What does the Code of Ethics for life insurance agents primarily establish?

The Code of Ethics for life insurance agents is fundamentally designed to promote public trust and define appropriate business behavior within the industry. It sets standards that agents are expected to follow, ensuring that they conduct their business dealings honestly and transparently, which is critical for maintaining credibility with clients and the overall integrity of the insurance profession.

This code encourages ethical practices such as honesty in marketing, fair treatment of clients, and proper disclosure of information, all of which help to foster trust between agents and policyholders. By adhering to the Code of Ethics, agents can establish a reputation for integrity and professionalism, which is essential for long-term success in the industry.

While other elements like monetary incentives, training requirements, and policy designs are important aspects of the insurance business, they do not directly relate to the ethical standards and trust-building measures that the Code of Ethics specifically aims to address.