Commission Split Question

[Jpolk74]

I have a friend that's a newly licensed life agent in Texas. Someone she knows reached out to her to get a life insurance policy but she lives in Florida. I'm licensed in Florida so she asked if I could help her and then we can split the commission or something.
We are both appointed with the carrier so that's not a problem, but I was wondering if in order for me to split the commission at the carrier level does she have to be licensed and appointed IN Florida? or is it okay as long as she's licensed and appointed with the carrier.

 

[goillini52]

I have a friend that's a newly licensed life agent in Texas. Someone she knows reached out to her to get a life insurance policy but she lives in Florida. I'm licensed in Florida so she asked if I could help her and then we can split the commission or something.
We are both appointed with the carrier so that's not a problem, but I was wondering if in order for me to split the commission at the carrier level does she have to be licensed and appointed IN Florida? or is it okay as long as she's licensed and appointed with the carrier.

I'm sure you'd both have to be licensed in Florida andboth be appointed by the carrier in Florida.

 

[Jpolk74]

I'm sure you'd both have to be licensed in Florida andboth be appointed by the carrier in Florida.

Okay, thank you!

 

[Valor]

I concur that both of you will probably need to be licensed in FL and appointed by the same company.

I recommend though, just to be certain, to contact the insurer and ask them. I'm sure this isn't the first time something like this has come up, especially with agents in bordering states.

 

[scagnt83]

Both have to be licensed. Its a law in all 50 states.

To get paid directly from the carrier, both also have to be contracted. But you can 1099 someone as long as they are licensed in that state.

 

[adjusterjack]

Have her buy you a gift card with her own cash and send it to you. It's a Christmas present.

 

[WinoBlues]

Note: you will also want to check if with the company You both need to be with the same marketing org. Such as TA Family Markets and TA Premiere. I do not remember which company it was but I ran into that problem before.

 

[Tahoe Ray]

Note: you will also want to check if with the company You both need to be with the same marketing org. Such as TA Family Markets and TA Premiere. I do not remember which company it was but I ran into that problem before.

It's a lot of them. Most companies (that I deal with at least) are not cool with splitting the GA.

 

[WinoBlues]

It's a lot of them. Most companies (that I deal with at least) are not cool with splitting the GA.

Yup, I have done a lot of split cases. They can get a little complicated.
I prefer to be less complicated.

 

[Allen Trent]

To get paid directly from the carrier, both also have to be contracted. But you can 1099 someone as long as they are licensed in that state.

Agree, but check your carrier contract. Some carriers state you must disclose any & all producers you will be compensating. Some will require those parties to be listed on policy & appointed. Here is 1 example I am familiar with tucked in the 26 page policies & procedures.....LOL