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.
Publication Name: Journal of the American Society of CLU & ChFC
Subject: Law
ISSN: 1052-2875
Year: 1998
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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.
Publication Name: Journal of the American Society of CLU & ChFC
Subject: Law
ISSN: 1052-2875
Year: 1995
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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.
Publication Name: Journal of the American Society of CLU & ChFC
Subject: Law
ISSN: 1052-2875
Year: 1997
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