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Nellie offers to add a term rider free of charge if he buys a permanent life insurance policy. Which prohibited sales practice is Nellie using?

a. Inducing to insure
b. Trafficking in insurance
c. Premium rebating
d. Churning

1 Answer

3 votes

Final answer:

Nellie is engaging in premium rebating by offering a free term rider with the purchase of a permanent life insurance policy, which is a prohibited sales practice in the insurance industry.

Step-by-step explanation:

When Nellie offers to add a term rider free of charge if a customer buys a permanent life insurance policy, she is engaging in premium rebating. Premium rebating is a prohibited sales practice in the insurance industry where an insurer provides an inducement to purchase an insurance policy by offering a rebate of premiums or other benefits that are not set forth in the policy itself. This can create unfair competition and can be considered unlawful in many jurisdictions.

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