Commission vs Consulting Fees

IDOI Bulletin #229 – COMMISSIONS vs CONSULTING FEES. Basically what this says if I can’t earn a COMMISSION because the INSURANCE COMPANY has stopped paying COMMISSIONS (UNITED HEALTHCARE) or has decided to stop paying COMMISIONS during the SPECIAL ENROLLMENT PERIOD (SEP), I can negotiate with my PROSPECT or CLIENT to be paid a CONSULTING FEE. I MUST USE AN INSURANCE CONSULTING FEE AGREEMENT THAT IS APPROVED BY THE IDOI, or, I CAN USE THE INSURANCE CONSULTING AGREEMENT THAT THE IDOI HAS CREATED. IT IS ATTACHED.

Thank You David A Berman, CLU for sharing this information with our members.

Indiana Department of Insurance – Commission vs Consulting Fee

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