What Does Licensee Mean?
A licensee is a person who has been issued a license by an organization or agency with the authority to issue such a license.
In the context of insurance, people who wish to sell insurance products legally typically have to become licensees by acquiring insurance agent licenses.
Insuranceopedia Explains Licensee
In order to obtain a license to sell insurance, a would-be agent typically has to pass an exam and receive the appropriate training. This process helps the government ensure that the people who are selling insurance are actually qualified and competent to do so in a professional and knowledgeable capacity.
Licensees are not just found in the insurance industry. Anyone who obtains a license to do anything qualifies as a licensee. Perhaps the most common type of licensees are those who have acquired a driver's license.