Moral Issues

C4-L2-P4

Moral Issues

Finally, producers responding to both the 1991 and 1995 surveys identified two problems associated with what is best described as moral issues.

  1. False or misleading representations of products or services (which producers ranked in both the 1991 and 1995 surveys as the number one ethical problem the industry faces).

  2. The temptation that exists between opportunities for financial gain (or other personal benefit) and the proper performance of their responsibilities.

While many questionable practices can be condemned outright as being immoral or unethical, maybe the cause of the problem is a lack of knowledge or understanding on the producer’s part. The producer who misrepresents a policy may not recognize that what he or she is doing is unethical. After all, if a prospect needs insurance, does it matter how it is sold? If a client needs a specific type of plan but is willing to purchase a higher-priced alternative, should the producer redirect his or her focus to the policy that is more appropriate?

The answers, of course, are “yes.”

If a sale cannot be made with honesty, fairness and objectivity, it must not be made at all.

If there is an opportunity for personal gain, but it comes at the expense of another person or company, it must be ignored.

Thus, the ethical producer learns very early the difference between right and wrong in the business and practices and acts accordingly.

He or she develops high ethical standards through training with experienced professionals and association with industry groups.

Consistently adheres to his/her values and maintains this integrity throughout his/her sales career

The ethical producer resists conflicts of interest—real or perceived—in all business dealings.

Ethics means emphasizing the interests of clients and company over one’s self.

The ethical producer willingly assumes the obligation to perform his/her duties in a way that reflects the highest degree of dignity on the industry and best serves the interests of the client or prospect.

This means that the producer must put service above sales.