HOT STATES INSURANCE LICENSING - ALL LINES

Writing agents must have an appropriate insurance license (life, health and variable contracts which includes variable annuity and variable life), security registration and be appointed with the respective product provider or Agency affiliation in each state business is solicited. Override commissions for business written in “Hot States,” can only be paid to uplines who have the appropriate insurance license (life, health and variable), security registration and appointment with the respective product provider or Agency affiliation where business is written by their downline.*

HOT STATES FOR LICENSE AND APPOINTMENTS

THERE ARE THREE (3) JURISDICTIONS THAT REQUIRE AN INDIVIDUAL TO BE LICENSED IN THE STATE AND MAINTAIN A PROVIDER APPOINTMENT IN ORDER TO RECEIVE OVERRIDE COMMISSIONS. THESE THREE STATES ARE:

• Florida

• Virginia

• West Virginia

*For override purposes, appointments should only be requested for uplines in these states!

HOT STATES FOR LICENSE ONLY

THERE ARE FIFTEEN (15) JURISDICTIONS THAT REQUIRE AN INDIVIDUAL TO BE LICENSED IN THE STATE TO RECEIVE OVERRIDE COMMISSIONS (APPOINTMENT NOT REQUIRED). THESE STATES ARE:

• Alabama

• Georgia

• New Mexico

• South Dakota

• Louisiana

• Kentucky

• Massachusetts

• Mississippi

• Montana

• North Carolina

• Pennsylvania

• Puerto Rico

• South Carolina

• Utah

• Wisconsin

HOT STATES FOR SECURITIES REGISTRATION

Writing agents must be registered in their resident state, the client home state and the state of sale

OVERRIDE COMMISSIONS FOR BUSINESS WRITTEN IN “HOT STATES” CAN ONLY BE PAID TO UPLINES WHO HAVE THE APPROPRIATE SECURITY REGISTRATION WHERE BUSINESS IS WRITTEN BY THEIR DOWNLINE. THERE ARE FOUR (4) STATES THAT REQUIRE STATE REGISTRATION IN ORDER TO RECEIVE COMMISSION OVERRIDES FOR SECURITIES PRODUCTS INCLUDING MUTUAL FUNDS, VARIABLE ANNUITY AND VARIABLE LIFE CONTRACTS. THESE STATES ARE:

• Arkansas

• Connecticut

• Massachusetts

• South Dakota

HOT STATES FOR INVESTMENT ADVISOR REPRESENTATIVES

OVERRIDE COMMISSIONS FOR BUSINESS WRITTEN IN “HOT STATES” CAN ONLY BE PAID TO UPLINES WHO HAVE THE APPROPRIATE INVESTMENT ADVISOR REGISTRATION WHERE BUSINESS IS WRITTEN BY THEIR DOWNLINE. THERE ARE FIVE (5) STATES THAT REQUIRE INVESTMENT ADVISOR REGISTRATION IN ORDER TO RECEIVE COMMISSION OVERRIDES FOR INVESTMENT PRODUCTS. THESE STATES ARE:

• District of Columbia

• New Jersey

• North Carolina

• Puerto Rico

• Texas

For states not listed above, commission overrides can be paid as long as uplines are appropriately licensed, appointed and/or registered in their resident state.