Originally Posted by SPUR CITY
I listed the carriers above because those are some other ones that I already have in my bag. Granted, I'm obviously not a DI specialist. I'm a FE specialist.
I'd like to get paid on my own case, so who has a NICE FAT Guardian contract?
Unfortunately Guardian and other big mutuals like them do not have a huge amount of room on contracts.
Most IMOs do not offer Guardian because their cut is very minimal. Many actually put agents below street because they are not willing to sell anything for less than a 10% cut.
Street for Guardian DI is 50%. You can always ask... but they almost never give out higher contracts for "one offs". You need to bring them at least $30k - $40k in premiums to get a bump of any kind.
Like Ray said, DI is all about the renewals. Clients usually keep policies for at least 15-20 years. Renewals can be as high as 20% over the first 10-15 years (depending on the carrier).
Unfortunately the major white collar players in the DI world are not very flexible on comp. Nothing like what its like in the Life Insurance world. With Life we can almost always find a higher contract somewhere if we look hard enough.
You could always find an agent who is at a higher comp rate and have them 1099 you part of the comp if they are willing. But there are not a lot of agents out there with their top DI contract. If you just dont want to get contracted I will 1099 you a % of it but I do not have their top contract. They do eApps for DI. Id bet that Ray or someone else would be happy to 1099 you part of it too.
But Guardian has a good product lineup so it might be worth getting contracted yourself. I know of a few FE guys that use them for small FU WL policies. Especially on kids.
Just make sure you have someone to help with deciding on the various riders. Of course you could always just ask us here on the forum.
Originally Posted by Tahoe Ray
Seriously, I agree with what you're saying but 1) Guardian is awesome but can be tough...although in this case it is unlikely that they would be and 2) SS offset sucks unless you're a truck driver unloading your cargo (and even then it is still not preferable but likely all that you're going to get).
Out of the carriers that OP listed, Illinois Mutual would be his only option for pure base, although I wouldn't insure an agent with any of those products.
Of course I agree. The reason I put that out there is a case I had a few years back that I tried to run through Guardian. Door to door salesman who did MAD volume. I was told that he sees 3x the amount of people per day vs. an average d2d salesman. Because of that he was looking at being rated or even a possible decline.
Of course their occupation questions might be a bit different if you say someone is an agent vs. when you tell them they are a d2d salesman.