An ongoing fee arrangement exists when an AFS licensee or its representative gives personal advice to a retail client and the client enters into an arrangement with the licensee or representative, the terms of which provide for the payment of a fee during a certain period of time. Following are the ongoing fee arrangements. (a) a payment plan meeting prescribed requirements. (b) an arrangement under which the only fee payable is an insurance premium. (c) an arrangement to the extent that the fee payable is a product fee.