Jun 15, 12, 3:05 pm
Does anyone know of any deals whereby you can get miles for taking out a life insurance policy? Thanks.
If you search online with the keywords: life insurance inducement, you will see that many states prohibit offering such. For example, New York:
N.Y. Ins. Law � 4224(c) (McKinney’s Supp. 2005) states:
No such life insurance company and no such savings and insurance bank and no officer, agent, solicitor or representative thereof and no such insurer doing in this state the business of accident and health insurance and no officer, agent, solicitor or representative thereof, and no licensed insurance broker and no employee or other representative of any such insurer, agent or broker, shall pay, allow or give, or offer to pay, allow or give, directly or indirectly, as an inducement to any person to insure, or shall give, sell or purchase, or offer to give, sell or purchase, as such inducement, or interdependent with any policy of life insurance or annuity contract or policy of accident and health insurance, any stocks, bonds or other securities or any dividends or profits accruing or to accrue thereon, or any valuable consideration or inducement whatever not specified in such policy or contract; nor shall any person in this state knowingly receive as such inducement, any rebate of premium or policy fee or any special favor or advantage in the dividends or other benefits to accrue on any such policy or contract, or knowingly receive any paid employment or contract for services of any kind, or any valuable consideration or inducement whatever which is not specified in such policy or contract..
Jun 15, 12, 5:37 pm
Darn I was looking for such an offer.
Jun 15, 12, 11:24 pm
As a licensed agent I can tell you that this is a nonstarter. Sorry. Inducements not allowed in any state.