9 (2009) dated March 3, 2009 to provide advice and guidance to licensees regarding the kinds of services can be provided without violating the anti-rebate laws
of the state of New York.
interfere with discounts to consumers, preventing the cost of coverage to the insured from being lowered.
The discounted loan (financial services) constituted far and away the greatest fraudulent disregard of state anti-rebate laws
in the history of my three decade career.
The state anti-rebate laws
prohibit not only the direct kick-back of commissions to the policy buyer, such as where the life insurance agent receiving the commission writes a check back directly to the buyer, but also indirect payments, such as where the commission is used to provide something of value to the buyer like a below market loan.