Sons of Norway cutting off direct contracts

[Todd King]

Back to the original post...yes, they are moving agents to IMOs. Who knows which IMOs they are picking, but I am having agents moving their contracts to us so they know who they are dealing with.

 

[WinoBlues]

@Todd any word on the GI in California?

 

[Todd King]

@Todd any word on the GI in California?

None yet. They tell me it's about form approval. Not sure why it is taking this long though.

 

[WinoBlues]

None yet. They tell me it's about form approval. Not sure why it is taking this long though.

California

 

[Northeast Agent]

Todd King said:

Yes, in New Mexico, CT, Mass and maybe PA.

PA doesn't require a fraternal license to sell.

 

[inreverse]

Thanks for your help Todd!

 

[Baseball7]

They are moving to allow multiple comp levels.

having a 0-85 gi product is a valuable tool but w/o layers til now it was a struggle.

 

[WinoBlues]

They are moving to allow multiple comp levels.

having a 0-85 gi product is a valuable tool but w/o layers til now it was a struggle.

Layers?

For recruiting?

 

[Baseball7]

Yes like

imo
Upline
Upline
Agent
Agent
Agent
Etc

 

[Northeast Agent]

IMPORTANT: Changes To GIWL Comp Calculation

Valued Agents,

In response to a significant number of requests from our agency partners and our thoughtful business analysis, compensation for our Guaranteed Issue Whole Life product will now be calculated and paid only on an “as earned” basis. This product change will go into effect on July 16, 2022.

What Does This Mean to Me?

• There is absolutely no change to the total amount of compensation paid out to you and your agents. This only removes the option for advanced comp for this product.
• This change only affects the Guaranteed Issue Whole Life product and will not affect compensation/advancement for any other Sons of Norway product(s)
• • If your agents are already compensated “as earned”, nothing will change.
  • This is designed to help protect you from large charge-backs and the associated debt with a high turnover Guaranteed Issue product.
  • Policies issued on 7/16/22 and beyond will be under the new compensation method. The payment cycle ending 7/31/22, distributed on 8/5/22, will be the first payment to reflect these changes.
  • This does not impact any policies issued on or before 7/15/22.
  We greatly appreciate your continued support and partnership as we look to both ease the concerns of our partners and make the best business decisions to help us in our journey to be the premier insurance carrier you deserve.
  
  Should you have questions about your specific compensation rates, please see your Agency/Up-line.
  
  If you have further questions, please call the Sales Team at 833-707-0012 opt. 2.
  
  Warm Regards,
  
  Your Sons of Norway Insurance Services Team