Antirebate Law

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Antirebate Law

A law banning the practice in which an insurance agent gives a certain percentage of his/her commission to a policyholder as an incentive to buy a policy from him/her. An antirebate law is intended to encourage fair business practices in the insurance industry. Most U.S. states have antirebate laws.
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However, there is no reading of permissible services that would allow severely discounted financial services in the form of off-market loans without being in violation of any states' anti rebate laws.