Has a Potential Client Ever Asked You to 'rebate'?

[Cory]

I agree with LGilmore. It does make it tough for agents who are not doing this, but regardless of the amount, illegal, or against company policy... karma has a funny way of catching up with agents that do so.

 

[Sawcruhteez]

I'm new to this and feel very unclear as to what constitutes a rebate. Say that I give one of my good clients some gift cards to a restaurant out of the goodness of my heart...isn't that technically rebating?

 

[LGilmore]

Saw?

Depending on the state that could be considered a large fine as you may have limits on the gifts you can give. Rebating involves cash, not gift cards.

 

[SD1115]

I believe in NJ, the maximum value of a gift is $25

 

[Sawcruhteez]

^^^ Wow I had no idea about such limits, I will have to look into the regulations in CO - thanks!!!

 

[BIG RED IS BACK]

I'm new to this and feel very unclear as to what constitutes a rebate. Say that I give one of my good clients some gift cards to a restaurant out of the goodness of my heart...isn't that technically rebating?

REALLY? This issue had numerous questions on my state test and in training for the tests........

You better find out to CYA......

 

[Sawcruhteez]

This just seems so wild to me. So in NJ I couldn't treat a client to a round of golf if it cost me more than $25? I just thought that's the type of stuff good insurance agents do on the regular...

 

[BIG RED IS BACK]

This just seems so wild to me. So in NJ I couldn't treat a client to a round of golf if it cost me more than $25? I just thought that's the type of stuff good insurance agents do on the regular...

Usually there is a difference between rebating for a policy and rewarding someone for a referral....

 

[timamr]

this should sum it up.....When in doubt, don't!