What is the term for giving someone tickets as a thank you for purchasing a policy?

Study for the Florida 2-15 Insurance License Test. Use flashcards and multiple-choice questions with helpful hints and explanations. Get ready for your exam!

The term that accurately describes giving someone tickets as a thank you for purchasing a policy is "rebating." Rebating involves returning a portion of the premium paid by the insured or giving a financial incentive or benefit as a courtesy or reward for their business. In the insurance context, this practice is regulated, and in many states, including Florida, rebating can be illegal because it can create unfair competition and mislead consumers about the true cost of insurance.

While "incentivizing," "commission," and "gifting" may seem similar, they do not accurately reflect this specific practice within the insurance industry. Incentivizing generally refers to offering inducements to encourage certain behaviors or purchases, but it does not specifically apply to the context of returning money or benefits as a part of a policy transaction. Commission typically refers to the compensation received by an insurance agent for selling a policy and does not involve giving something back to the buyer. Gifting is more general and can apply to a broader range of situations, but it does not specifically imply the transaction-related context inherent in rebating.

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