Insurance Agent Forum

[Dave020]

Originally Posted by Mr. Friendly

NML does receive renewals over several years.

Yes. On term it is low, like 5-10% or something like that for I believe about 10 years (decreasing). I recall NML Term less than the 50% CFP83 mentioned above, non-TAP. I remember ART (T70) being low, like 35% with renewals 2-11. Levels might have been slightly higher, around 40% with renewals 2-11.

Originally Posted by Mr. Friendly

He said the commission on WL there was also ranges from the 82% to 70% range with renewals.

That seems high to me unless that agent is on TAP. TAP is around 82% FYC on WL but you lose a portion of your later renewals in the process. Non-TAP I recall around 50-55% on WL.

Originally Posted by Mr. Friendly

When you see an agent from NML, ask them how many "LIVES" they sold last year and how many ribbons they got. Thats all they care about.

LOL. You nailed that one. They live for "lives" and good lord all of those ribbons at the annual meeting.

[SalemInsuranceGuy]

Originally Posted by nka245

www.ncbusinesscourt.net/TCDDotNetPublic/default.aspx?CID=3&caseNumber=08CVS003764


I think this sums up a lot of people's bad experiences with agencies... look at Mr. Montebon's affadavit... does it get any worse than that?
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And to be completely unbiased, here is a cute video showing you the new face of the defendants... yay... what's the difference between the plaintiff and the defendant. I'm still waiting for someone to tell me.

http://www.youtube.com/watch?v=VfKRm3FWM7E&feature=related

Wow, I get to travel and be away from my family all the time and get 55%. Throw in a travel multi-level marketing company on top of the deal and I'm in. Obviously the company's marketing coverage area isn't matching their agent coverage area.

I'm too lazy to even drive to my clients in the same city. I either sell them over the phone or they can drive to my office. I'm done with traveling for companies who can't manage their marketing efforts correctly.

[Lute]

[quote=Dave020;156490]Yes. On term it is low, like 5-10% or something like that for I believe about 10 years (decreasing). I recall NML Term less than the 50% CFP83 mentioned above, non-TAP. I remember ART (T70) being low, like 35% with renewals 2-11. Levels might have been slightly higher, around 40% with renewals 2-11.




That seems high to me unless that agent is on TAP. TAP is around 82% FYC on WL but you lose a portion of your later renewals in the process. Non-TAP I recall around 50-55% on WL.


Uh, pardon me but what is TAP?
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Term less than the 50% CFP83 mentioned above, non-TAP. I remember ART (T70) being low, like 35% with renewals 2-11. Levels might have been slightly higher, around 40% with renewals 2-11.

Also meant to ask what is ART (T70)?

[Dave020]

TAP = Training Allowance Program. Basically for new agents it enhances the first couple of years commission so they make more off of each sale. FYC on WL might be 55%, but a TAP contracted agent would get say 82% FYC on the same sale. That is the upside for a new agent.

Downside is that this enhancement is not a freebie. It is derived from the future renewals on the policy which are reduced below the standard to pay back the TAP.

ART = Annual Renewable Term. A term product that follows the true mortality curve of the insured and increases every year. When I was with NML, T70 was the ART term product.