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Essay Insurance Law

A Career in Insurance Sales Essay

1363 Words6 Pages

A Career in Insurance Sales

Nature of the Work
Insurance agents sell one or more types of insurance, such as life, property, casualty, health, disability, and long-term care (Edwards, 1999, A12). Agents sell insurance policies to individuals and businesses to provide protection against loss or catastrophe. Insurance agents consider the financial status and life situation of their clients, and assist them in selecting their optimal insurance policy. Some policies can be designed to provide retirement income, funds for the education of children, or other benefits (Edwards, 1999, A12).
Insurance agents prepare reports, maintain records, and they help policyholders to settle insurance claims (Abraham & Herman, 1998). Special in-group…show more content…

Changes in tax laws, government benefit programs, and other State and Federal regulations can affect the insurance needs of clients and how agents conduct business (Abraham & Herman, 1998). Courses in psychology, sociology, and public speaking can prove useful in improving sales techniques (Abraham & Herman, 1998). The use of computers to provide instantaneous information on a wide variety of financial products has greatly improved agents’ and brokers’ efficiency and enabled them to devote more time to clients’ needs (Abraham & Herman, 1998).
Insurance agents and brokers must obtain a license in the states where they plan to sell insurance. By law, licenses are issued only to applicants who complete specified courses and then pass written examinations covering insurance fundamentals and insurance laws (Edwards, 1999, A13). Agents who plan to sell mutual funds and other securities must also obtain a separate securities license (Edwards, 1999, A13). Most states also have mandatory education requirements focusing on insurance laws, consumer protection, and the technical details of various insurance policies (Vault.com, 1999). The Degree requirements include Certification from the National Association of Securities Dealers or the Securities and Exchange Commission (Vault.com, 1999).
Entry Level Description

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If you want to pursue a career in insurance law, avail our insurance law assignment essay help to score high grades. Insurance Law is one of the promising career options which have evolved in the 19th century. It deals with the practice, application and exercise of various laws surrounding insurance and its diverse policies. It also complies a set of laws that guides and regulates customers and insurance companies administering the sales of insurances, laws related with them and future claims. Insurance law differs from country to country though the main objective lies to uphold the interests of the customers as well as the public and private insurance companies. Online insurance law assignment help varies respective to the countries.

Genesis

  • It is believed that the earliest known insurance company used to insure the marine ships which explored the world in the 12th and 13th century in London. Gradually insurance became a household name as every firm, company, service or people register into different insurances to restrict, limit or reimburse from the varied types of losses.
  • The systematic expansion of English mercantile reached its zenith in the 19th century when many firms registered themselves as insurance providers.
  • In 1871, the first insurance law was passed known as Lloyd’s Act which heralded a new field known as insurance law. With time, it established itself as a major branch of academics and a lucrative career option in future. Hence, it is advisable to opt for insurance law assignment essay help from us. 

Concept of insurance

Our professional writers have in-depth knowledge on the concept of insurance to provide worthy insurance law assignment essay help. To be very precise, insurance is a deed of contract between the two parties where the insured party pays premium and the second party promises to compensate the former in case of any kind of losses mentioned in the agreement. The loss may be death of an individual, illness, property or commodity damage. Insurance law assignment essay help outline the various types of insurances through which the ‘insured’ can protect itself.

Insurance law assignment essay help is incomplete without these ubiquitous terms of insurance field:

  • Policy: It refers to the final contract between the two parties
  • Premium: The amount of money paid by the insured against the insurance
  • Claim: A formal request by the insured for reimbursement in case of losses.

Principles and categories of insurance law

According to our insurance law assignment essay help tutors, the main principles of the insurance laws is to preserve the various interests of the people associated with this industry by one way or the other. The main principles of insurance law summarized in our insurance law assignment essay help material are:

Nature of contract

The nature of deed is of primary importance which exhibits all the clauses of the contract. It is the formal document with which the insurance comes into effect with the consent from both the parties. Online insurance law assignment essay help comes in attractive rates.

Faith over each other

Both the parties should have utmost faith in each other and the aforementioned contract should mention everything. The parties should not be in any fraudulent activity or misrepresentation of actual facts which can lead to future complications and legal procedures. Get insurance law assignment essay help from us for better grades!

