Complaint Tips and Tricks: Guidelines as You Solicit and Service Business

National Life Group (“NLG”) Life & Annuity (“L&A”) Compliance team is here to answer your questions and help guide you, for your protection as well as for the consumer and the Company.

Complaints are part of doing business – even when you strive to do the right thing by your client. One of the ways the Company supports both you and consumers is by fair and expeditious handling of consumer complaints.

A few guidelines as you solicit and service your business:

Life Insurance products must be sold primarily for the death benefit.

Life Insurance is not an investment, savings account, or retirement plan. Ensure your client understands and accepts this before moving on. Living Benefits, building cash value, and other riders must always be secondary.

Tangible documentation will be your best defense!

Keep well-documented consumer files and communication logs, including emails, texts, notes, and sales materials used.

Know where you can sell.

You must be licensed in the states in which you solicit and sell.  Also, some school districts do not allow the solicitation of life insurance products on school grounds.

Take good care of your customers.

Respond to their emails, answer their calls, and always provide the information they need whether you can help them, or you refer them to someone who can. An annual review is a beneficial check-in where concerns or questions can be addressed in a timely fashion.

Promptly return forms on delivery.

The policy delivery receipt is not only a regulatory requirement in some states, but also a valuable piece of documentation in completing a sale and providing an opportunity for the customer to confirm acceptance of their purchase.

Quickly respond to requests for an agent statement.

If a complaint involves allegations against you or the sale of the product, L&A Compliance will contact you for a signed written statement as we want to understand the full picture of any complaint received.  It is important to address each allegation in the statement, providing only the facts of the case and tangible documentation you may have.  Due to the time sensitive nature of regulatory agencies, it is imperative a response to the inquiry is received within 48 hours.  Non-response will result in in a written warning or disciplinary action up to, and including, termination of your NLG appointment(s).  Your statement can help protect you as the agent as well as the Company.

We appreciate your partnership!