Life Agent Broker Agreement
The Strategic Alliance Financial Group Inc. (SAFG) Insurance and Investment Life Agent/Broker Agreement is a contract between SAFG and an independent Agent/Broker, effective upon signing, governing the solicitation and submission of life insurance and annuity applications to various Life Insurance Companies through SAFG.
The agreement outlines the Agent/Broker's responsibilities, including maintaining necessary licenses, adhering to SAFG and insurer rules, and not altering contracts or incurring debts without authorization. It details compensation structures, including First Year Commissions, production bonuses, and chargebacks for lapses or cancellations, with the Agent/Broker guaranteeing repayment of unearned advances.
The agreement also includes provisions for assignment of debts to SAFG, termination conditions (e.g., license cancellation or misconduct), commission vesting, and strict guidelines for handling clients' personal information, ensuring compliance with legal and regulatory standards.