Question

Why is it essential for an agent to inform the prospect about the acceptance or rejection of the proposal by the insurer in a prompt manner?

a.

To create a sense of urgency

b.

To reduce communication efforts

c.

To fulfill regulatory requirements

d.

To encourage prospects to buy more policies

Posted under IC38 Life Insurance Agent Exam

Answer: (c).To fulfill regulatory requirements Explanation:Informing the prospect about the acceptance or rejection of the proposal by the insurer in a prompt manner is essential to fulfill regulatory requirements and provide transparency.

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Q. Why is it essential for an agent to inform the prospect about the acceptance or rejection of the proposal by the insurer in a prompt manner?
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