Department of Insurance
Each state has a separate Department of Insurance (“DOI”), established to oversee and regulate all types of insurance sold within the state’s borders. Insurance agents and companies desiring to sell products within any given state must be registered with the appropriate Department of Insurance. Agents must also maintain their licensing and registration within the given states in which they sell products in order to receive commissions.
State Guarantee Funds
All states have what are referred to as state guarantee funds. Operated by departments of insurance, guarantee funds are insurance funds that receive contributions from carriers that operate in the state.
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Annuity Marketing and Sales
Buying a house is undeniably a major financial decision. As a result, most people will spend some time researching and understanding the basics of the process before making a purchase: what is the role of agents; what are the transaction costs; how do mortgages brokers and title companies fit into the picture; what type of mortgage makes sense; etc.
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