Term Commission Levels?

[JRoot]

75% could be a fair commission level (doubt it) - depends on what United Underwriters does for him.

Just know that comp levels aren't everything. I know agents that have 100%+ contracts, but don't write much business. I know others that have 90% contracts and lean on their IMO for some help and are in the top 5% of producers. They don't need the 100% contract because of the value their upline provides.

My advice is find an upline that provides the most value to the way YOU do business (or your friend in this case). I wrote an article on that here: Choosing a Life Insurance IMO – Comp Isn’t Everything

 

[bigjake]

75% could be a fair commission level (doubt it) - depends on what United Underwriters does for him.

Just know that comp levels aren't everything. I know agents that have 100%+ contracts, but don't write much business. I know others that have 90% contracts and lean on their IMO for some help and are in the top 5% of producers. They don't need the 100% contract because of the value their upline provides.

My advice is find an upline that provides the most value to the way YOU do business (or your friend in this case). I wrote an article on that here: Choosing a Life Insurance IMO – Comp Isn’t Everything

That is exactly it. Especially for a newcomer. For instance, I have a good contract with TA, in the 90 range, but I get advice and illustrations if I need it. Also, if the client is better served with another carrier, I can get it placed and I get paid. It is like having another agent in the office, but without the overhead. The IMO handles everything from E&O to getting the underwriting requirements met. I also contract FE carriers through them, (TA=MonLife) which is something some IMOs will not do. Some will offer a good carrier, ie ING for life, but not the FE product and vice verse.

Only when someone starts writing over 30k/year with any one carrier should he or she worry too much about the comp levels, unless they are really low.

 

[ccurryUW]

Quick question for you guys. I have a friend who is with United Underwriters selling term policies thru Transamerica and Banner Life Insurance. He has 30 years experience and is making 75% commission on term policies sold. Is this a fair commission level?

What commission levels do you get on term policies? Is it possible to make 100% commission on term or higher?

Im new to the business and trying to learn. Any advice is appreciated.

You should be making making 85-100% comm on top street level contracts with those carriers, assuming they aren't provided you with Free leads, or any free back office support.