No Lapse UL Street Level Commissions

[Briarwood]

What are some of the street level commissions out there for no lapse universal life?

 

[SteveJH2]

It varies greatly by carrier. Typically street level will be 80% on the low end and 105% on the high end.

 

[Briarwood]

Thanks, that's pretty much what I've seen. I was hoping to get some carrier specifics. I would greatly appreciate it if anyone has any info on specific carrier street level commissions for No Lapse ULs they could share. Thanks again.

 

[TwiLight]

Sagicor No-Lapse UL (GUL) is 85% FYC Street
Transamerica TransACE 2013 (GUL) is 90% FYC Street

 

[SteveJH2]

American General pays 80% for their "A" contract.

AVIVA 90%.

North American 95% or higher.

 

[lifesettlementadvisor]

How much does the commission level play into your recommendation to a client? If the best has an 80% and the second best has an 100% FYC, do you still tell the client that you would recommend the 80% product?

This is a huge difference in comp, but I'm sure that does not matter to most clients.

 

[sman]

How much does the commission level play into your recommendation to a client? If the best has an 80% and the second best has an 100% FYC, do you still tell the client that you would recommend the 80% product?

This is a huge difference in comp, but I'm sure that does not matter to most clients.

Personally, I'm a firm believer that if you do what is best for the client you will be rewarded in the long run. If that means taking less comp, then that's what I do.

Now, if all things were equal (i.e. - face amount, premium, etc), then I'd go with the higher comp. But all things are rarely equal.

 

[lifesettlementadvisor]

That seems to be the logical methodology to take - would be curious to see how many people agree with you.

 

[sman]

That seems to be the logical methodology to take - would be curious to see how many people agree with you.

The simple fact that many people have insurance that could be cheaper elsewhere leads me to believe that there are many who don't agree with me.

Take Primerica for example. I realize they sell term insurance and this is a GUL thread, but they are much higher priced than many other carriers and yet many agents sell for Primerica. Of course, many who sell for them just don't know any better and they certainly aren't doing it because the commissions are higher.

Unfortunately there are plenty of agents out there who look out for their best interest instead of the client. That's not to say that there aren't plenty of agents who do what is in the best interest of the client either.

 

[Briarwood]

Thank you for the replies. I also agree you have to do what is best for the client, first and foremost.

I was interested to see what the ranges are out there and to also compare them with the "ins and outs" of the respective product.

Lifesettlementadvisor and Sman, would you have any carrier specifics you could share?

Thanks in advance.