of the plan (policy) for a much greater returns and as such the investment risk associated with the policy lies completely on the policy holder and not the insurance company.

An individual representing an insurer as to life insurance and annuity contracts, including agents appointed to transact life insurance, fixed-dollar annuities, or variable contracts by the same insurer is defined as a life agent.

Basically, a life agent is saddled with the responsibility of acting as an intermediary, providing advice to their clients and suggesting good insurance policies.