- Thread starter
- #11
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I believe in IN the renewals have to be half of the 1st year commish. So most companies are paying 25% first year and 12.5% renewals.
Commissions for LTC products?
- Thread starter senior-advisor-indiana
- Start date
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- long term care
I just wrote my first LTC case. We used Geneworth and I was paid 65% fy and 6% trail.
One of the the things I learned about LTC is if someone asks you for it they probably will be denied...
Husband was approved but wife wasn't - he took the policy and I made a 6K target life sale on him as well.
One of the the things I learned about LTC is if someone asks you for it they probably will be denied...
Husband was approved but wife wasn't - he took the policy and I made a 6K target life sale on him as well.
Allianz has a new product that allows you to choose the commission rate you would like.
The first option is 100% of the premium and that is it....no renewals.
The next 2 are 65% and with 8% renewals for 2-10 and 55% with 9% renewals for years 2-10. (that may not be exact, but close)
Do the math and you will learn that if you factor in the time value of money it is best to take 100% and not worry about renewals because for the little difference...it takes you 10 years to get it.
That's just me.
The first option is 100% of the premium and that is it....no renewals.
The next 2 are 65% and with 8% renewals for 2-10 and 55% with 9% renewals for years 2-10. (that may not be exact, but close)
Do the math and you will learn that if you factor in the time value of money it is best to take 100% and not worry about renewals because for the little difference...it takes you 10 years to get it.
That's just me.
- 7,790
rjm63, that's a great avatar. You are a handsome dude.
rjm63, that's a great avatar. You are a handsome dude.
Oh man, that is so funny!
Why thank you....but that is not me.
Do you guys not know who that is?
It is Bill Porter who inspired the TNT movie Door to Door.
Incredible story. The guy is an inspiration.
Check it out....you will be amazed and the next time you have a little headache or boo-boo....you will feel guilty about not selling when you think about what he went through to be the top salesman with the Watkins Company.
Do you guys not know who that is?
It is Bill Porter who inspired the TNT movie Door to Door.
Incredible story. The guy is an inspiration.
Check it out....you will be amazed and the next time you have a little headache or boo-boo....you will feel guilty about not selling when you think about what he went through to be the top salesman with the Watkins Company.
Agreed, Porter's the Man! Ever feel like not making the extra calls, or driving to meet a prospect, or answering a call when you know the person on the other end is a pain in the ass, because you're tired or don't feel well, or burnt out? Of course!
Like rjm63 says, check out "Door to Door," it's a must see. You'll never hear Bill complain, or make excuses.
Like rjm63 says, check out "Door to Door," it's a must see. You'll never hear Bill complain, or make excuses.
LTCiPro
Expert
- 22
50-75% first year, renewals are all over the place. All depends on carriers and how much they think you can do for them.
Best bet...choose carriers that 1) sell the most LTCi, 2) highest ratings and reputations, 3) longest tenure in LTCi sales. The first one pretty much is dependent on the later two and vise-versa.
Remember, if dogs won't eat it, it ain't dog food!
If you can't believe in it you can't sell it and no one will buy it...regardless of agent comp. Do your homework!!!
Blessings.
Best bet...choose carriers that 1) sell the most LTCi, 2) highest ratings and reputations, 3) longest tenure in LTCi sales. The first one pretty much is dependent on the later two and vise-versa.
Remember, if dogs won't eat it, it ain't dog food!
If you can't believe in it you can't sell it and no one will buy it...regardless of agent comp. Do your homework!!!
Blessings.
johnrhoades
New Member
- 2
John Hancock 80/14/7/2
Genworth 80/8
Met Life 80/9/4
I primarily write with the Big 3....Can't really recall what Prudential, Guardian, Allianz, Mutual of Omaha give me.
Genworth 80/8
Met Life 80/9/4
I primarily write with the Big 3....Can't really recall what Prudential, Guardian, Allianz, Mutual of Omaha give me.
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