Marketing Practices

Card Set Information

Author:
jmck5266
ID:
269232
Filename:
Marketing Practices
Updated:
2014-04-04 16:05:26
Tags:
Insurance
Folders:
Insurance
Description:
Lesson 6
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  1. Become an Insurance Producer in MI
    • a person must be at least 18 years old
    • pass the license exam
    • complete a prelicensing course of study
    • pay the required fees
    • and not have been convicted of any crime involving dishonesty or breach of trust.
  2. Change in Name or Address
    A producer must notify the Department of any change in legal name or address within 30 days of the change.
  3. Commission
    An insurer or producer cannot pay a commission for the sale of an insurance policy in Michigan to a person who is not licensed to transact insurance.
  4. Unfair and prohibited insurance trade practices include, among others:
    • rebating
    • misrepresentation
    • false advertising
    • twisting
    • defamation
    • illegal inducements.

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