Due Care/due Diligence
Definition of "Due care/due diligence"
Assurance by the agent that the recommended insurance plan for the client is suitable for that client's specific needs. This assurance is derived from a careful analysis by the agent of the insurance company's financial strength, the accuracy of the policy illustrations, and the treatment of its previous and current policy owners.
Popular Insurance Terms
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Trust established under the Internal Revenue Service code that is used to provide accident and sickness benefits to member employees. ...
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Insurance company that has no outstanding shares of stock, such as a mutual insurance company. ...
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