Introduction to the Life Insurance Illustration Questionnaire (IQ)

Article Abstract:

The Life Insurance Illustration Questionnaire is designed to explain different non-guaranteed performance assumptions used to generate sales illustrations. Participation is voluntary and some insurance companies will consider the information proprietary or will be unable to provide some information. Since the illustrations are designed to make the non-guaranteed performance polices appear better than guaranteed polices, the companies accept limited or no responsibility for the illustrated performance. Therefore, understanding the assumptions will reveal the risks. The questionnaire is included.

Transcript

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Hints for the use of insurance illustrations

Article Abstract:

The American Society of CLU and ChFC has been an industry leader on issues of insurance illustration credibility. They have developed a Term Insurance Illustration Information document to aid agents in explaining the effects of interest rates and other economic factors on the cost of premiums. The document is included in the article and addresses premium rate guarantees, renewability, re-entry provisions, cash value contestability periods and conversion privileges.

Reports, Insurance, Appreciation, Insurance policies

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Would you hire Jane?

Article Abstract:

Underwriters and financial consultants should subscribe to the code of ethics developed by the American Society of Chartered Life Underwriters and Chartered Financial Consultants. Companies not qualified on the Schedule of Approved Carriers should not be recommended, even if they are subsidiaries of companies on the Schedule. Agents should leave personal feelings out of business decisions.

Management Consulting Services, Business & Mgmt Consulting, Insurance Mgmt-Life, United States, Practice, Ethical aspects, Employee selection, Consulting services

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