Typical Commission Schedule
- Thread starter LTS
- Start date
- 11,997
Depends on leads and training. Most of this board is of the opinion that training is usually worthless along with the leads, so it's all about the contract levels (high) and guaranteed upfront release. I made $7k my first month on a "crappy" contract with "bad" leads and I think that was a pretty good deal. In all fairness I'm a list broker now so if it was that great of a deal I'd still be doing it, but that's neither here nor there.
Most of the folks here are looking at 100%+ contract levels and some type of a fixed lead program along with actually getting some pretty solid support from their uplines in terms of which carriers for different health conditions, sales training, etc.
Are you looking to get agents set up under you or are you wondering if you're getting a good deal?
Most of the folks here are looking at 100%+ contract levels and some type of a fixed lead program along with actually getting some pretty solid support from their uplines in terms of which carriers for different health conditions, sales training, etc.
Are you looking to get agents set up under you or are you wondering if you're getting a good deal?
- 26,802
Life forum. I would guess the agents here will put more importance in training and education over leads.
......................
- 11,997
There are similar models for mortgage protection as well; both of which are life insurance.
How would you define "life insurance" vs FE and/or MP? The big mutuals?
- 26,802
On these forums.
While it is all Life Insurance the FE Gurus on these forums dictate that FE is about the market. As such it is more about the leads and knowing which company takes what ailments and 30 minute one call and done appointments. FE plans are basically the same so not a lot of plan difference. I would guess the Traditional life guys have a different model both in prospecting and appointments. Larry Tew , Brandon, Scott, Dan and several others may disagree. Just my opinion.
- 11,588
I'm analytical enough to answer that question.
"Life insurance" vs. FE/MP... is that "Life Insurance" is part of the total comprehensive planning process emphasizing the advantages of permanent life insurance... while (in my opinion) FE & MP is a "You want it? Can you afford it?" kind of a process/presentation.
Comprehensive approach vs Transactional.
The "big mutuals" promote a comprehensive process for selling permanent life insurance, and the term recommendation is if they just can't afford it now, but you want to preserve their insurability for the day when they can (should) afford the permanent plan later.
However, in thinking about the end policyholder, I'm not sure I would recommend buying a policy from the "big mutuals" - particularly Northwestern Mutual or New York Life - the companies that don't (seem) to allow brokers. I know Metlife, MassMutual, and Guardian allow brokers to service their policies.
The reason is because of agent turnover. With agent turnover at these firms, if your agent leaves, the consumer may not have much of a choice on who will be their agent of record for their policy. It often ends up being the manager or general agent... and they RARELY call and service these contracts.
I'm much more in favor of the client being able to shop around for their next agent and let them manage any policy that they have.
"Life insurance" vs. FE/MP... is that "Life Insurance" is part of the total comprehensive planning process emphasizing the advantages of permanent life insurance... while (in my opinion) FE & MP is a "You want it? Can you afford it?" kind of a process/presentation.
Comprehensive approach vs Transactional.
The "big mutuals" promote a comprehensive process for selling permanent life insurance, and the term recommendation is if they just can't afford it now, but you want to preserve their insurability for the day when they can (should) afford the permanent plan later.
However, in thinking about the end policyholder, I'm not sure I would recommend buying a policy from the "big mutuals" - particularly Northwestern Mutual or New York Life - the companies that don't (seem) to allow brokers. I know Metlife, MassMutual, and Guardian allow brokers to service their policies.
The reason is because of agent turnover. With agent turnover at these firms, if your agent leaves, the consumer may not have much of a choice on who will be their agent of record for their policy. It often ends up being the manager or general agent... and they RARELY call and service these contracts.
I'm much more in favor of the client being able to shop around for their next agent and let them manage any policy that they have.
- 31,259
- 26,802
So, is that your way of saying that you're not a "real" FE agent?
Not a real FE agent
Not a Full time FE agent
Not an FE agent that makes his income selling FE full time
Not an FE evolved Life Insurance agent
Oh and a bitter old Life Insurance agent
Stir the pot much?
Oh, Go Pat!
- 31,259
- Thread starter
- #10
I'm actually establishing a down line within my Indy agency...new to Life. Current agreement here for other lines is producers get 40-70% of initial and 25-30% of renewal commission received by the agency, depending on how much premium they produced and retain on the book. After maxing out above $2M, longevity is rewarded by replacing renewal commission with 10% per year ownership in the economic value of the book produced (up to 50%). This essentially makes the producer a minority partner eventually.
Overly generous for Life?
Overly generous for Life?
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