Hello insurance experts,
I am actually new here and in the insurance industry and would like to ask about Mutual Trust Life insurance company.
I got an appointment offer with a commission plan that make me suspicious:
They offer mutual life policies ( permanent ) that build up cash value for retirement solutions and pay off mortgage.
Now here is an example of the agent commission and I need your advice:
If the policy monthly premium is $800.00 that means as they told me $500.00 will be the policy holder's balance and $300.00 policy fees
Now they said that agent's commission will be the policy fees 300x12= $3600x52% OR 80% OR 90% OR even 100% depends on the sales levels.
The question here is: Is the company formula for the commission fair since I will be non-captive agent and I have to prospect clients myself ?
Am I right when I say commission should be $800x12x the percentage which should be 80% to 100% equal $7680 to $9600
Thanks guys!
Your advise will be highly appreciated
I am actually new here and in the insurance industry and would like to ask about Mutual Trust Life insurance company.
I got an appointment offer with a commission plan that make me suspicious:
They offer mutual life policies ( permanent ) that build up cash value for retirement solutions and pay off mortgage.
Now here is an example of the agent commission and I need your advice:
If the policy monthly premium is $800.00 that means as they told me $500.00 will be the policy holder's balance and $300.00 policy fees
Now they said that agent's commission will be the policy fees 300x12= $3600x52% OR 80% OR 90% OR even 100% depends on the sales levels.
The question here is: Is the company formula for the commission fair since I will be non-captive agent and I have to prospect clients myself ?
Am I right when I say commission should be $800x12x the percentage which should be 80% to 100% equal $7680 to $9600
Thanks guys!
Your advise will be highly appreciated