What must agents do if they misrepresent a plan to clients?

Agents are required to uphold ethical standards and regulations in their practice, which includes accurately representing the plans they offer to clients. If an agent misrepresents a plan, they can face significant penalties. These penalties may include fines, disciplinary action from regulatory bodies, or even the loss of their license to operate. Such consequences reinforce the importance of integrity and transparency in the insurance industry, protecting consumers and maintaining trust in the marketplace.

The potential ramifications serve as a deterrent against misrepresentation and emphasize the responsibility that agents have in providing clients with truthful and comprehensive information about insurance products. This is crucial not only for compliance but also for fostering a positive relationship with clients based on trust and accountability.