Key Points in This Chapter
- General ethical principles in insurance sales
- Unethical practices and state regulations
- Professional codes of conduct
- What factors should be considered when recommending LTC insurance
- When is replacement of an existing LTC policy suitable
- Suitability factors to consider when contemplating a partnership LTC policy
Chapter 5 Topics
⚠ Florida Notice: Unauthorized Entities
The State of Florida has taken a very strong position on the issue of Unauthorized Entities — insurance companies that are not licensed by the Florida Department of Financial Services. Agents and brokers are responsible for conducting reasonable research to ensure they are not writing policies or placing business with Unauthorized Entities. Lack of careful screening can result in significant financial loss for Florida residents due to unpaid claims and/or theft of premiums. Agents may be held liable when representing these Unauthorized Entities. It is an agent/broker’s responsibility to give fair and accurate information regarding companies they represent. Any question about the authorized status of a company can be checked by calling the Florida Department of Financial Services at 1-800-342-2762.
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