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LOMA, (formerly the Life Office Management Association) working together with LIMRA (formerly Life Insurance Marketing and Research Association) under the umbrella organization LL Global is an American trade associations for the insurance industry in the United States.
The majority of insurance companies will not disclose information or discuss an insured party's account with an agent other than the agent of record. An insured party wishing to change insurance agent (s) must submit a revised agent of record letter [ 1 ] to the respective insurer authorizing said insurer to release the insured party's ...
GEICO was founded in 1936 by Leo Goodwin Sr. and his wife Lillian Goodwin to provide auto insurance directly to federal government employees and their families. [6] Since 1925, Goodwin had worked for USAA, an insurer that specialized in insuring only military personnel.
The letters sought to create a false sense of urgency, with phrases like 'final notice,' and 'immediate response requested.'" These types of phrases could cause any consumer to stop in their tracks.
In December 1901, the National Sick and Accident Association was sold to C. A. Craig to settle an estate. By 1902, the company was nearly insolvent. [1] In the early years, the company's business consisted primarily of low-premium, low-benefit "sick and accident" policies, [1] which is a form of disability insurance that paid the holder a stated amount for every week he was unable to work due ...
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
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Sales Letter intended to get the customer to commit to purchasing the product or service, typically without any further intervention. Sales letter are a special form of advertising, aiming to sell company’s goods and services. Sales letter must be arouse interest, sound convincing, create a desire and encourage the reader to take action.