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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Costs associated with first-year expenses, claims expense, administrative expenses, and renewal expenses. ...
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Insurance policy for which the required premium has been paid. ...
Circumstance in which no agent is servicing a debit. ...
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