Author: edward hulse

The insurance professional must be aware that he/she has five areas in which to act ethically. They are:

- Act ethically for himself/herself.

- Act ethically toward the insurer.

- Act ethically toward the policy-owner.

- Act ethically toward the general public.

- Act ethically toward the state.

Ethical Responsibilities to himself/herself

The agent must act ethically in order to conduct business. Experience alone will not be enough to meet this extremely important responsibility.

Ethical Responsibilities to the Insurer

The duties of an insurance professional to his/her insurer are established by the concept of “Agency.” This concept is represented by the agent contract, which both parties agree to and sign. In carrying out his/her duties, the insurance professional is the direct representative of the insurer. The professional must keep this in mind. His/her day to day activities will be a direct reflection on the insurer within the community.

Ethical Responsibilities to Policy-Owners

By filling needs and providing quality service, the insurance professional can meet his/her ethical responsibilities to policy-owners. Service is of utmost importance since proper service will often lead to future sales and referrals.

In addition, to quality service, the agent owes the policy-owner loyalty. The agent must also meet ethical responsibilities to policy owners by timely submission of all applications, prompt policy delivery and confidentiality.

Ethical Responsibilities to the Public

Fortunately, the insurance professional has much more control over shaping the public’s attitude toward insurance than do the other army of sales representatives for other consumer products. The nature of the way insurance is sold creates this advantage. The insurance professional initiates contact with a prospect, then determines if and what the insurance needs are. Upon completing these tasks, the agent recommends certain products. During the course of making these recommendations the agents provides a professional sales presentation and attempts to develop a long-term relationship with quality service after the sale.

Since this unique situation requires a great deal of contact between the consumer and the agent, public perception of the industry itself is based on this relationship. Such perceptions of the industry hinge on the behavior of the agent. One can now understand the importance of ethical behavior in a business setting.

The professional agent has two ethical responsibilities to the public:

- To strive for the highest level of professionalism in any and all public contact in order to maintain the strongest positive image of the industry as possible; and

- To keep the public informed about the insurance with the highest level of professional integrity.

Ethical Responsibilities to the State

Although the responsibility to regulate the insurance industry is shared by both the federal and state governments, the states carry the burden of regulating insurance affairs, including the ethical conduct of licensed insurance agents.

In some states, the regulation of ethical conduct falls under marketing practices while other states refer to is as unfair trade practices. Regardless of its monitor, all states have established a code of ethical standards for insurance agents by defining through laws the proper behavior expected from an agent. Though these laws differ from state to state, there are enough similarities to discuss them in general terms. As we study the legal framework, one must remember these laws provide the industry with a set of absolutes. There are situations which are legal but not ethical. On the other hand, there are a few situations, which are illegal, but ethical.

Knowledge of such laws is important because they provide the insurance professional with guidelines, pointing the way to stay out of trouble. Staying out of trouble is very important due to the heavy penalties that can be meted out for various violations of the law. Penalties can include suspension or revocation of any insurance license. Penalties can also include the payment of monetary damages and could quite possible end a promising career.

Illinois Insurance Continuing Education

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Article Source: ArticlesBase.com – Illinois Insurance Continuing Education – Insurance Agent ‘s Ethical Responsibilities

Author: Robert Barabash

New teen drivers are considered “at risk” drivers. Because of their age and inexperience they are considered high risk. This means they pay more for auto insurance. But there are ways to reduce how much you pay.

Most policies allow the parents to add their teen children to their policy, thereby making the teens premium less then if the teen purchased their own insurance. If your insurance company doesn’t allow this type of addition, it is time to look for a new insurance company.

Encourage your child to do well in school. Most insurers have a discount for “good student” young drivers.This is a win win situation. Not only does your child do well in school, but the premium for a good driver is saving you money.

Take a defensive driving course. Dicounts are given for the course and you have peace of mind that your teen is better equipped to deal with problems on the road. Defensive driving courses are good for both the young and the more experienced driver.

Lead by example. If your teen sees you using bad driving habits, then some of those habits may rub off on them. If you drive with more care and caution, follow the rules of the road and control “road rage” your teen will mimic your driving habits.

Sop around for the best deal. Just because your existing insurer used to give you the best rate does’t mean you are getting the best one now . It is recommend you get at least five quotes every three years. Auto insurance is a very competitive market and that makes the consumer a winner when it comes to lower premiums.

In summary teen insurance need not be expensive.Add your child to your policy. Encourage them to do well in school. Make sure your child takes a defensivedriving course. Lead by example when it comes to driving and get at least five quotes on your insurance needs.

About the Author:

Robert Barabash is the owner of a website that explains the various forms of insurance in a way that the public can understand. The valuable information available allows you to make an educated decision. You can also get five no obligation quotes on all forms of insurance products such as auto, home, renter, life,disability and pet insurance. For more information go to http://allinsurancesite.com

Article Source: ArticlesBase.com – Cheap Auto Insurance For Teens

Author: Benard Worseley

Whether you deny it or not, health life insurance can really help protect your family. Although there are a lot of people who do not entertain the idea of death, it is still something that cannot be avoided. Unless you have discovered the fountain of youth, death is the ultimate threat to your loved ones.

Death does not just entail the loss of a loved one. In many cases, death haunts people because of the series of events that it triggers. For example, the death of the breadwinner in the family is more than enough reason to have larger than life problems. Would you want your family to experience this kind of situation? Get a health life insurance now.

Health life insurance in focus

A health life insurance is a kind of well, insurance, that covers a lot of things. Funeral costs are usually the major coverage of most health life insurance. In some cases, a health life insurance also provides people with the benefit of not worrying about hospital bills. There are also health life insurances that will provide your loved ones with certain amount of money after your death.

Offered by the different public and private institutions, health life insurances can be compared to social securities. People who have health life insurances are required to pay a minimum amount during a period of time. Once the insurance policy matures, the bearer of the health life insurance would be entitled to several benefits agreed in the policy.

Advantages of having a health life insurance

Having a health life insurance for your family will always provide you with a number of positive benefits. To give you an idea, here are just some of the things that you would enjoy for having a health life insurance:

• You’re insured!

A health life insurance would guarantee that you or your family will have the financial means to support and solve whatever life and health related problems will come along the way.

• No worrying about funeral expenses

Death may have its toll financially. As a matter of fact, funeral expenses can just aggravate the lost of the families left behind. Some sources say that funeral expenses costs an average of $10,000—an amount that not all families have. And since death is always unexpected, having a health life insurance that covers funeral expenses is like being prepared for the unknown.

• Money for those who were left behind

Some health life insurance also covers giving certain amounts of money to the beneficiaries of the insurance holder. Depending on the type of health insurance plan, the funds could be received in bulk or in scheduled releases. Having a health life insurance of this type will ensure that life would still go on for those who were left behind.

• No debts/bills to be paid

Since a health life insurance will cover all the expenses for the funeral and hospitalisation, families need not worry about paying bills or getting credits. This would mean that they would be free of worrying about the consequences of the death of their loved one.

About the Author:

I am 23 year old student on my last year of study at the University of Sydney (Sydney), majoring in Information technology.

Article Source: ArticlesBase.com – Why Health Life Insurance is Important For your Family