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What is the average commission rate on a dental policies? Is it a good idea to take advances on dental policies?
Dental Insurance Commission?
- Thread starter 5starfinancialhealth
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Talk to Frank Stastny, he offers contracts of UCT or Todd King for Medico. I believe commissions to be at or above 50% with a 9 month advance available. The plans that the medicare advantage carriers typically are decent, but the add-ons typically don't pay at all, so why waste your time.
Depends on the type of policy.
A stand alone dental insurance, where you have a network and you pay co-pay or co-insurance, pays very little (10-18%).
The flat fee per service and indemnity dental plans don't have nearly the same coverage, but don't have to deal with network and commissions are much higher (55-65%).
A stand alone dental insurance, where you have a network and you pay co-pay or co-insurance, pays very little (10-18%).
The flat fee per service and indemnity dental plans don't have nearly the same coverage, but don't have to deal with network and commissions are much higher (55-65%).
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- #5
- 103
Very interesting, I have worked with the assurant indemnity dental plans through an agency before. They paid me 100% of the premium so I figured the indemnity's had to be paying them decent. Commission aside, Is it a good product to offer vs regular dental insurance for the customer?
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You really shouldn't be so concerned about the comm. The way it works is the higher the premium, the better the plan and that isn't always the case. Insurance co. plans are high and have a 1,000 or $1500 max a year. The prem for one is about $500 yr so how is it worth it? A discount plan with 2 free cleanings is probably the better as long as a member shops major work to be sure of getting the discount. Just look for dental plans and see how good they are. If they're good you'll get a fair comm. If the comm is high, the plan may not be very good.
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- #7
- 103
What you are saying makes sense. Quality over quantity. Thanks for the advice, I will keep this in mind when offering dental products
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Thanks Jimmy. First year commission with UCT's plan can be very close to the first year commission with a Med Supp. Plus, I believe they have the best plan currently available.
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- #9
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Very interesting in learning more
If you can email me I would love to look into this.
[email protected]
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