Policy for my mom?

[PrivClientSG]

My mom wants to get a term life policy from me and name me as the beneficiary.

I’m newly licensed. Is that a red flag?

Am I able to legally write her a policy with me as the beneficiary; even tho I’ll be getting paid on commission on the policy?

Anyone of you do this before?

Thanks

It's typical, very common. All the best!

 

[David Morrison]

Most carriers Ive worked with will not advance for controlled business.

Mutual of Omaha did 6 months ago, not sure if they still do or not though. They were talking about it going away.

 

[jdeasy]

Some companies advance on controlled business. Some don’t. But the op didn’t ask that.

 

[David Morrison]

Some companies advance on controlled business. Some don’t. But the op didn’t ask that.

He’s a new agent. What’s wrong with providing additional information?

 

[jdeasy]

He’s a new agent. What’s wrong with providing additional information?

It’s not additional information if you don’t know if the company he’s using advances on controlled business.

 

[David Morrison]

It’s not additional information if you don’t know if the company he’s using advances on controlled business.

Again, he’s a new agent. Maybe he doesn’t know anything about advanced commissions? I’d disagree with you. I guess I could be sitting here just trying to call everyone out?