Compliance, Industry News

Let’s Talk Compliance Sales, Final Rule

Episode Summary

This podcast episode focuses on providing insurance agents with helpful compliance tips and best practices as they prepare for the upcoming Annual Enrollment Period (AEP). The hosts explain that compliance doesn't need to be intimidating or confusing with the right information.

They emphasize being transparent about any purchased leads by disclosing lead sources to carriers. Carriers want to ensure agents are getting leads compliantly. There must also be 12 hours between an educational event and a sales event if held at the same location or adjacent buildings.

A Scope of Appointment (SOA) is required before discussing plan benefits with a client. The SOA is valid for up to 1 year or until the appointment is conducted. If the discussion topic changes from the original SOA, it's best to collect a new one.

The hosts explain that required disclaimers depend on the content being shared. Anytime marketing information is shared, the verbatim Third Party Marketing Organization (TPMO) disclaimer is legally required. This applies to both written and verbal communication.

For sales calls, enrollments can only be conducted during inbound calls initiated by the client. For scheduled outbound appointment calls, the agent must have the client call back in order to enroll them. Recording calls and following sales scripts helps ensure full compliance.

The 48-hour waiting period between the SOA and enrollment is only required if conducting a sales presentation. For immediate enrollment, there is no waiting period. This information clarifies common misconceptions agents have about SOAs and enrollments.

Tools like SimplyEnroll can greatly simplify compliance by handling SOAs, call recording, and sales scripts seamlessly. The hosts emphasize using common sense, focusing on the customer, and staying up-to-date on the latest regulations. A smooth AEP starts with compliance confidence.


(0:00:04) - Broker Link podcast focuses on compliance and sales ahead of AEP
(0:00:41) - It's exciting to see that people are getting the topic of compliance
(0:01:48) - We talked about timing between an educational event and a sales event
(0:03:37) - Another topic that we discussed around the SOA is the scope of appointment
(0:08:56) - Another thing, Diana, that people were asking about was the disclaimers
(0:10:32) - The TPMO disclaimer is a standardized disclaimer
(0:12:22) - There are three exceptions to the 48 hours cool off period for SOAS
(0:14:04) - You have to read the disclaimer for inbound and online enrollments
(0:15:22) - Simple enroll is a very helpful tool when it comes to compliance
(0:17:58) - If the consumer initiated the call and you went into the sales presentation
(0:19:43) - The AEP sales period is around the corner, literally
(0:22:22) - How do you get started with the brokerage, Inc?

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