Hi,
Is it legal to pay a referral fee to a licensed or non-licensed person based on application submission? I'm talking stricktly about life and health insurance.
I googled it and according to a few online sources you may pay a referral fee if the fee is not conditioned on the purchase of insurance.
Now, is application submission a purchase? For sure it is a first step to purchase an insurance policy but each state may define purchase differently. I'm in IL but couldn't find any info what is purchase and what is not.
What makes me think that an application submission may not be a purchase is ehealth affiliate program which pays referral fee when referred person submits an application. You can see it at http : // signup.cj.com/member/brandedPublisherSignUp.do?air_refmerchantid=1409810
What do you think?
Is it legal to pay a referral fee to a licensed or non-licensed person based on application submission? I'm talking stricktly about life and health insurance.
I googled it and according to a few online sources you may pay a referral fee if the fee is not conditioned on the purchase of insurance.
Now, is application submission a purchase? For sure it is a first step to purchase an insurance policy but each state may define purchase differently. I'm in IL but couldn't find any info what is purchase and what is not.
What makes me think that an application submission may not be a purchase is ehealth affiliate program which pays referral fee when referred person submits an application. You can see it at http : // signup.cj.com/member/brandedPublisherSignUp.do?air_refmerchantid=1409810
What do you think?