Can Lawyers Share a Life Insurance Fee in FL?

When a client purchases a life insurance policy, there is usually a fee attached to it, that is charged by the insurance advisor. The fee is charged in exchange for the advice given in terms of an opinion on the fairness of the premium paid by the policy, the adequacy of the insurance used for a specific goal, the need for insurance, and the foundation of a life insurance design. However, there are some caveats when it comes to being able to charge a fee for this advice.

In the state of Florida, there is a restriction on who can accept a commission off the sale of life insurance products. Per Florida Statute § 626.794(2), “No person other than a licensed and appointed life agent shall accept any such commission or other valuable consideration, except as provided in subsection (1).” Additionally, looking at § 626.794(1) it states, “No life insurer or licensed life agent shall pay directly or indirectly any commission …, unless such person holds a currently valid license and appointment to act as a life insurance agent as required by the laws of [Florida];…, and a licensed and appointed life insurance agent may share any commission or other valuable consideration with, an incorporated insurance agency in which all employees, stockholders, directors, or officers who solicit, negotiate, or effectuate life insurance contracts are qualified life insurance agents holding currently valid licenses and appointments.”

Based on an analysis of this statute it would appear that the only way that Lawyers may share a Life Insurance Fee is if both lawyers are licensed and appointed in Florida as a life insurance agent.

If you have further questions regarding insurance fee’s and attorney’s, we’re more than happy to assist in answering them. We house a myriad of dedicated associates with years of experience. If you’d like to schedule a consultation, we may be reached at or (786) 837-6787.

*Disclaimer: This blog post is not intended to be legal advice. We highly recommend speaking to an attorney if you have any legal concerns. Contacting us through our website does not establish an attorney-client relationship.*