Servicing

From a distribution perspective, I think one of the challenges that face us in UL is the servicing of UL. 

Flexible premium, high-degree-of-service UL products have little or no renewal compensation paid if there’s no premium paid. 

-- Daniel F. Byrne

1999 - The Next Generation Universal Life, Society of Actuaries - 30p

  • First of all, I believe there is cause for concern arising from the repeated inferences, both in this paper and elsewhere, that the agent is somehow obligated to provide "service" long after the sale on the policies that he has sold.
  • Certainly the insurer has an obligation to provide such service, but I cannot agree with the rationale that it must be done through the agent.
  • No other industry expects its salesmen to double as servicemen and technicians.

-- Albert Easton

1974 - CONSUMERISM AND THE COMPENSATION OF THE LIFE INSURANCE AGENT, by Anna Rappaport, Society of Actuaries