Ethical issues in the marketing, advertising, and sale of universal life insurance

Article Abstract:

Proper representations made to clients by universal life insurance agents during marketing and sale of policies is important to the continuance of high ethical standards in the life insurance industry. Industry study has shown that accurate policy credit and charges information should be provided to clients, perhaps through formal written documentation. Agent and client relationship is a factor contributing to the degree of disclosure.

Marketing, Ethical aspects

---

Measuring the financial impact of backdating a life insurance contract

Article Abstract:

Backdating mat benefit some life insurance owners, but each case should be studied by the agent on an individual basis, as backdating could hurt some policy holders. Generally, backdating offers the greatest benefits to older applicants. As backdated periods get longer, however, the benefits of backdating diminish. Interest rate assumptions that are too high could also diminish any gains recognized through backdating.

Contracts, Insurance policies, states

---

Illustrated versus actual universal life insurance cash values

Article Abstract:

Insurance agents and their customers should not base their decisions on universal life insurance illustrations because they can be misleading and cause dissatisfaction. However, the illustrations do contain some of the information necessary to make a reasoned judgment. Therefore, agents need to clearly present the risks generated by the nonguaranteed elements' changes to avoid liability.

Life Insurance, Direct Life Insurance Carriers, Insurance Agencies and Brokerages, Insurance agents, brokers, & service, Insurance Agents & Brokers, Insurance industry, Practice, Portrayals, Insurance agents

Similar abstracts:

• Abstracts: Market conduct issues and the transformation of the U.S. life insurance business. Life insurance illustrations: the problem or the solution?
• Abstracts: Non-traditionals' surge in new legal market. Where to go; a regional listing of job prospects for attorneys. Legal market: the good and the bad prospects for job hunters
• Abstracts: She puts learning ahead of earning. She insists on ADR, firm ties, honesty. Balancing motherhood and the practice of law: the complications can't be lightly dismissed, but it can be done successfully
• Abstracts: Lawyers' self-marketing can bolster their firms' promotional strategies. Attorneys must be salespeople: they don't tell you this in school, but getting ahead hangs on attracting clients
• Abstracts: Race to courthouse may result in needless fees; coverage litigation often entails overbroad claims, defenses and mammoth discovery demands

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.