Article Abstract:
Some policyholders have found that their insurance companies are requiring them to pay premiums longer than promised. Some insurance agents have overestimated or exaggerated future yields on universal life policies. Some agents have made incorrect estimates about economic conditions, but others simply have made promises to receive higher commissions. Policyholders have little chance of filing a lawsuit because these promises were made verbally. Agents should improve customer relations by conducting annual policy reviews with policyholders.
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Article Abstract:
Determining the life insurance industry outlook involves analyzing many factors, including new-product plans, competition from banks and foreign companies, and internal management concerns. When marketing new products companies, must take into account the possible drain of assets, and the possible impact of future tax laws. Deferred annuities appear to offer good prospects. The demand for health insurance legislation may spell trouble for the insurance industry.
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Article Abstract:
Consumer demands and competitive pricing have lead to alternative distribution systems. Profit margin is now a serious consideration. Agent use of a single company is declining. Companies are surveying agent habits. Company response to the trend varies. Some companies now view their distribution system as a separate entity. Distribution networks can be valuable assets.
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