February 27, 2014 7:49 AM IST
Market conducts laws regulate how insurance companies conduct their business within the
state.
Marketing of Insurance Products:
- It provides license to the insurance company and ensures the sales agents are reputable
- and knowledgeable about the product.
- Agent’s license is provided if the Agent is
- Sponsored for licensing by a licensed insurance company.
- Complete approved educational course work.
- Reputable character and provide assurance.
- Agent’s license is renewed each year.
Policy Forms:
- A policy form is a standardized contract form that shows the terms, conditions, benefits, and ownership rights of a particular insurance product.
- Policy form should be approved by state insurance department.
- Here the language is simplified.