QUALIFICATION OF AGENTS AND BROKERS FOR THE SALE OF
VARIABLE LIFE INSURANCE
§ 82.81. Qualifications to sell variable life insurance.
(a) No person may sell or offer for sale in this Commonwealth a variable life insurance policy unless the person is an agent and has filed with the Commissioner, in a form satisfactory to the Commissioner, evidence that the person holds a license or authorization which may be required for the solicitation or sale of variable life insurance.
(b) An examination administered by the Department for the purpose of determining the eligibility of a person for licensing as an agent will, after the effective date of this chapter, include questions concerning the history, purpose, regulation and sale of variable life insurance as the Commissioner deems appropriate.
Source The provisions of this § 82.81 adopted August 4, 1978, effective September 5, 1978, 8 Pa.B. 2171; amended April 28, 1989, effective April 29, 1989, 19 Pa.B. 1835; corrected June 30, 1989, effective retroactive to April 29, 1989, 19 Pa.B. 2754. Immediately preceding text appears at serial page (137059).
Notes of Decisions Public Policy
This regulation applies only to unlicensed individuals who sell or offer for sale insurance policies and does not apply where appellant is attempting to ignore the contract for commission splits based on appellee’s referrals. The public policy advanced by this provision is the preclusion of insurance sales to the public by unlicensed, and therefore untrained, inexperienced and possibly unscrupulous individuals. In this case, all the sales were made by a licensed and highly experienced agent, namely, appellant. Thus, the public policy concerns of this regulation were satisfied and did not operate to void the otherwise enforceable agreement entered by the parties. Rapp v. Lorch, 667 A.2d 240 (Pa. Super. 1995); appeal denied 675 A.2d 1250 (Pa. 1996).
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