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Insurance Department Adopts Rule to Help Protect Senior Citizens |
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Insurance Department Adopts
Rule to Help Protect Senior Citizens
The Ohio Department of
Insurance has adopted a rule that makes it an unfair and deceptive sales
practice for insurance agents to use senior-specific certifications and
designations when selling life insurance, annuities, or health insurance,
including Medicare products in the state. The rule (3901-5-11)
specifically states that it is unfair, deceptive and a dishonest practice for an
insurance agent to use a senior-specific certification or professional
designation in a manner that violates this rule and Ohio law. Ohioans who
believe an agent is committing fraud or misconduct should call the Department’s
Fraud hotline, 800/686-1527. Information about agent fraud and misconduct can be
found on the Department’s website.
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