| Whether you're a new agent or you've been around | | | | special skills were used properly in accordance with |
| a while, the big bad world of marketing your services | | | | rules of fairness and fiduciary responsibility. |
| and the need to cover your assets eventually knocks | | | | ___ Be certain that the insurers I represent are |
| at your door. Do you think the two are separate | | | | financially solvent at the time insurance coverage is |
| issues? NOT. For much of what you do in this | | | | placed for my client. Monitoring solvency after the |
| industry, the very things you need to do to influence | | | | sale may not be a legal responsibility, but it is a good |
| new clients are the same things that keep you out | | | | measure of "preferred business conduct". |
| of trouble. That's why we developed this checklist! | | | | ___ Develop my own Privacy Policy to explain to |
| Some items may seem a bit obvious, even hokey, | | | | my clients how and why I will protect the personal |
| but they work and as you get busier it's important to | | | | and financial information they have entrusted to me. |
| review them to make sure you stay on track. | | | | ___ Never advertise or represent that an insurer or |
| ___ Focus on customer service and customer | | | | product as safe because of the existence of state |
| satisfaction first. | | | | guaranty funds. |
| ___ Disclose all facts needed to enable my clients to | | | | ___ Never make an untrue statement or derogatory |
| make informed decisions. | | | | comment about another insurer or competing agent. |
| ___ Sell to my client needs, not my own. My | | | | ___ I will witness clients signing papers and try never |
| approach will be solutions-based; helping my clients | | | | to simply leave them or mail them for later signatures |
| solve their insurance dilemmas by knowing their | | | | where I am not present to witness. |
| needs and financial objectives. | | | | ___ I will strive to personally deliver issued policies |
| ___ Ask the 3 closing questions to determine that | | | | promptly because it is "preferred business conduct". |
| my clients understand the product I am | | | | ___ Develop standard operating procedures and an |
| recommending: | | | | operations manual to help me be consistent in how I |
| · Have I given you all the information you | | | | treat all clients, handle premium payments, document |
| need to make a decision? | | | | client conversations, review client policies, process |
| · Does this information or policy make | | | | applications and cancellations, respond to client |
| sense? | | | | inquiries and complaints. |
| · Is there something else I can answer for | | | | ___ Maintain good customer contact and always |
| you to assure you that this is the right solution based | | | | respond to letters, calls, voice mails and e-mails. And, |
| on your needs and objectives? | | | | since I am aware that virtually all communications |
| ___ Pay close attention to my client's need for | | | | with a client is considered advertising, my words will |
| liquidity. Products that fail to match a client's time | | | | be clear, complete and balanced concerning benefits, |
| frame should be avoided and those that fall short of | | | | costs, limitations and terms. |
| a specific need supplemented. | | | | ___ Take all client complaints and concerns seriously |
| ___ Spend extra time with client applications - a | | | | and be sure that they are resolved fairly and quickly. |
| serious matter where mistakes can void a policy. I will | | | | Where a dispute develops, I will not try to settle the |
| make sure that my clients understand the importance | | | | case or ignore the duty I have to my errors and |
| of accurate information and the ramifications of | | | | omission carrier. |
| mistakes - especially intentional misinformation. | | | | ___ Respect my clients right to privacy and |
| ___ Never promise complete coverage if it is not | | | | safeguard any information I collect on them. I will |
| possible to achieve. Rather, I will strive to provide my | | | | never make a derogatory remark in my client's file or |
| client the most correct coverage available at the time | | | | reveal personal information. |
| of sale. | | | | ___ Always make a note to my client's file regarding |
| ___ Do my absolute best to spot and disclose gaps | | | | any actions taken or proposed and I will create a |
| in coverage, even if it means my clients must | | | | paper trail of all conversations and reminders. |
| purchase additional coverage elsewhere. My silence | | | | ___ Review my client's coverage annually. Where I |
| about inadequate provisions or coverage gaps is the | | | | have a special or long-term relationship with my client |
| same as a lie. | | | | I realize that I may have a legal and ethical duty to |
| ___ Offer immediate or conditional coverage to | | | | monitor the appropriateness of these policies after |
| clients if it is within my authority to do so. | | | | the sale. |
| ___ Always explain widely available options available | | | | ___ Make sure that any replacement policies are |
| on policies I sell. | | | | beneficial and understood by my clients. And, I will |
| ___ Know the difference between policies I am | | | | document why a replacement policy serves my |
