It would be nice if there had been no this kind of thing as an “unethical” agent, but unfortunately this is not the circumstance. Therefore, rules are in pressure to right the practices that result in irreparable damage to our field and to our profession. The most often targeted of our population by these miscreants are the elderly for a selection of motives. Fortunately the Departments of Insurance policy and legislatures – regionally, condition and federal – have produced unique varieties of regulation security these citizens, and this is legitimate in the discipline of annuity gross sales. There is a chapter of this textual content dedicated to the challenges of the senior citizens with discussions of ideal rules and penalties for individuals who dismiss or disregard these rules. This part discusses the gross sales practices of brokers marketing and advertising annuities to everyone regardless of age, recognizing that some of this will be recurring in the afterwards dialogue of marketing and advertising to the seniors.

Advertising and marketing

For the intent of this dialogue and rules, “marketing” applies not only to “ads” (which truly is an abbreviation for advertisement…). brochures, newspaper and other media article content, tv and radio marketing – but largely printed substance. Envelopes, stationery, business enterprise cards and any other substance that is applied by an agent or insurance company that are built to explain the insurance policies products and to attempt to motivate a obtain of the insurance policies products – annuity for this dialogue.

Simply put, the regulations89 are supposed to insure that the insurers and brokers treat their shoppers honestly and openly. Therefore, any marketing should not mislead individuals who read through it and act on the facts contained in the substance (with unique obligations to seniors, talked about afterwards).

Advertising and marketing is also the substance that is applied to crank out prospects via reader response, generally followed by an agent calling. It can publicize a assembly or seminar at which facts is furnished (also covered in detail in a separate part), or simply marketing the products of the insurance company. If the advertisement is directed toward individuals age 65 or older, if the advertisement is applied for prospects, the advertiser should disclose in the advertisement that an agent may perhaps get hold of the particular person – if this is supposed.

If the name of the prospect is attained from a guide source, the source should be disclosed to individuals over age 65.

Even while it is in practically all agent’s contracts, it does not damage to level out that the insurance policies enterprise should give an agent authorization in creating right before the agent can publicize the products.


Agents and other individuals who market place monetary goods, attempt to get hold of new shoppers by holding seminars, lessons or facts conferences. This is specific relevant in the Senior market place, and is so talked about afterwards in the textual content. Essentially, the rules call for that for this kind of a assembly to be advertised (to any age) that the advertiser should disclose their intention by introducing “and insurance policies gross sales presentation” immediately pursuing the words “seminar,” “course,” or “informational assembly.”

Advertising and marketing TO THE SENIOR Market

Internet marketing of annuities to individuals over age 65 have stricter prohibitions, and are so set forth in the chapter “Offering Annuities to the Senior Market.”


Any particular person or business enterprise in violation of the marketing rules is topic to a stiff fantastic levied by the Insurance policy Commissioner. The fantastic for the very first offense is $200, for the 2nd offense it goes to $five hundred, and for the 3rd and afterwards offenses, $one,000. The optimum fantastic for any one violation is $one,000. And if you are intrigued, the money goes into the Insurance policy Fund.63C

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