FinalExpenseRookie
Expert
- 25
I have never sold voluntary worksite benefits, could somebody please help me with this breakdown.
I am being give 50% on the first year for a cancer plan with 5% renewals.
So if I enrolled 25 employees that were each paying $25 a month, that would equal $625.00 of total paid premium for the month. Times that by 12 for the year,equals $7500 total for the year. First year commish would be 50% of that, so .50 x $7500=$3750
So my first year commission for this would be $3750, correct?
But how do you work out the 5% renewals for the following years? Would it be 5% of the original amount of $7500 or would it be 5% of $3750? So would the renewal for this example be $7500 x .05= 375, would I get $375 every month? or would it be 375 divided by 12, for the year, which would be $31.75 every month. Please help, this is confusing.
I am being give 50% on the first year for a cancer plan with 5% renewals.
So if I enrolled 25 employees that were each paying $25 a month, that would equal $625.00 of total paid premium for the month. Times that by 12 for the year,equals $7500 total for the year. First year commish would be 50% of that, so .50 x $7500=$3750
So my first year commission for this would be $3750, correct?
But how do you work out the 5% renewals for the following years? Would it be 5% of the original amount of $7500 or would it be 5% of $3750? So would the renewal for this example be $7500 x .05= 375, would I get $375 every month? or would it be 375 divided by 12, for the year, which would be $31.75 every month. Please help, this is confusing.
