Understanding how to conduct yourself ethically enables you to enhance your relationship with your clients and colleagues. As a life insurance agent, you’ll be expected to follow the guidelines of LLQP Ethics and Professional Practice. Learn more bout this below.
What are Ethics and Professional Practice?
Ethics are moral principles that influence how a person behaves or conducts activities. According to ethical norms, our actions should be rooted within our rights, obligations, fairness, virtues, and societal benefits. Ethics is based on well-sounded societal standards of right and wrong.
There are two components of ethics. First, it looks at the soundness of our standards of right and wrong. This standard includes our reasonable obligations not to be fraudulent, honesty, and our privacy rights. The second part consists of studying ethical standards. While some things may be a part of societal norms, they may not be consistent with ethics. Therefore, a continual assessment of our moral beliefs and conduct ensures that we strive towards reasonably founded standards.
On the other hand, professional practice is how a person should conduct themselves in their profession. You can think of it as the standard that a member of any discipline must uphold and demonstrate that they care about their job. Many professions often have a governing body to regulate and maintain a high standard of professional practice. Usually, the common principles shared amongst all professions include a high standard of service, disclosing all critical information, and acting with integrity.
LLQP Ethics and Professional Practice
Ethics and professional practices are essential for insurance agents, like any other profession. For this reason, those trying to obtain their LLQP must take an Ethics course. Visit us here to learn more about our Ethics and Professional Practice course. Get the materials and support you need to pass your LLQP exam.
Why is it important to be ethical and follow the professional practice in the insurance industry?
As a professional in the insurance industry, it is essential to be ethical as insurance is based on utmost good faith and trust. Clients seek protection from perils and hazards when they come to you. Hence, they are vulnerable since they’re placing trust and faith in you and the organization. Being ethical promotes and fosters relationships between you and your client and economic prosperity. No one enjoys working with a shady insurance agent, right?
Furthermore, following professional practices reflects well on you and guides your business practices. Following the established standards enables you to evaluate whether you and your colleagues are competent and proficient. It also assists insurance professionals in becoming accountable for their actions and decisions, enforcing competency during their careers. Following professional practices allows you to identify areas of improvement and ensure that you deliver the best service to your clients and those around you.
Want to learn more about Ethics and Professional Practice?
Look no further. PNC Learning offers LLQP Ethics and Professional Practice Course for you right here. If you are prepping for your LLQP, you’ll need to pass your four modules. Get better pricing with our bundle here.