Controlled Business FAQ

How does the insurance industry define controlled business? Insurance business over which an insurance producer is able to exercise personal influence. Some states prohibit a producer from obtaining or continuing to hold a producer license if more than a certain percentage of the producer’s business is generated through controlled business.* * https://www.naic.org/documents/prod_serv_marketreg_stl_hb.pdf   How does Mutual of Omaha define controlled business? An application is considered controlled business when the producer is related to the proposed insured or owner. Additional controlled business indicators include same last name and bank account information.   Our controlled business FAQ can help explain what controlled
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).