investorinagents
New Member
- 3
A different agent wrote a convertible 10 year term to my would be client. Will I get commission if I convert it to whole life for him or will his old agent get it? thanks in advance.
convertible term policy
- Thread starter investorinagents
- Start date
- 1,405
You need to email the company and get a response in writing.
- 16,902
You need to change the agent of record to you first. Then convert.
- 25,002
Maybe, sorta
Depends on the company also the product, series and date written.
AOR - you may or may not be allowed to do it. May also depend on if the agent is still contracted with the company or licensed with the state.
Some conversions are super easy. Some more complicated. Some conversion products do not pay commissions. Others may only pay on the amount of premium above the original.
I assume you are already contracted with the company.
If the prospect has the policy or illustration look at the conversion language. Does it say convertible to any permanent policy or to any policy allowed for conversion.
Get a signed and dated AOR first. Then call the conversion department and also the commission department.
Depends on the company also the product, series and date written.
AOR - you may or may not be allowed to do it. May also depend on if the agent is still contracted with the company or licensed with the state.
Some conversions are super easy. Some more complicated. Some conversion products do not pay commissions. Others may only pay on the amount of premium above the original.
I assume you are already contracted with the company.
If the prospect has the policy or illustration look at the conversion language. Does it say convertible to any permanent policy or to any policy allowed for conversion.
Get a signed and dated AOR first. Then call the conversion department and also the commission department.
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