Typical Term Commissions

[NC Coach]

I am going through the packages from a few potential FMOs for life insurance. I'm just curious if anyone can give me some feedback on what the typical term policy should pay in commissions. It's been years since I was licensed but I seem to remember getting around 95-100% FYC on term (20 yrs or longer term). Maybe I am wrong about that.

Here's what I am seeing so far:
Prudential 75%
North American 80%
ING 85%
Banner 85%

Are these numbers OK for someone who needs no lead support and probably only a little product info as I get back into the swing of selling, or are these numbers low? Also, how are the above carriers for term and UL products in comparison to others?

Thanks for the feedback!

 

[STIBROKER]

seems a little low....and could be worse....you could be going into the NAA.....

 

[NC Coach]

seems a little low....and could be worse....you could be going into the NAA.....

Yeah, or Primerica. Is a "little low" like 5% or more like 15 or 20% low?

Does anyone know if Brokers Alliance is better than that? I have filled out their info form and gotten no contact in almost a full week now. Others jumped right on it.

So how do those carriers I listed compare to other top companies?

 

[STIBROKER]

BA is good....just call them.......

Yeah, or Primerica. Is a "little low" like 5% or more like 15 or 20% low?

Does anyone know if Brokers Alliance is better than that? I have filled out their info form and gotten no contact in almost a full week now. Others jumped right on it.

So how do those carriers I listed compare to other top companies?

 

[sacw]

We use Davis Life as our IMO. They have been responsive and passed on the great majority of the commission to our independent agency for the companies you listed.

 

[sman]

I have transitioned most of my contracts to IIMANET Independent Insurance Marketing Alliance. Their commissions for the carriers you mentioned are as follows:

Prudential 85%
ING 105%
Banner 100%

No North American, but they aren't that competitive anyway.

I am going through the packages from a few potential FMOs for life insurance. I'm just curious if anyone can give me some feedback on what the typical term policy should pay in commissions. It's been years since I was licensed but I seem to remember getting around 95-100% FYC on term (20 yrs or longer term). Maybe I am wrong about that.

Here's what I am seeing so far:
Prudential 75%
North American 80%
ING 85%
Banner 85%

Are these numbers OK for someone who needs no lead support and probably only a little product info as I get back into the swing of selling, or are these numbers low? Also, how are the above carriers for term and UL products in comparison to others?

Thanks for the feedback!

 

[NC Coach]

Thanks to all for the feedback so far. I did contact Brokers Alliance and got some info.

I also appreciate the information on the other organizations and have filled out info request forms there as well. Hopefully I can make a decision soon and get that part out of the way. I just want to be sure I make the right choice because I don't want to hop around. I tend to stick to things once I've committed.
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sman, I got your private message. I tried to reply but apparently I don't have the post count to do so. I will follow your advice in the PM. I really appreciate the info!

 

[sman]

Glad to help.

 

[AndreaSti]

Glad to help.

Don't do a ton of life, would like to, so hopefully this isn't a dumb question, but are the production levels to get 100% w Banner? We have sold 3 this year, at 85%. Like a said not a lot so just wondering. Would much rather have gotten 100% of course!