New Agent First Commission Check Question

[Agent Angie]

Hi seasoned agents. I need your advice on commission payments please. I got paid my first commission check as a new agent yesterday. It was a direct deposit a little over 1,800 for two contracts. I have an up-line (is that what I call him?) but my direct deposit in my account looks like it came from the insurance company . I turned in four contracts the two I was paid on were on auto pay and they were underwritten. The two I didn't see a commission for are guaranteed and the customers gave me cashiers checks.They are on monthly bill. My up-line isn't available over the week end . Is it common to get paid on the underwritten first and later on the guaranteed issued contracts? When I spoke to Forethought last week they said they had approved all four.Hopefully I can meet with my up-line tomorrow.
Before I call him tomorrow, what questions should I be asking. I am confused. Oh also if you send me a private message I can't reply it says, until I have 20 posts on the forum. Thanks for any advice.

 

[WinoBlues]

Hi seasoned agents. I need your advice on commission payments please. I got paid my first commission check as a new agent yesterday. It was a direct deposit a little over 1,800 for two contracts. I have an up-line (is that what I call him?) but my direct deposit in my account looks like it came from the insurance company . I turned in four contracts the two I was paid on were on auto pay and they were underwritten. The two I didn't see a commission for are guaranteed and the customers gave me cashiers checks.They are on monthly bill. My up-line isn't available over the week end . Is it common to get paid on the underwritten first and later on the guaranteed issued contracts? When I spoke to Forethought last week they said they had approved all four.Hopefully I can meet with my up-line tomorrow.
Before I call him tomorrow, what questions should I be asking. I am confused. Oh also if you send me a private message I can't reply it says, until I have 20 posts on the forum. Thanks for any advice.

Not knowing what your contract says I will guess. The underwritten PAC policies were annualized at maybe 75% and are paid at issue. The direct bill plans are paid as earned and probably only pay out once or twice a month, Say the 1st and 15th.

 

[Newby]

If you sold GI with ForeThought it must be on Preneed or Select. They generally advance the whole commission on those products but hold out 20% for your reserve account.

If it's ForeThought Freedom you might be calling the 3rd tier product a GI but it's not really. It advances also but if the people want monthly BILL that is not allowed so that would explain why you weren't paid.

 

[Agent Angie]

Thank you Wino Blues. That makes sense. I'll ask if that is the case tomorrow.
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Hi Newby,
You are correct those four were Preneed.

 

[Josh]

Angie, I could not be more thrilled about you calling them your upline. That's exactly what they are. Everyone and their cousin on here calls their upline an IMO and that simply is not the case. I think some recruiters relent and call themselves IMOs because everyone else is (sort of like I call my lists leads because Sales Genie calls them leads), but there are very few true IMOs and I don't know any life IMOs that spend any time on this forum. I'm not saying you can't get some high level contracts from folks on here, but a true IMO is a fantastically large organization.

If you're getting direct deposit on your account from the carriers that's perfect.

Congrats on writing those cases!

 

[Mattschmidt]

Be careful asking questions on this forum, as people like Josh will jump on you, for not asking your IMO the question first...Luckily, you had a couple of professionals answer your questions first! Keep up the good work

 

[TDFnCali]

Hi seasoned agents. I need your advice on commission payments please. I got paid my first commission check as a new agent yesterday. It was a direct deposit a little over 1,800 for two contracts. I have an up-line (is that what I call him?) but my direct deposit in my account looks like it came from the insurance company . I turned in four contracts the two I was paid on were on auto pay and they were underwritten. The two I didn't see a commission for are guaranteed and the customers gave me cashiers checks.They are on monthly bill. My up-line isn't available over the week end . Is it common to get paid on the underwritten first and later on the guaranteed issued contracts? When I spoke to Forethought last week they said they had approved all four.Hopefully I can meet with my up-line tomorrow.
Before I call him tomorrow, what questions should I be asking. I am confused. Oh also if you send me a private message I can't reply it says, until I have 20 posts on the forum. Thanks for any advice.

I still amazed at her $900 per contract avg, WOW....that's incredible!! Keep up that pace & u wont need but 2-3 week!!
CONGRATS!!

 

[Agent Angie]

I still amazed at her $900 per contract avg, WOW....that's incredible!! Keep up that pace & u wont need but 2-3 week!!
CONGRATS!!

Thank You TDFn Cali. Things are so expensive down this way so I tell them if they can afford it, why not make it easier for their families. Hence the larger contracts.
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Angie, I could not be more thrilled about you calling them your upline. That's exactly what they are. Everyone and their cousin on here calls their upline an IMO and that simply is not the case. I think some recruiters relent and call themselves IMOs because everyone else is (sort of like I call my lists leads because Sales Genie calls them leads), but there are very few true IMOs and I don't know any life IMOs that spend any time on this forum. I'm not saying you can't get some high level contracts from folks on here, but a true IMO is a fantastically large organization.

If you're getting direct deposit on your account from the carriers that's perfect.

Congrats on writing those cases!

Oh I didn't want to offend anyone. Didn't know up-line was a negative title on here. He is a very nice helpful mentor/coach. I should have said that too.

 

[Josh]

Oh I didn't want to offend anyone. Didn't know up-line was a negative title on here. He is a very nice helpful mentor/coach. I should have said that too.

No, quite the opposite. Upline is the correct term and it's not negative, it's the truth!

 

[WinoBlues]

Thank You TDFn Cali. Things are so expensive down this way so I tell them if they can afford it, why not make it easier for their families. Hence the larger contracts.
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Oh I didn't want to offend anyone. Didn't know up-line was a negative title on here. He is a very nice helpful mentor/coach. I should have said that too.

Where are you located? Also, great start on those cases.