18 Del. Admin. Code § 1404-30.0

Current through Register Vol. 28, No. 5, November 1, 2024

Section 1404-30.0 - Permitted Compensation Arrangements

30.1 An insurer or other entity may provide commission or other compensation to an agent or other representative for the sale of a long-term care insurance policy or certificate which shall not exceed 35% of the total premium paid for that policy year.

30.2 No entity shall provide compensation to its agents or other producers and no agent or producer shall receive compensation greater than 25% of the total premium paid for that policy year for the sale of a replacement long-term care insurance policy or certificate.

30.3 For purposes of Section 30.0 of this regulation, "compensation" includes pecuniary or non-pecuniary remuneration or any kind relating to the sale or renewal of the policy or certificate including but not limited to bonuses, gifts, prizes, awards and finders fees.

18 Del. Admin. Code § 1404-30.0

25 DE Reg. 714 (1/1/2022)
26 DE Reg. 767 (3/1/2023) (Final)