Managment would like to offer an incentive to LO for selling credit life. If total sales reach $3,000 then the top three producers would receive $100, $75 and $50. This incentive would run for 3 months. The insurance company wants to pay the $50 incentive for the 3 months. Is this ok? Our state allows for the payment of "commissions" to licened insurance producers, which our LO are. However, it doesn't define commission. So can we and the insurance company pay this type of incentive to the LOs? Thanks in advance for your help!
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