Insurable interest

The ‘insured’ should be of substantial value and importance. Our insurance law assignment essay help include the following example; a person’s life has utmost importance to him/her and to their dear ones. Hence, his/her life can be insured.

Principle of indemnity

An insured will be compensated for the losses incurred. The value of reimbursement will be equal to the value of the losses suffered and not less or more than that. This is one of the major insurance principle which is followed everywhere in the world and a primary concern in insurance law assignment essay help.

Subrogation

If a third party is responsible for the losses incurred, insurance law permits the person or the company to pursue legal means in which the concerned party will have to pay for the respective losses. This is the principle of subrogation which is a chief component in insurance law assignment essay help.

Double insurance

Insurance law assignment essay help highlights double insurance as the making of different policies under different insurance companies. This is especially applicable when the concerned property or person is weak and vulnerable to tremendous losses in the near future. Check our insurance law assignment essay help samples for better information.

Principle of dominant cause

If the loss incurred in the result of two or more causes then the insurance company will only consider the dominant cause and reimburse accordingly.

Based on the basic principles, insurance law is broadly classified into three categories. Insurance law assignment essay help experts focus on the following:

  • Licensing and monitoring the vast business of insurance. The steps will stop fraudulent activities and unfair trades within the industry
  • Issuing regulatory measures especially in the interest and favor of consumers and formulating policy accordingly
  • Determining the claim and monitoring the recruitment of lawyers and solicitors by the concerned insurance companies related to it.

Insurance law as a career option

The field of insurance is not only vast but it is also complicated and complex. Any insurer looking to make a policy always consults beforehand with experienced and sincere solicitors who have excelled in insurance law. Without their opinions, no one makes any concluding decision about making the insurance policy. Insurance lawyers are also consulted before determining and claiming the compensation. They hold special importance for both the insurance company as well as the insurer. Want insurance law assignment essay help? MyAssignmenthelp.com is the best place!

This challenging field offers healthy income, innovative thinking and deep research. If you possess these qualities, then insurance lawyer or solicitor will be the ideal option for you. Insurance law assignment essay help is inevitable for students pursuing career as an insurance lawyer. Insurance law assignment essay help outline the following job prospects for students:

  • Offering consultation to the concerned parties
  • Negotiating between the parties and formulating the policy
  • Determining compensation and submitting formal claim to the concerned authority
  • To be aware of the rules, regulations and laws of insurance.

Other than aforementioned duties, the solicitor should have an analytical mind. Insurance law assignment essay help from us assist you to flourish as a successful insurance lawyer. Insurance law assignment essay help by experts assist you to gain profound knowledge about the insurance market. Insurance law assignment essay help experts provide quality help to the concerned people and companies. With experience, your career will bloom and you will flourish as a renowned insurance consultant or solicitor.

Worthy insurance law assignment essay help from MyAssignmenthelp.com

MyAssignmenthelp.com offers quality insurance law assignment essay help. This insurance law assignment essay help by law practitioners ensure 100 percent plagiarism-free, unique content and desirable grades. We provide worthy insurance law assignment essay help that will win your heart with ideal quality unexpected content. Our insurance law assignment essay help is designed with expertise including adequate details.

Further, our insurance law assignment essay help is backed with facts, figures, principles of insurance law and relevant data making it the ideal one. Our insurance law assignment essay help improvises each assignment, making it distinctive than the other ones.

As discussed, insurance law is a difficult subject. However, our insurance law assignment essay help lets you gain in-depth knowledge and skill on the subject. Without our insurance law assignment essay help, students faces numerous difficulties to cope up with this challenging work. To ease this strenuous task, our able and eminent group of insurance lawassignment writers provides authentic insurance law assignment essay help to them. 

The students just need to log on to our site and furnish all the details and necessities. We guarantee fastest turnaround time of insurance law assignment essay help right before the deadline. MyAssignmenthelp.com provides enthralling insurance law assignment essay help with its dedicated team of 3000 PhD experts. Besides, insurance law assignment essay help, we also offer a 24x7 customer support committed to solve any queries of the students. Insurance law assignment essay help by our experts pave the way to future success.

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