Q: Good Morning, I have a question regarding donating to a charity when a policy is issued to a client.
In reference to 2012 South Carolina Code of Laws
Title 38 - Insurance
Chapter 57 - TRADE PRACTICES
Section 38-57-130 - Misrepresentations, special inducements, and rebates prohibited on all insurance contracts.
3) No person may pay, allow, or give or offer to pay, allow, or give, directly or indirectly, as inducement to the purchase or the renewal of an insurance contract, any rebate of premiums payable on the contract, any special favor or advantage in any benefits payable thereon, or any valuable consideration or inducement that is not specified in the contract.
A: Only a South Carolina attorney could advise, as you ask about a specific South Carolina statute. But your question remains open for two weeks. In terms of general commentary on your post, the gift to charity might be called into question as being an "indirect" payment or allowance. This is only general commentary. Again, a local attorney should advise. Good luck
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