May a preneed sales agent be paid a commission by an insurance company in addition to any commission paid by a preneed provider for sale of a preneed contract?
A. Yes, if the preneed sales agent is properly licensed as an insurance producer and properly appointed by the paying insurance company EXCEPT a preneed sales agent may not be paid a commission incident to a trust’s purchase of life insurance under Ala. Act No. 2008-271 even if properly licensed and appointed. A person not licensed as a producer and properly appointed may not be paid insurance commissions.
Related Questions
- May a preneed sales agent be paid a commission by an insurance company in addition to any commission paid by a preneed provider for sale of a preneed contract?
- When a commission paid employee is discharged with sales income yet to be received by our company, when is the final paycheck due?
- How does life insurance agent earn if no commission comes from insurance company?
