IMSA Principles Of Market Conduct

A.  Insofar as the products we sell on our website are concerned, we make reasonable efforts to determine the insurable needs or financial objectives of our customers based upon relevant information obtained from the customer and enter into transactions which assist the customer in meeting his or her insurable needs or financial objectives.

B.  Member companies maintain compliance with all applicable laws and regulations.

C.  In cooperation with consumers, regulators and others, we affirmatively seek to improve our practices for sales and marketing of life products.

D.  The Principals of Ethical Market Conduct are reflected in our company policies and practices.

Member companies will provide competent and customer-focused sales and service.

A.  Member companies are of good character and business repute, and have appropriate qualifications and experience.

B.  Member companies are duly licensed or otherwise qualified under state law.

C.  Employees involved in the sales process are adequately trained, as appropriate to the insurer's distribution system, to focus on customers' needs and objectives.

D.  Member companies have adequate knowledge of the insurer's products and their operation.

E.  Employees involved in the sales process are trained, as appropriate to its distribution system, in the need to comply with applicable insurance laws and regulations and the concepts in the Principles and Code of Ethical Market Conduct.

F.  Employees involved in the sales process participate, as appropriate to the insurer's distribution system, in continuing education. 

Member companies will engage in active and fair competition.

A.  Member companies maintain compliance with applicable laws and regulations fostering fair competition.

B.  Member companies do not replace existing life insurance policies without first communicating to the customer, in a manner consistent with Principle 4, information that he or she needs in order to ascertain whether such replacement of existing policies or contracts may or may not be in his or her best interest.

C.  Employees involved in the sales process refrain from disparaging competitor insurers.

A.  Presentation of any material designed to lead to sales or solicitation of life products is done in a manner consistent with the best interests of the customer.  All such sales or solicitation communications should be based upon the principles of fair dealing and good faith, and will have a sound basis in fact.

B.  Materials presented as part of a sale are comprehensible in light of the complexity of the product being sold.

C.  Member companies maintain compliance with all applicable laws and regulations related to advertising, unfair trade practices, sales illustrations and other similar provisions.

D.  Illustrations of premiums and considerations, costs, values and benefits are accurate and fair, and contain appropriate disclosure of amounts which are not guaranteed and those which are guaranteed to the policy or contract. 


Member companies will provide for fair and expeditious handling of customer complaints and disputes.

A.  Complaints are identified, evaluated and handled in compliance with applicable state law and regulations related to consumer complaint handling.

B.  Good faith efforts are made to resolve complaints and disputes without resorting to civil litigation.

Member companies will maintain a system of supervision and review that is reasonably designed to achieve compliance with these Principals of Ethical Market Conduct.

A.  Member companies Senior Management establishes and enforces policies and procedures reasonably designed to comply with the Principles and Code of Ethical Market Conduct.

B.  There is an adequate system of supervision of the market activities of employees involved in the sales process in order to monitor their compliance with these Principles and Code and applicable laws and regulations.

C.  Compliance training sessions are conducted for employees involved in the sales process and instruction on the company's compliance requirements is made available to all employees.