Renewals % for FE
- Thread starter Cyborg7
- Start date
- 19,826
I'm 7-8% with most companies. Some lower. KSKJ pays 5%. Grange only pays like 2%. CICA is in that range.
- 4,154
Carriers are as low as 0% to as high as 18%
- Thread starter
- #4
18%?
- 4,154
Yup
18% Must be one of those smaller comp up front and more renewal type contract .Even Uhl which was mentioned was 16-18% the 2nd yr then dropped to 8-10% . The newer type contracts like Trans ,Aflac etc have lower renewals . Many carriers use the 7-8% for yrs 1-3 or 1-5 then drop it after yr 5 .The best contract for first yr and renewals is am am . Most agents with decent relationships with there imo can get 130% fyc and 8.5% renewals yr 2-10 . That means the 140-150% contract has 10% renewals . That's one reason call centers love am am . Especially on the free lead programs now . Give out 40% fyc and free leads and make 140-150%. But the sweet part is keeping those 10% renewals for 9 yrs .
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- 4,154
AmAm's 120/7 comes out making an agent less then this carriers 115/18.75. Even the 110/18.5 likely equals the 120/7. And that's not counting any producer bonus that AmAm doesn't offer.
What carrier has 115/18.75 or even 110/18.5 for an agent? What's the year 2-10 renewal grid ?
- 19,826
I had "renewals for life" with Settlers. And they even passed to your beneficiary. That was always a huge talking point for the settlers' pimps.
Then a couple years ago they sent me a check and a notice that this was my last check and renewals were now ended.
So, better check on who's "life" they mean when they say they will pay for life.
Then a couple years ago they sent me a check and a notice that this was my last check and renewals were now ended.
So, better check on who's "life" they mean when they say they will pay for life.
Yeah just like SNL screwed so many agents with under "60% persistency at any time ". lol when you go 6-7 yrs writing zero business your persistency falls from deaths,lapses ,replacements etc . SNL had one of the worst agent sites were you couldn't track your business . I know you don't like them but am am's agent site awesome . You can track your paid to dates on all your business in 1 min and they notify you quickly if a draft bounces or your policy replaced .
