Splitting Commissions

[Mr_Ed]

One problem with cutting a check is if the policy is canceled after a few months. Now you're in the hole and trying to collect from someone who may or may not be able to cut a check back.

This is as much a question as it's a statement because I'm in the same situation wondering how to handle it.

In the past 20 years of selling LTCi, I think that I've had one cancellation within the first year after someone paid the full annual premium.

So, the odds are pretty slim of this happening.

 

[trevleffingwell]

how hard is it to write one check the same day you get the first year commission.

Apparently, it takes an act of congress because I'm in this exact situation and it has not gotten better after a year. Another agent is writing my group health, and is always late with my money, and I have always had to ask him first where my commissions are. Then, he's either got the wrong checkbook with him, or checks went in the mail today, or early tomorrow, or whatever; it's always something with him. This has tarnished an otherwise positive working relationship so much so that I'm considering moving on altogether.

 

[kgmom219]

Apparently, it takes an act of congress because I'm in this exact situation and it has not gotten better after a year. Another agent is writing my group health, and is always late with my money, and I have always had to ask him first where my commissions are. Then, he's either got the wrong checkbook with him, or checks went in the mail today, or early tomorrow, or whatever; it's always something with him. This has tarnished an otherwise positive working relationship so much so that I'm considering moving on altogether.

Ding, ding, ding. Exactly.

Get your name on the app. The carrier sends you money. Everyone wins, you get paid immediately and the relationship is intact and productive.

I actually counted. I am paid at at least 12 times from 8 sources each month. And you want me (ADD sales girl) to remember when "Joe Smith" commissions hit I need to write a check. Then I have to send a 1099. Ugggghhh.