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I received an email recently but I trashed it however another agent just called me and said that from what he gathered, in New York you will soon have to disclose your commissions on product to the client. Although he doesn't live in New York, you just wonder if that is going to spread or if this is just a New York thing (maybe California too).
That would kind of suck to be sitting with a client and disclose you just made 46K in commission by taking 1.2 million dollars and putting some into an immediate annuity to fund a new life insurance policy with 72k per year premiums and the rest in a long term annuity. Yikes!
The client easily forgets about the last 3 meetings you had with them where you didn't do any business plus the service work you will be doing for the next 15 years.
That would kind of suck to be sitting with a client and disclose you just made 46K in commission by taking 1.2 million dollars and putting some into an immediate annuity to fund a new life insurance policy with 72k per year premiums and the rest in a long term annuity. Yikes!
The client easily forgets about the last 3 meetings you had with them where you didn't do any business plus the service work you will be doing for the next 15 years.