Large Commission Check

[tlmarketing]

My wife and I will be getting a second to die (survivorship) life insurance policy in the neighborhood of $3 mil. I'm told that commission is usually based off of one years premiums, which will be approximately $40,000. That is a very large commission check for someone I've never met before and is probably going to do under 20 hours of work.

I understand the life insurance providers pay the commission and that I don't pay the brokers personally, however, I could raise my coverage if I put some of that commission towards the starting balance. I also understand all of you work very hard throughout the year but this seems absurd...to make $40,000 for 20 hours of work!

Does anyone have any suggestions?

thanks

I'm guessing that the real issue here is your lack of confidence in this particular agent...after all you are essentially paying him/her $40k plus renewals each year....and they haven't delivered $40k of value to you....sound about right?

If you had the right agent, the benefit of their estate planning expertise would have given you the confidence in this agent to go ahead and write that check without even thinking about how many hours are involved in the process. The $40k would be nothing in the scheme of things compared to the value they have given you and the savings your estate...and ultimately your beneficiaries will enjoy.

My advice would be to start over with an expert in estate planning who will deliver the value you are seek.

 

[BNTRS]

I'm guessing that the real issue here is your lack of confidence in this particular agent...after all you are essentially paying him/her $40k plus renewals each year....and they haven't delivered $40k of value to you....sound about right?

You mean not everyone sees the value in what we do? I bet all of the hyper critical posts helped push this person in the direction of liking us all so much more.

And to those who have used the example concerning all the times the agents didn't get paid, can we not then interpret that as someone overpays to subsidize those who under pay?

I learned some time ago that people hate to hear they are subsidizing others.

 

[GreenSky]

I'm going to guess that we're all *** from responding to this troll's post.

I mean, YOU'RE all idiots. I don't give a rat's ass about what he is bitching about.

Rick

 

[SeniorInsuranceGuy]

My wife and I will be getting a second to die (survivorship) life insurance policy in the neighborhood of $3 mil. I'm told that commission is usually based off of one years premiums, which will be approximately $40,000. That is a very large commission check for someone I've never met before and is probably going to do under 20 hours of work.

I understand the life insurance providers pay the commission and that I don't pay the brokers personally, however, I could raise my coverage if I put some of that commission towards the starting balance. I also understand all of you work very hard throughout the year but this seems absurd...to make $40,000 for 20 hours of work!

Does anyone have any suggestions?

thanks

I have a suggestion: Get your life insurance license and write it on yourself.

 

[sman]

I have a suggestion: Get your life insurance license and write it on yourself.

Considering he made that post nearly 14 months ago, it's probably already settled.

 

[jemelton]

I have a suggestion: don't bump threads 14 months old