Chapter 5 — An Ethical Insurance Practice

The sales process is the heart of any company’s distribution system. Its ultimate success is based on the salesperson’s ability to develop trust and create rapport with a prospect. The salesperson’s ethics and values contribute more to the process’ success than any specific technique or strategy the agent might use.

For a professional, selling is not a one-way transaction; instead, it is a collaborative process in which the professional and the buyer work together to achieve an exchange of value.

• Success of the sales process can be attributed more to ethical treatment of the client than any particular sales technique that might be employed by the agent
• The approach step of the sales process is designed to create trust and rapport
• Agents must disclose that they are sellers of financial products no later than the opening interview
• The only ethical recommendation an agent can make is one that is suitable for the client
• Any supporting materials used in the sales process must be sufficiently clear to stand alone without misleading the reader