| selling and carry specimen policies to answer specific | | | | client's needs and objectives better than keeping the |
| questions on coverage or terms. | | | | old policy. |
| ___ Always use reasonable care and follow through | | | | ___ Abide by all laws and regulations in my area. |
| in obtaining coverage. And, I will always act within | | | | ___ I will not influence clients or prospects in thinking |
| standards of other agents in the same field. | | | | they will lose a right, privilege or benefit under any |
| ___ Never make promises that exceed the limits of | | | | federal, state or local law if they fail to respond to |
| the policy I am selling. | | | | my letter in order to make a sale. |
| ___ In all my advertising I will follow strict consumer | | | | ___ I will not use an address so as to deceive as to |
| protection rules including the prior approval by my | | | | my true identity, location or licensing status or that |
| insurer, identification of my insurers, accuracy and | | | | of my insurer. |
| truthfulness, realistic illustrations and quotes, fair | | | | ___ I will not use the term seminar, class, |
| comparisons and competitive references, real | | | | informational meeting or substantially equivalent term |
| testimonials or endorsements and the fair treatment | | | | to characterize the purpose of a public gathering if |
| of all individuals I approach and serve. Also, my | | | | the real intent is to sell insurance without adding the |
| advertising shall not employ words, letters, initials, | | | | words and insurance presentation immediately |
| symbols or other devices which are similar to those | | | | following those terms in the same type size and font. |
| used by a governmental agency, charitable institution, | | | | ___ If I am doing business with senior citizens I will |
| etc to mislead clients into thinking I am endorsed by | | | | be particularly careful to avoid any actions that might |
| or authorized by these entities. | | | | scare or intimidate like alluding to their loss of benefits |
| ___ To reduce client disputes, I will develop and | | | | in any way from Medicare or Medicaid. I will voluntarily |
| utilize client disclosure agreements acknowledging any | | | | withdraw any offer if I become aware that a |
| limitations in my services, policy options that were | | | | prospective senior client may lack the short-term |
| refused as well as client refusals to seek outside tax | | | | memory or judgment to knowingly purchase an |
| or legal advice. Posting a Public Policy (on a website | | | | insurance product. |
| and in my office) with regard to disclosures and | | | | ___ I will not restrict or limit a client or prospective |
| referring to it in my ads and stationary will help if I | | | | client from having other persons present at a |
| forget to present a written disclosure form. | | | | meeting, including family members, financial advisors, |
| ___ Follow strict procedures when using illustrations | | | | attorneys, etc. |
| that involve showing all pages of the printout and | | | | ___ If I am meeting in a client's home, I will properly |
| explain to clients that it is a projection not a | | | | notify him that I am coming, either by phone or in |
| guarantee of future policy performance. Also, I will be | | | | writing. |
| careful not to highlight or change the illustration. In | | | | ___ At any meeting, my client has and I will honor |
| any casualty quotes or proposals, I will be very | | | | his right to end the meeting at any time. And / or , I |
| specific to match the quote to the specific coverage | | | | will end any discussions and leave the client's home |
| and avoid any language that implies the client is | | | | immediately after being asked to leave. |
| covered. | | | | ___ Read and know the terms of my agency |
| ___ Always obtain a specimen policy for products I | | | | agreement(s) including all duties and responsibilities |
| sell or intend to sell. I will study these policies and | | | | they bear. |
| know what they say and say what they mean | | | | ___ If I refer a client to another professional, I will |
| because ambiguity, whether in a policy or my | | | | refer only to those I believe to be trustworthy and I |
| presentation, will not be decided in my favor in any | | | | will let the referred professional do his own |
| dispute. | | | | fact-finding concerning my client's needs and |
| ___ Strive to learn as much as I can about the | | | | objectives. |
| underwriting of products I sell in order to better place | | | | ___ I will remember that I am also a fiduciary of my |
| my client's coverage in an expedient and efficient | | | | insurer and must always exercise reasonable care, |
| manner because in any insurance transaction time is | | | | skill and diligence on their behalf. |
| working against my client. | | | | ___ I will be come a student of consumer protection |
| ___ If I profess to have special knowledge or | | | | issues and "agent blunders" because I can learn a lot |
| expertise in a field or product, I realize that I have | | | | about serving my clients correctly from the mistakes |
| assumed a higher standard of care that my clients | | | | made by others before me. |
| depend on. In any dispute, I will have to prove my | | | | |