Just wondering do we have any MDRT members here? No Zack you or any of fellow NAA Kool-Aid drinkers are members.
Seems like those of us that are independent can meet the requirement MUCH easier than a captive agent since it is gross commission based. We make a higher % commission but some of it goes back into our marketing and office expenses.
A captive agent (like NYL agents) make a much lower commission. So I am pretty impressed that they have the highest percentage of members.
NYL was definitely offering me their top commission package because I have qualified for the round table pretty much every year. I wonder if other companies would do the same? Might be worth joining in that case.
NY based carriers must limit the commission paid on life products. There are ways to "boost" the comp via office & marketing allowances but unless things have changed the commission is 55% for life products.
Chumps will have more insight due to his NY based carrier connection.
NYL is a fine company, but I never really liked their attitude.
The only prestige career shops that I felt were solid were Mass Mutual & Northwestern Mutual.
You're correct. Doing business in NY is a pain and that is what limits the commission.