Reminder: Agents Who Solicit a Policy in One State and Deliver It in Another Must Be
Licensed and Appointed in Both States.
Click here for the full Bulletin
When life and health insurance products are solicited in one state for delivery in
another state, the following requirements apply to ensure full compliance with
applicable laws and regulations.
Licensing, Appointment and Product Guidelines
For life and annuity products, the soliciting agent must be licensed and appointed
in both the state where solicitation occurs and the state where delivery is to be
made. The product will be issued based on the delivery state. In most cases,
delivery state and the policyholder’s resident state will be the same. For annuity
products, please also refer to Genworth Bulletin #156078, dated 5/17/13, for
guidance.
Due to the nature of long term care insurance (LTC) products, the policyholder’s
resident state should be used instead of the delivery state (if there is a difference)
for purposes of the policy form. Consequently, the soliciting agent must be licensed
and appointed in both the state where solicitation occurs and the resident state of
the applicant.
For a linked benefit product such as a universal life policy with an LTC rider, the
delivery state and policyholder’s resident state must be the same in order to
conform to all applicable requirements.
Agents should only solicit a prospective policyholder under circumstances in
which the policy form being solicited is filed and approved in the state where it is
to be delivered in the case of life and annuities, or in the applicant’s resident
state in the case of LTC.
Even though only a small percentage of applications are received in which the solicitation and delivery/owner
resident state are different, you should be aware of the requirements in both states and be prepared to comply
with them. Your compliance also helps us process cases more efficiently and may help protect you from
possible state action for conducting business without a proper license or appointment.
Please remember, state requirements vary. As a result, two-state transactions should be started only after
determining applicable licensing/appointment requirements. Click here for a list of pre-appointment states.