Ethical Principles and Practices Affecting Insurance - MN

Insurance Continuing Education in Minnesota

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$12.95

4 credit hours

If purchased today, this course must be completed by:
June 30, 2024 (94 Days)

Description

This course will focus on the ethical issues in the sales process.  Although its principal attention will be directed to an examination of the ethical concerns encountered in sales in the senior market, the principles developed apply equally to all prospects and clients.  Furthermore, while many of the specific ethical breaches examined relate to the sale of insurance and other financial products, the underlying ethical principles also apply to the sale of other products.
As we examine business decisions from an ethical dimension, it will become clear that the gaining of short-term profit and the adherence to ethical principles will sometimes clash.  In plainer terms, cleaving to ethical principles may require the individual to forgo immediate gain.  In the short term, good ethical behavior and profits cannot be equated.  Not so in the long run.
While there are benefits of ethical practices that are far more valuable than profits to many people, long-run profits are enhanced by the individual’s or company’s adherence to ethical principles.  As we will discuss later in this course, the client trust that is developed as a result of consistently ethical professional practices will be repaid many times over in referrals, endorsements and repeat business.


Learning Objectives

Students who have completed this course should be able to:

  • Understand the fundamental principles underlying ethical systems
  • Discuss the foundations of professional ethics
  • Modify the tools and methods you use in the sales process to meet heightened ethical requirements
  • Identify specific ethical sales concerns and unethical sales conduct
  • Replace in your sales vocabulary those terms that have a high probability of misleading clients
  • Recognize the special issues concerning product replacement
  • Identify the special requirements involved when working with impaired clients
  • Implement a system for ethical decision making

Exam Details

Need Proctor?No
Question Count:25
Passing Grade:70%
Attempts to Pass:Unlimited
Note: If you choose to request additional credit types while taking this course, the number of exam questions and proctor rules may change to meet those credits' requirements.

Course Details

Course Number:1005247
Approved Title:Ethical Principles & Practices Affecting Insurance
Approved Credits
4 credits in Ethics - Distance Learning
Provider:InsuranceStudy.com
Provider Number:8545
Topics Covered:Ethics
Program Level:Intermediate

Rules for Minnesota Insurance Continuing Education

  • Courses approved for online learning will have material that may not be downloaded. Correspondence courses will have materials available as PDF and/or a physical textbook.
  • Exam is closed book.
  • License education credit will not be awarded for taking a course after it loses its status as an approved course.
  • For Online interactive courses there is no proctor required. For Correspondence courses, this state requires a proctor. Correspondence courses will display that a proctor is required on the details page of the course and also upon entering the learning platform you will see "Proctor Required" on the bottom right of your navigation screen.
  • If required - Who May Proctor Your Exam: the exam must be proctored by a DISINTERESTED THIRD PARTY WITH NO CONFLICT OF INTEREST.