Webb2. Yes, a policyholder violates the Insurance Law when he accepts an inducement on the purchase of a life insurance policy that is not specified in the policy. Facts: A licensed … WebbThe anti-rebating statutes are constitutional. 1996 Attorney General Letter. The Alaska Division of Insurance has determined that the following are violations of the rebating …
Rebating and Referral Fees IIAT
WebbA) $100,000 for cash value on one life and $500,000 for all benefits. B) $100,000 for cash value on one life and $300,000 for all benefits. C) $100,000 for cash value on one life and $250,000 for all benefits. D) $50,000 for cash value on one life and $150,000 for all benefits. Answer B is correct. WebbOver time, many states have enacted carve-outs/exceptions to their anti-rebating laws with respect to certain “value-added” services, promotional items, raffles/drawings, etc. These carve-outs and exceptions, ... inducement to insurance or after insurance has been effected, any rebate, discount, abatement, credit, ... kipp scholarship programs
Gifts, Entertainment, Rebating and Giveaways - CEFLI
WebbCalifornia’s anti-rebating insurance codes 750, 12760 and 12404 According to the Insurance Coverage Law Center , Section 750 applies to any person or entity that … WebbCalifornia’s next anti-rebating statute specifically applies to home protection companies: California Insurance Code 12760 prohibits the payment of a commission to any person … WebbThis one covers some risks and moral hazards. First, rebating is illegal. So in some states, even customers can have legal issues, if they use rebating. Second, agents who use … lyon ford in lewisburg tn