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White Swan for Partners
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  • White Swan for Partners Knowledge Base
  • 💡Platform Overview
    • Introduction to White Swan for Partners
    • Platform Capabilities
      • Digital Insurance Experiences
      • Supported Product Types
      • Supported Solution Types
      • Best-Interest Philosophy
      • Client Success Managers & Advanced Planning
    • Quick Start Guide
    • Using the Platform
      • White Labeling
      • Instant vs Custom Quotes
      • Page Types Overview
      • Sharing Pages
      • Customizing Pages
      • Custom Cases
      • Tracking Cases
      • General Company Settings
      • Policy Solve For Options
    • Client Experience
      • Guided vs Quick Quote Flow
      • Policy Type Recommendation Engine
      • Sample Plan Visualizations
      • Personal Plan Requests
      • Personal Plans
      • Applications
      • Underwriting & Issuance
    • Page
    • Plans to Access Platform
      • Concierge Plan
      • Digital Agent Plan
      • Innovator Plan
    • Instantly Quotable Carriers/Policies
    • Earnings
      • Understand Life Compensation & Our Philosophy
      • Activating Earnings
      • Licensing Considerations
      • Tracking Earnings
    • Platform Roadmap
    • Submit A Feature Request
  • 💻Embedding White Swan
    • Overview of White Swan Embed
    • Quick Start Guide
    • Using Embed + API/Zapier
  • ⚡Zapier Integration
    • Overview of Zapier Integration
    • Quick Start Guide
    • Example Use Cases
      • Integrate With CRMs
      • Integrate With Accounting/Payroll Tools
      • Integrate With Marketing Platforms
      • Integrate With Business Intelligence/Analytics Tools
      • Integrate With App/Website Builders
    • Data Formatting Standards
    • Triggers
      • New Plan Request Started
      • Plan Request Finished
      • New Personal Plan
      • New Change Request
      • New Application Started
      • Application Finished
      • New Plan Offered
      • New Plan Delivered
      • New Earnings Event
    • Create Actions
      • Start Personal Plan Request
      • Submit Complete Plan Request
      • Create Pre-Fill Information
    • Search Actions
      • Plan Request(s)
      • Personal Plan(s)
      • Referred Client(s)
      • Account User(s)
      • Earnings Event(s)
    • Using ChatGPT To Create Zaps
  • ✨AI Landing Page Builder
    • Overview of AI Landing Page Builder
    • Generate Landing Pages With AI
    • Editing Landing Pages
  • ⚙️API Documentation
    • Overview of White Swan's API
    • Authentication
    • Data & API Standards
    • Webhooks
      • Creating/Managing Webhooks
      • New Plan Request Started
      • Plan Request Finished
      • New Personal Plan
      • New Change Request
      • New Application Started
      • Application Finished
      • New Plan Offered
      • New Plan Delivered
      • New Earnings Event
    • Action Calls
      • Start Personal Plan Request
      • Submit Complete Plan Request
      • Create Pre-Fill Information
    • Information Calls
      • Plan Request(s)
      • Personal Plan(s)
      • Referred Client(s)
      • Account User(s)
      • Earnings Event(s)
  • ⛳BackNine Integration
    • Overview of BackNine Integration
    • Quick Start Guide
    • Capabilities
      • Instant Quotes
      • Instant Applications
      • Case Support
  • 💹Wealthbox Integration
    • Overview of Wealthbox Integration
    • Quick Start Guide
    • Capabilities
      • Import Contact from Wealthbox
      • Search Wealthbox Contacts in White Swan
      • Start a Plan Request
    • Notification Settings
  • Other Direct Integrations
    • Paperclip
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  1. Platform Overview
  2. Earnings

Licensing Considerations

Navigating the regulatory landscape of life insurance can be complex, but we're here to help.

Typically, sharing compensation as a percentage of our earnings is available only when the partner possesses the appropriate licenses.

However, for partners without the necessary licenses, we offer fixed incentives for all products, with the exception of variable universal life and private placement life.

With that said, here's a breakdown of the licensing considerations you should be aware of:

  1. State-by-State Regulation: Life insurance is regulated on a state-by-state basis. This means that each state has its own set of licenses and requirements. Generally, however, holding a license in one state allows you to quickly acquire a license in another state without passing another exam.

  2. Additional Licensing for Riders: If certain riders such as long-term care or chronic care are included in a plans, partners need to carry health insurance licenses. Like life insurance, health licenses are also regulated state by state. The good news is that life and health licenses can usually be taken together in one exam and licenses for life and health generally cost the same as licenses for just one of them.

  3. Registered Investment Products: Products like variable universal life and private placement life are considered registered investment products. These fall under federal securities laws, necessitating additional licenses. Partners would need a registration and Series 6, 63, or 7 licenses, in addition to the standard life insurance licenses. Without these licenses, partners aren't able to receive any compensation on these cases at all, neither as a percentage nor a fixed fee. If you do not want to offer registered investment products through your White Swan account, admins can disable them in your accounts general settings.

  4. Licensing Assistance: We understand that managing licenses can be a daunting task. That's why we can refer partners to trusted providers who specialize in licensing. Our general advice to partners is to aim for licensing to maximize earnings from life insurance offerings.

By understanding and adhering to these licensing considerations, partners can ensure they operate within the bounds of the law, maximizing their potential earnings and expanding their offerings with confidence.

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Last updated 1 year ago

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