No Lapse UL Street Level Commissions

[sman]

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.

I can share with you what the folks over at Independent Insurance Marketing Alliance pay. I don't know how that relates to "street" though. I would believe it is at or above street since they give out decent contracts.

Protective - 90%
Prudential - 85%
ING Reliastar - 95%
United of Omaha - 100%
American General - 95%
Lincoln National - 95%
Met Life - 90%
Transamerica - 90%


I'm also appointed with Midland and I believe my contract is at 90% on the UL product.

Keep in mind, in light of the changes in the GUL landscape due to new regulations, the above commissions may have changed. I really couldn't say with any certainty. If you want to know for sure, contact Douglas Heath at IIMA. His number is 800-955-9211 ext 209. He'll be happy to let you know what street is and what they pay.

 

[WinoBlues]

I can share with you what the folks over at Independent Insurance Marketing Alliance pay. I don't know how that relates to "street" though. I would believe it is at or above street since they give out decent contracts.

Protective - 90%
Prudential - 85%
ING Reliastar - 95%
United of Omaha - 100%
American General - 95%
Lincoln National - 95%
Met Life - 90%
Transamerica - 90%


I'm also appointed with Midland and I believe my contract is at 90% on the UL product.

Keep in mind, in light of the changes in the GUL landscape due to new regulations, the above commissions may have changed. I really couldn't say with any certainty. If you want to know for sure, contact Douglas Heath at IIMA. His number is 800-955-9211 ext 209. He'll be happy to let you know what street is and what they pay.

Second that on Doug and Term Providers. Top Term contacts with the same companies also. I believe their Protective number may have decreased a bit. Oh add Genworth to the list also.

I picked up Midland recently and really like what I see in their GUL. They also go down to $25,000.

Lee

 

[pcbinsurance]

Met Life at 90% seems high. I haven't been appointed with them for a year but don't recall commissions that high.

 

[WinoBlues]

Met Life at 90% seems high. I haven't been appointed with them for a year but don't recall commissions that high.

Depending on your level, it may actually be low for the GUL.

 

[pcbinsurance]

I realize 90% is low for most carriers, but every time I see commissions for Met Life lately, it always seems to be around 80%.
They are (or have been) consistently much lower than the Banners and AmGens of the world.

Edit: just checked and the ULs are about 20% higher than term, which I focus on.

 

[WinoBlues]

I realize 90% is low for most carriers, but every time I see commissions for Met Life lately, it always seems to be around 80%.
They are (or have been) consistently much lower than the Banners and AmGens of the world.

Edit: just checked and the ULs are about 20% higher than term, which I focus on.

Yeah, their term comp rates are stupid low. With no reason to sell it.

 

[SteveJH2]

I can share with you what the folks over at Independent Insurance Marketing Alliance pay. I don't know how that relates to "street" though. I would believe it is at or above street since they give out decent contracts.

Protective - 90%
Prudential - 85%
ING Reliastar - 95%
United of Omaha - 100%
American General - 95%
Lincoln National - 95%
Met Life - 90%
Transamerica - 90%


I'm also appointed with Midland and I believe my contract is at 90% on the UL product.

Keep in mind, in light of the changes in the GUL landscape due to new regulations, the above commissions may have changed. I really couldn't say with any certainty. If you want to know for sure, contact Douglas Heath at IIMA. His number is 800-955-9211 ext 209. He'll be happy to let you know what street is and what they pay.

What level contract is that with AG? Their "S" contract pays 85% on their GUL. To my knowledge that is their highest level short of IMO.

 

[bill3173]

Rarely get more than 80% and the irony is there is more work involved with GUL clients than term or whole life.

 

[sman]

What level contract is that with AG? Their "S" contract pays 85% on their GUL. To my knowledge that is their highest level short of IMO.

It's a level "S". The difference is the folks over at IIMA give you a 10% bonus on the AG products.

 

[CaptiveBroke(r)]

Anyone familiar with William Penn Life Choice UL (to age 121) and the street level in NY and other states?