As a result of these ongoing issues, training and continued education requirements for licensed agents include several courses in ethics — many specifically related to ethics in selling to seniors. Closing the Gap - 4 Hours This course offers a full review of the federal Medicare program, and how Medicare supplement insurance may be used to provide more complete healthcare coverage to Medicare recipients.
Honesty reflects character while being right reflects a level of ability. There are two periods defined for this financial tool: The process allows the prospect to participate and the agent is able to create financial planning solutions for needs based upon what he or she considers important.
Three FINRA rules form a regulatory scheme addressing the supervision of firms and their associated persons. In any action or breach of duty presented in a court in California, agent conduct and history is investigated and deemed relevant specifically concerning the selling of Medicare supplement insurance, long term care insurance, etc.
Annuities also carry deferred back-end charges that will be applicable if the investor closes his or her contract prior to the agreed-upon time frame. You have to behave honestly, portray situations and products accurately and make constructive contributions to discussions about problems and solutions, and you must observe the applicable laws and regulations at all times and adhere to company ethics policies.
National Association of Insurance Commissioners, n. Pricing Following ethical guidelines in pricing means prices have to be clear without hidden charges. If the planner shows the client a graphic illustration revealing how she will be bankrupt in less than 10 years, is that using fear as a tactic, or is it merely a revelation of reality?
The specialty of the senior market With the elements defined, the target audience must be analyzed. In order to understand the challenge presented in this specific environment, we must first define the elements involved. To prepare for careers in the field of animal science, students must enhance academic knowledge and skills, acquire knowledge and skills related to animal systems, and develop knowledge and skills regarding career opportunities, entry requirements, and industry expectations.
Content includes the most recent product innovation in the indexed annuity and life market as well as the most recent June interim guidance for illustration of indexed universal life products published by The NAIC working group.
What this usually boils down to is getting clients to do the right thing for the right reason.
Familiarize the agent with the different type and classifications of annuities and life insurance and how indexed annuities and life differ from more traditional products.
Students shall be awarded one-half credit for successful completion of this course.
What other sources could help care for a long term care illness? Business Ethics — the Ethical Consideration of Life and Annuity Sales Essay Sample Abstract This paper brings to light the ongoing problem of ethical consideration when a licensed agent is selling a life annuity to a senior.
Submitting false information in any report to any structure or functionary of the company. If someone needed permanent life coverage, a whole life policy was issued. Advice The boundaries between sales and advice in the financial industry are becoming increasingly blurred, as new platforms and methods of doing business continue to emerge.
The couple that is worried about outliving their income would certainly be a candidate for a variable or fixed annuity. Students will analyze mathematical relationships to connect and communicate mathematical ideas. Characteristics of such conduct include respectful interactions, consideration for cultural diversity and nondiscriminatory behavior toward people who are different than you.Transcript of ETHICAL ISSUES IN SALES MANAGEMENT AND LEGAL FRAME.
Sales Management WHAT INFLUENCES ETHICAL BEHAVIOR? Sales Management Ethics Sales Management Management's Social Responsibilities Sales Management Management Social Responsibilities ETHICAL ISSUES IN SALES MANAGEMENT.
Ethical considerations are those that pertain to moral values and decision-making at the individual or societal levels. They can affect a large number of different types of communities, ranging from those involved in health care, government, business, religion and even social media. Minnesota Society of Certified Public Accountants.
West 82nd Street, Ste Bloomington MN Ph: Fax: dfaduke.com The various debt obligations can have different seniority rankings or priority of payment. The capital structure is the composition of a company’s debt and equity such as bank debt, bonds of all seniority rankings, preferred stock, and common equity.
Proper estate planning is important for blended families. Are you a member of a blended family? If yes, then you are in good company.
About 41 percent of Americans have step-relatives, according to the Pew Research Center and Stepfamily Foundation. The following outline is provided as an overview of and topical guide to finance.
Finance – addresses the ways in which individuals and organizations raise and allocate monetary resources over time, taking into account the risks entailed in their projects.Download