Commissions Without a License?
- Thread starter tins
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You have to be licensed.
- 25,055
Health I do not know. Life, I know several guys that let their license lapse and still get vested renewals. Down to the company minimums. Say $100 per year.
- 9,744
Could be some state variation, but in most, you only need be licensed at the time of sale (signing an application).
- 11,996
I think that's how my old Aetna Medicare Advantage renewals are working and I believe the same with my life renewals.
Is there any state and/or product (other than Medicare Advantage) where we know you have to be licensed to get your renewals?
Even if you were able to keep your renewals, why wouldn't someone just keep their license up? Surely a referral or random piece of business might present itself, certainly enough worth doing a few CE credits and giving a state a few bucks, at least for your resident state. I've let some of my non-res licenses go, but I can't think of a reason to let the res license go.
But then maybe I am wrong! I don't know. I know you do not have to be appointed with some carriers to continue to receive commission ( I have that situation with Guardian). However, if you do not have CURRENT E&O coverage AGLA will not pay you commission so I assume the same would be true if you were not licensed.
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I would have to dig back through my appointment papers, but I am under the impression you must maintain a license to receive renewals.
But Paul has been in the business for a while and he may be correct.
Or it could be he is just speaking for the way it is in Florida.
Or he may not know WTF he is talking about.
But Paul has been in the business for a while and he may be correct.
Or it could be he is just speaking for the way it is in Florida.
Or he may not know WTF he is talking about.
- 9,744
By far the most likely scenario!
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