Referral/Marketing fee legality

I don't believe there is any law regulating Referral Fees or Network Payments.

I also wondered about that when I read it. I know you can't "pay" to get someone to buy insurance, but I don't know of anything that would prevent one from paying for referring someone to you. Lead companies charge for the same thing all the time.

It is still a "referral". They are giving you a name for you to call of someone who is suppose to be interested in insurance. I don't believe it matters if it a company, a friend or a client. The money is not an enticement to buy insurance.
 
As long as the referral incentive is not based on the prospect buying I think things are fine. I could not get a direct response from the DOI and I was told to contact an attorney for specifics. Funny thing considering the fact that I "thought" that was part of their job to explain the regulations.
 
I give out $25 gift cards to Target or Walmart to my clients all the time.
I let them know to send me everyone they know that may or may not need insurance. IF they sign up for insurance that client gets a $25 gift card.

It works and is a great incentive for them.

This is similar to what I do. I do gift cards sometimes and sometimes I use 2d/3nt hotel packages that I get in buld from a travel agency. If I do remember though it is legal as long as you are not giving them something as a reward to sign up, that would be called "REBATING". To my knowledge Florida is the only state that you rebate the client.
 
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