If you sold a client a life insurance or annuity contract two years ago, are you legally allowed to call the client back and offer services or ask for a referral? Surprisingly, the answer may now be "no."

Recently, the Federal Communications Commission (FCC) clarified how financial and insurance contracts are subject to the Established Business Relationship (ERB) exemption of the Telephone Consumer Protection Act (TCPA). This exemption provides an 18-month window after the sale of goods and services during which the vendor may initiate calls to the same customer without violating National Do Not Call Registry rules. For example, if you sold a client a mutual fund, you could make unsolicited calls to that same client for 18 months after the sale.

Some agents who sell life insurance or annuity contracts have assumed that the 18-month window continues as long as the contract stays in force, but the FCC has held otherwise. The window only stays open for the duration of the contract (plus 18 months) for companies and agents that have an ongoing contractual relationship with the client. Of course, the issuing insurance company has such a relationship as long as the contract stays in force, but do you? The FCC says that making a sale does not give you such a relationship. If you just make the sale and have no further contractual obligation, you may only call a client who is on the Do Not Call Registry for 18 months from the date of sale.