How Selling Over the Phone Effects E&O?

[simpsonian]

I was just talking to Royal Neighbors about selling their Royal Prime Whole Life over the phone to parents of children. They said they would accept the application but it would be my E&O that I should be worried about.
I guess I never really thought of it that way but the question I should be asking is "does my E&O cover over the phone sales" and not just, "does a company allow over the phone sales?"

Just a thought

 

[ims01]

They know not of what they are speaking. The only E&O concern, that I can think of, would be if you stated that you saw the client on the Agent Report when in fact you had not. Some carriers allow you to sell non-med over the phone and others do not. Use a different carrier.

 

[simpsonian]

Thanks for the reply. Do carriers generally look at Final Expense and Traditional Whole Life the same when it comes to selling over the phone ?

 

[theinsuranceman]

I was just talking to Royal Neighbors about selling their Royal Prime Whole Life over the phone to parents of children. They said they would accept the application but it would be my E&O that I should be worried about.
I guess I never really thought of it that way but the question I should be asking is "does my E&O cover over the phone sales" and not just, "does a company allow over the phone sales?"

Just a thought

With true FE tele-sales you do not need E&O because everything (health questions, med, birth date, bene., etc. are on the recording). No lawyer would ever challenge the agent or Ins. Co. about the accuracy of the app as "the recording does not lie".

Sr Life as been doing FE tele-sales since 2002 and have it down to a science.