I stopped selling insurance this year and my licenses are expiring at the end of this month. Does anybody know if I will still get my renewal commissions paid in January if I no longer have a valid license? I only sold MAPD plans. I keep getting different answers from different places! Thanks!
Renewals Without Active License?
- Thread starter lks288
- Start date
There was an agent who didn't f certify the 2nd year and she said she got renewals. I don't understand why, since you are supposed to earn the renewals by servicing the client.
- 11,995
Probably an admin mistake.
For Medicare Advantage you need to be licensed and certified, for most other insurances you don't.
Yep, most likely an accounting record keeping error, and subject to charge back and bad debt write offs if not paid back. It would clearly be the exception and not the rule if compensated when not licensed. After all, the certification even says that one must be licensed and certified to receive comp.
- 29,477
I sold a lady a PacifiCare PDP in 2006. I haven't been certified with UHC for 7 or 8 years, but every month without fail I get my $1.67 renewal from UHC. I don't know how much longer I'll be getting it though...she's 103 years old.
The trick is to make them promise to outlive you. If that doesn't work, use the renewals to buy individual whole life policies on each PDP client.
Maybe she sold med supps?
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