FYI: An easier LOA renewal payment validation process
Good news: Effective February 9, uplines will no longer need to request an agent of record reassignment when a license-only writing agent (LOA) terminates from your company, or does not meet renewal commission requirements.
What’s the new process?
- Going forward, the original LOA may remain the agent of record on the policy, without impacting the renewal payments to the upline.
- Aetna will still process agent termination requests, but uplines do not need to move the corresponding book of business for renewals to pay.
Review commission eligibility requirements
Commission eligibility requirements for agent of record, payees, and principals for year two and beyond renewals have not changed and are listed below. As a reminder, if the agent of record is an LOA, the direct upline must meet the criteria.
- Must have been eligible to receive initial compensation
- Agent contract has not been terminated with cause
- Active license in state of sale on the 1st of the month that the renewal payments are generated
- Active appointment in state of sale on the 1st of the month that the renewal payments are generated
- Completed annual certification process for the current renewal year by the 1st of the month that the renewal payments are generated
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