Agents

Consumer Buying Process Judy Faucett responded that people spend more time buying a microwave than they do an insurance policy. 1994-1, NAIC Proceedings The product is complex and confusing. The following factors must be considered in the rational selection of life insurance: (1) Amount of coverage needed. (2) Understanding of the basic workings of various…

Duty Duty to Disclose Duty to Read Duty to Speak Fiduciary Duty Memorandum of Law in Support of American General Life Insurance Company’s Motion for Summary Judgement See Watkins v. HRRW, LLC, 2006 WL 3327659, at *8 (“Tennessee courts, however, have rejected breach of fiduciary duty claims against insurance agents in various factual circumstances.”); see…

Q: What Do Agents Say to Consumers? The agent, as a result of not understanding the illustration, may misrepresent the product to the consumer. — Judy Faucett 1992 – SOA – Life Insurance Sales Illustrations, Society of Actuaries – 16p Sales Process Some of the comments that we have heard from regulators about the illustration situation suggest…

Problem – Agent I sincerely hope that we take a look at the agent and his role in this entire process. Somehow I think we need to tie in the actuarial profession with various agents’ professional organizations, so that if the agent does in fact bastardize an illustration and make it completely unrealistic, he is…

Agent Training – Walker v LSW (p28) – <Not in front of Jury>, also p49 MR. SHAPIRO (Defense Attorney): This is a diffuse atomistic sales force. We don’t require a lot. — There is very good reasons for that. It’s not a unique business model. Perhaps other businesses run other ways, but beyond essentially telling folks…

Premiums and Benefits – Agents JEFFREY STEMLER, Agent: This is — when we are sitting down talking about insurance, we try to explain to the prospects exactly how the insurance works. So this is part of our talk that we give to explain how it works. So this would be a build slide. This didn’t…

Q: How Do Agents Use Life Insurance Illustrations? How do Agents use these? It would be good to hear from agents. — Richard Wicka, WI-Chair) 2018 12 – NAIC – Life Insurance Illustrations Issues Working Group 2017 – State Farm Agent Training / Van Mueller Approximately 2:11 – “I don’t ever use an illustration.” See…

Agent – Company 2021 0809 – Amicus Brief – PIABA – Public Investors Advocate Bar Association – 8p 2022 0718 – Amicus – PIABA – Public Investors Advocate Bar Association – in Opposition to Request for Depublication of Williams v. Nat’l Western Life Ins. Co – 4p 2021 0809 – Amicus Brief – PIABA -…

Target Market I have a comment which you can respond to if you wish. Universal Life might well be a more appropriate product than Adjustable Life for the very sophisticated, very high premium, as you mentioned, product or sale. However, I think that there is a major segment out there where Universal Life Just would…

Agents – Index ABCDEFGHIJKLMNOPQRSTUVWXYZ# A Accountability Advice Agency Law Agents Agents – Index Agents – Snippets Agents – Specific Agent Statements – Walker vs. LSW Agent Training – Walker vs. LSW Agent – Consumer Interaction Agent – Failure Rate Agent – Knowledge Agent – Lead Generation Agent – Recruiting Agent – Training Agent – Turnover…

Consumer Buying Process

Duty

Q: What Do Agents Say to Consumers?

Problem – Agents

Agent Training – Walker vs. LSW

Premiums, Costs, Values and Benefits – Agents

Q: How Do Agents Use Life Insurance Illustrations?

Company – Agent

Target Market

Agents – Index