All of the following actions are prohibited in the sale of life insurance EXCEPT:

A. Giving a special advantage as an inducement to buy insurance.
B. Paying anything of value to the insured that is not specified in the contract.
C. Offering shares of stock in the insurer as an inducement to buy insurance.
D. Sharing commissions from the sale of a life policy with another life agent.

Question

20-07-2024
Business

Answered

All of the following actions are prohibited in the sale of life insurance EXCEPT:

A. Giving a special advantage as an inducement to buy insurance.
B. Paying anything of value to the insured that is not specified in the contract.
C. Offering shares of stock in the insurer as an inducement to buy insurance.
D. Sharing commissions from the sale of a life policy with another life agent.

Answer :

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GinnyAnswer GinnyAnswer · Answer 1 · 2024-07-20T10:54:27-04:00

Final answer:

In the sale of life insurance, sharing commissions with another life agent is permitted, unlike other prohibited actions such as giving special advantages, offering stock shares, and paying unspecified values to the insured.

Explanation:

Sharing commissions from the sale of a life policy with another life agent is allowed in the sale of life insurance. This practice is a common industry standard and is not prohibited like the other options provided. Giving special advantages, offering shares of stock, and paying unspecified value to the insured are activities restricted in life insurance sales.

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