Biggest E&O Concern When Selling Life

Jul 14, 2016

  1. ChubbyChecker
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    ChubbyChecker New Member

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    What are some typical scenarios that can lead to an errors & omissions claim, specifically for a life insurance agent?
     
  2. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    1) Client lies on application, client dies, insurance doesn't pay out due to misstatements, then beneficiaries sue agent & company.

    2) Agent promises the product would do something, or that it has elements that are guaranteed... and it doesn't.

    3) Agent doesn't call clients back if and when there is a problem.



     
    Last edited by a moderator: Oct 10, 2017
    DHK, Jul 14, 2016
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  3. ChubbyChecker
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    ChubbyChecker New Member

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    Good feedback and videos. Takeaway: producer has to know policy in DETAIL!
     
  4. BYSFG
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    BYSFG Super Genius

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    Along with that, when working with inside reps. document everything.
     
    BYSFG, Jul 16, 2016
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