We offer a club account, and one of the package benefits is an insurance benefit for AD&D insurance . Would our employees need to have an insurance license to offer this checking account?

We do not sell insurance, nor do we administer the program. If a customer opens our club account, we give them an enrollment packet. The customer fills out an enrollment card which is sent to the administrator (Sisk Association).

I sure hope not.....We've been offering this type of account for years. So far it has not been an issue. We do however, provide the "Not, Not disclosures"

We do provide the not, not, not disclosures, and have offered this account for a very long time. Someone in upper management asked me about it due to there being some issue at a larger bank they previously worked at where the regulators gave them a hard time. They didn't give me any details but asked me to check into it.

Haven't had any issues with this account in previous exams.

Ughh, I hope this isn't one of those examiner grape-vine gotcha findings. I can't imagine anyone opening these accounts would need a license. In my opinion all we are doing is referring the customer, they still have to "apply" with the actual insurer.

I've never had any issues at any bank that offered it. We have the State coming in June for our Safety and Soundness exam so I'll let everyone know if they ask about it or if I can discretely get their opinion on the subject.