Nebraska news flash for MLMers.

[Cornelius]

New Temp Lic.


[EXTERNAL LINK] - Nebraska Adds an Insurance Agent Apprentice License | ThinkAdvisor

 

[DHK]

THIS: "An apprentice producer cannot use the new license to help consumers with transactions, such as product exchanges, that are likely to lead to the termination or transformation of existing life insurance policies or annuity contracts, according to the guide."

 

[toolbelt]

Uplines over entry-level recruits will now have to share part of their commission with those whose pockets they previously picked. It will not be a game-changer for new recruits seeing as policy sales per licensed rep average less than 2 1/2 per year anyways.

 

[Allen Trent]

I see this more beneficial in PC staffing or summer intern positions at carrier, agency, IMO, etc. Basically, would help let the person be hired to begin some activities before & while going through testing.

I am sure it could help in life sales too, just not sure if it allows them to receive commissions from sales or not

 

[Cornelius]

I think Georgia and Illinois already allow temp licensing.

 

[Cornelius]

THIS: "An apprentice producer cannot use the new license to help consumers with transactions, such as product exchanges, that are likely to lead to the termination or transformation of existing life insurance policies or annuity contracts, according to the guide."

I wonder if the resident license holder can do a replacement and do a split commission if the new agent brought in the potential client.

 

[Cornelius]

Something else I found out that others may know already. Some states will reimburse licensing fees for veterans. I'm not sure which fees. But there's nothing like a reimbursed fee.

 

[goillini52]

I think Georgia and Illinois already allow temp licensing.

I've had 90 day Temp. Licenses in Nebraska, Tennessee and Illinois. That was in the 70's and 80's, so I'm not sure if they still do it. This allowed a new agent to earn commissions while you studied for your test. There weren't any limitations.