Final answer:
In-person delivery of a life insurance policy ensures client understanding, builds rapport, and reduces the likelihood of a policy return. Collecting higher premiums is not a valid reason for personal delivery as premium rates are determined by the terms of the policy and the insured's risk profile and are not affected by delivery method.
Step-by-step explanation:
All of the following are good reasons to deliver a life insurance policy in person, EXCEPT:
- Ensuring the client understands the policy
- Building rapport with the client
- Reducing the chances of the policy being returned
- Collecting higher premiums in person
When delivering a life insurance policy in person, insurance agents can provide a comprehensive explanation of the policy's details, terms, and conditions ensuring that the client has a clear understanding of their coverage. This face-to-face interaction fosters a stronger relationship between the client and the agent, building trust and rapport which is beneficial for long-term business. Moreover, a personal delivery reduces the likelihood of a policy being returned due to misunderstandings or second thoughts.
However, the in-person delivery of a policy does not involve collecting higher premiums. Premium rates are determined by the insurance policy's terms and the insured's risk profile, not by the method of policy delivery. Therefore, collecting higher premiums in person is not a valid reason for personal delivery of a life insurance policy.