Which of the following is not considered a rebate when offered to an insured in the sale of insurance?

Dividends from a mutual insurer are not considered a rebate when offered to an insured in the sale of insurance because they represent a portion of the insurer's surplus that is returned to policyholders based on the company's financial performance. This differs from cash bonuses, discounts, or gift cards, which are intended as incentives to encourage the purchase or retention of insurance policies and can be construed as rebates.

Rebates involve monetary compensation or benefits provided as an inducement to buy insurance, often seen as a violation of ethical or regulatory guidelines in many jurisdictions. In contrast, dividends are a legitimate benefit arising from the policyholder's ownership stake in a mutual insurance company, reflecting their participation in the company's earnings rather than an incentive to purchase a policy. This distinction is key in understanding how various forms of compensation are classified in the context of insurance regulations.