2021 Agent Incentive Program
For qualified Hospital Indemnity applications submitted between Jan. 1, 2021, and March 31, 2021.
1. A minimum of three Hospital Indemnity applications must be submitted and approved to qualify for the payout.
2. Internal replacement are not eligible.
3. An agent can earn a payout in a given month as soon as a bonus their is achieved with submitted and approved application.
4. Bonus tiers are counted accumulatively throughout the quarter.
5. Bonus tier payout amount are paid retroactively on all preceding qualifying applications.
16 apps X $50 per app = $800
3 -9 applications
$35 per application
$50 per application
$60 per application
The payout applies in all states where the product is available.
Medico First Quarter Agent Incentive Program details and rules:
1. All eligible applications must have a signature date no earlier than Jan. 1, 2021, and no later than March 31, 2021.
2. Policies must be approved before the payout to be eligible.
3. Payout will occur approximately 45 days after the qualifying month.
4. A chargeback will be assessed on any policy that does not become effective.
5. Qualifying policies include Hospital Indemnity plans from Medico Insurance Company.
6. Medico makes final determination on bonus program eligibility and reserves the right to discontinue or amend this incentive program at anytime.
7. Agents must remain in good standing and be actively contracted with Medico at the time of payout.
8. The value of any award will be reported as income to
the awarded recipient in accordance with the rules
and regulations of the Internal Revenue Service. To the extent that the value of any award will be included in the recipient’s income, the recipient will be responsible for any taxes due. You may wish to consult a tax professional as to how this may affect you.
9. By participating in this program, you agree to release and hold harmless Medico, its affiliates, owners, employees, officers, directors, and agents from any and all liability for any injury, loss, or damage of any kind arising from
or in connection with award eligibility or participation. This release shall include actual, special, incidental, consequential, or punitive damages connected in any way with eligibility and participation in this program.
10. The laws of the state of Iowa shall govern the rules related to this award program. Participants consent to the resolution of any disputes solely through the alternative dispute resolution procedures outlined in any agent or distributor agreement that may be in place between the agent and Medico Insurance Company.
11. Medico Insurance Company further reserves the right
to make any final adjustments to incentive amounts previously paid, based upon policy activity, such as cancellations, that would have made the policies ineligible. All incentive decisions made by Medico are final. This bonus is not transferable.