The Palmer Agency prvides these "Frequently Asked Questions" as a resource to our Agents. If you have a question and you do not see the answer in our FAQs, please contact us so we can help you!

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Go to Life Frequently Asked Questions

General (Download PDF version)

Q1. What is the difference between licensed, contracted, and appointed?

A. Generally speaking, the terms are used interchangeably for an agent being set up to write business with a particular carrier. However, technically, there are slight differences. Every agent must have a license to sell insurance in their state issued by the Insurance Commissioner's office. After that, an agent can get contracted through a brokerage house with a specific carrier to be able to write business with them. Furthermore, the contract requires the agent get appointed with every state in which they wish to market their products.

Q2. How do I know if I have an active license and appointment?

A. To know whether an agent has an active license, or is appointed with a particular carriers, they can either check online on the agent search section of the Commissioner's website or they can call The Palmer Agency.

Q3. What does "pre-appointment" mean?

A. Pre-appointment means that an agent must be licensed and contracted with a company before any new business can be solicited, signed, dated, and submitted. Not all carriers are pre-appointment, but a few still are. It is vital that an agent know which carriers are and are not pre-appointment, especially when submitting business with a new carrier or one that you have not done business with in the last 6 months. Any questions regarding this should be directed to the Licensing Manager.

Q4. How do I know if the carrier I'm submitting business with is pre-appointment or not?

A. For any questions regarding pre-appointment carriers, please contact the Licensing Manager.

Q5. If I'm contracted with a carrier for life insurance, does that contract me for other products with that carrier as well?

A. No it does not! Carriers that have multiple products might require separate contracts for different products. For example, if an agent is contracted to sell life insurance with a carrier and wants to also sell long term care, the agent might need to fill out a separate contract to sell the other product. . Any questions regarding this should be directed to the Licensing Manager.

Q6. How do I get appointed in more than one state with the same carrier?

A. Usually if an agent decides to become appointed in more than one state, he/she will need to email or fax The Palmer Agency a copy of the license from that a particular state with a request for us to appoint in that state with that carrier. You can also send multiple state licenses with the initial contract. Please note that most carriers no longer complete the appointment until the first piece of new business is received for that state. . Any questions regarding this should be directed to the Licensing Manager.

Q7. How can I assign commissions to my agency/business?

A. Some carriers require an agent to submit one agent contract, along with a corporate license to get an agent set up to assign commission. Other companies require the president of the corporation to also submit a contract before another agent can assign commissions under that corporation. Some carriers that have E&O requirements also require the corporations to which commissions are being assigned to have E&O coverage as well. If an agent wants to assign commissions, please be sure to contact the Licensing Manager at The Palmer Agency to make sure that all the necessary steps are taken in the proper order so that there is no time lost in the process and so that commissions are paid correctly the first time.

Q8. Do I need to complete AML (Anti Money Laundering) Training to get contracted/appointed with a carrier?

A. The Department of Treasury requires ongoing Anti-Money Laundering (AML) training for Insurance Producers for all permanent / return of premium products. Some carriers are now requiring the training for their term products also. Any agent who has not completed the required AML Base Course must complete the training before a covered product policy will be issued. Each carrier has their own guidelines to which products require the AML training courses please contact the Licensing Manager with any questions. PLEASE NOTE: You cannot gain access to the LIMRA website until you have submitted your first piece of new business to a carrier that requires AML training. The carrier has to submit your name to LIMRA first.