Devin01
Guru
- 430
Question to the group typically a street agent for an iul is 85 to 90% Target Premium what are the overrides levels for an fmo or Imo just wondering what the spread is between Street and the top
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depends on the carrier, some are 140-160%
Thought I'd post a link...A quick google search of Roage IMO jobs showed a comm between 80-140%
depends on the carrier, some are 140-160%
There ain't no way. That is FE stuff, not IUL, etc.
Thought I'd post a link...
Insurance agent with the rogue imo with the rogue imo Jobs | Glassdoor
Exactly.
Total comp might be that much, but not the agent comp. If total comp is 140% (which is really up there for non FE products), the agent gets 100% and the IMO gets 40%.
Your saying an IMO gets 40% for doing nothing? I’m not a fan of IMO,s but I’ve had to use one to sell Lincoln products, but 40%? No wonder they are always calling to see how I’m doing, I’m their damn sugar daddy and I’m definitely on the wrong side of the business. I always assumed they were getting 5 or 10 percent.
Most distributor contracts are only 5-10 points over the highest street levels (at least with big name carriers like Lincoln). IMOs make most of their money on bonus, which agents aren't eligible for anyway (and will vary widely depending on carrier and volume).