|
To receive base compensation, among other things, a broker must be broker of record and:
- An executed compensation agreement between the broker and MetLife must be in place;
- The broker must be licensed and appointed, as required by applicable law;
- MetLife must have a valid and current IRS Form W-9 on file for the broker; and
- MetLife must have documentary evidence that the client has received MetLife’s compensation notice for new business (including new customers or new coverages added for an existing customer) having an effective date on or after January 1, 2008.
Agreement
MetLife requires that an executed agreement between MetLife and the broker be in place before paying base compensation. The form of the agreement will vary depending on the line of business. MetLife reserves the right to change the form of the agreement at any time.
The Base Compensation Plan brochure is not an agreement or a contract. In the event of a conflict between the terms of this brochure and a broker’s agreement with MetLife the agreement will prevail.
Compliance with Laws and Regulations
It is MetLife's policy to pay base compensation only to brokers who comply with all applicable laws and regulations, including those that pertain to licensing, registration, appointment, the sale of insurance, and compensation disclosure.
IRS Form W-9
For tax purposes, MetLife must have a valid and current IRS Form W-9 on file for each broker receiving base compensation. For more information and to obtain a W-9 Form, please visit the IRS website at www.irs.gov.
Customer Acknowledgement of Compensation Notice
Working with MetLife, you can be assured of MetLife’s commitment to disclosure of compensation to customers and potential customers. Certain customer and prospect communications will include a compensation notice similar to the notice below explaining to customers and prospects how MetLife compensates brokers.
  
| 
