Rene Lacape Lists out An Agent's Responsibilities to the Insured Aside from Giving Life Insurance Rateswhole life insurance industry as well.
When you are to see the life insurance underwriting objectives you can see that it gives more importance to insure lives which in turn emits the mortality objectives set by the company, and it is initially formed in regard to the set standards to handle the premium payments to be handed out to the clients. Along with this objective the life insurance rate must also be set in accordance with the company has established.
The objective of the underwriting will ensure that it must be set to achieve the sales goals established by the company in order to see to that all the financial foundation needed for future claims and benefit payments have to be kept in mind. These objectives are given due importance because it will help you to establish your reputation in the community.
As a life insurance underwriter you may agree on benefits and future claims of the client and then offer an instant life insurance based on the need of the client. Your reputation may be hampered if the insurance company is unable to settle the claims due to poor financial position. This will happen as it is you who are directly interacting with the client.
One basic responsibility of a life insurance agent is to inform the client that the coverage becomes effective only when the company has approved his application and that the agreed upon initial premium has been paid already. Outside of this condition the client is not yet insured and it is the obligation of the agent to inform him of this stipulation.
Another important responsibility of an agent is to act reasonably without delay in submitting the application for insurance secured from the client. According to Rene Lacape once the client has completely filled-up the application form, the life insurance agent must see to it that it is submitted to the office immediately. This will ensure prompt and fast processing of the client's application.
Alongside with the already said responsibilities a professional agent must keep himself away from giving verbal assurance to the client stating the coverage has already been effective. As we are a professional agent we need to wait for a formal confirmation from the office or get proper assurance from the office that the policy is in effect, it is not fair on the part of an agent to give assurance to the client even if he is just opting for an instant term life insurance.
One of the prime responsibility of an agent is to keep the client posted if his application was rejected by the company. A few reasons for the rejection of the application are detailed below. Failure to furnish complete details of the client, in the process of investigation the insurance company finds that an individual is already suffering from an illness which was not disclosed in the application or hazardous living lifestyle. The agent as a professional is expected to detail the reasons to the client as what Rene Lacape will also do in the same situation.
In order to meet the needs of the client the professional life insurance agent must spend some time to have a detailed discussion and evaluate the insurance needs of his client and thereby advice the various changes needed in the coverage. It is so said that life is full of changes. It turns to be beneficial to the client as his insurance coverage will have to face changes and all the happening in his life and circumstances in order for it to be relevant and updated. Do consider the life insurance rates as an example because the rate is calculated to the future claims the client will receive thus higher rates will also mean greater benefits later stage.
A professional life insurance agent must use his full ability to serve his client's insurance coverage and needs. Our major responsibility is that to offer a life insurance and instant term life insurance so when a person agrees to get himself under this life insurance coverage it is the duty of the agent to serve him with utmost honesty and truth.
Rene Lacape Lists out An Agent's Responsibilities to the Insured Aside from Giving Life Insurance Rates
By: Rene LacapeAbout the AuthorArticle by Rene Lacape of EQuote.com - a leading website that has the biggest selections of affordable term life insurance in the country. (ArticlesBase SC #3304671)