NAIFA Rep Wants Life Illustration Team to Remember the Agents
August 27, 2019 by Allison Bell
An official at the National Association of Insurance Financial Advisors (NAIFA) has a message for a team of state insurance regulators who are updating the standard life insurance policy summary rules.
Gary Sanders, a NAIFA vice president, says that live human agents are much better at explaining life insurance policies than any cookie-cutter summary can be, and that regulators should make sure live humans can agents can talk to consumers early on in the life insurance shopping and purchase process.
If live human agents have a chance to talk to clients first, the policy summary can be more specific, more detailed and more useful, Sanders says.
Many different types of documents can be important and useful to consumers, but “documents are passive materials that cannot have a conversation with a consumer, or discern what information might help resolve a consumer’s confusion or misunderstanding,” Sanders says.