What is a good comp rate for FE?

[wehotex]

I just received a contract with 120% in the first year, but drops down to 3.5% in years 2-5 and less after that. This would be for the preferred risk product.
Is this normal, poor, good?
I generate my own customers.

 

[Newby]

I just received a contract with 120% in the first year, but drops down to 3.5% in years 2-5 and less after that. This would be for the preferred risk product.
Is this normal, poor, good?
I generate my own customers.

That is an standard FE commission rate for new agents. It's a little low on renewals but it depends on which company. Some carriers pay higher renewals.

 

[jdeasy]

I just received a contract with 120% in the first year, but drops down to 3.5% in years 2-5 and less after that. This would be for the preferred risk product.
Is this normal, poor, good?
I generate my own customers.

Good first year. Low on the renewals.

But some are that way. Back when we had Grange I believe it was 120% first year. 3% renewals.

Still miss them though.

Most at at least 5%. Many more than that. Around 9% renewals with some.

 

[wehotex]

This

That is an standard FE commission rate for new agents. It's a little low on renewals but it depends on which company. Some carriers pay higher renewals.

This one is TRANSAMERICA
Level 62
Is it good rate for a self-generated sale?

 

[jdeasy]

This


This one is TRANSAMERICA
Level 62
Is it good rate for a self-generated sale?

Probably. Trans just reduced renewals across the board a couple months ago. They reduced rates and are paying for that with reduced agent commissions.

 

[billyb]

Assurity paid very good renewals on their SIWL. Sure miss them.

 

[Newby]

This


This one is TRANSAMERICA
Level 62
Is it good rate for a self-generated sale?

It’s fine. No one is taking advantage of you. Trans renewals have been reduced for everyone.

 

[Todd King]

This


This one is TRANSAMERICA
Level 62
Is it good rate for a self-generated sale?

Level 62 is good, especially since you are supposed to have agents under you to get that level.