In my experience a Captive agent is a statutory employee relationship with an independent contractor agreement. This means you file a W-2 as Statutory. Usually a captive agent will have employee benefits like an employee (Health insurance, 401k, dental, vision and so on) and will receive the employer match of social security and medicare taxes. BUT as Statutory you may file a Schedule C Business Owner Tax return at the same time so you get to kind of "ride the fence" between employee and independent contractor.
THIS is why a Captive company needs you to produce - they are paying loads o money out on its agents in the form of Health care benefits, training, subsidized technology costs and so on.
One major league insurance company I worked for was captive and had $36,000 minimum Annualized First Year Commission requirements. Benefits were good.
The Fraternal I work for has minimum annualized commission requirements at about $18000 per year and the benefits are even better.
THIS is why a Captive company needs you to produce - they are paying loads o money out on its agents in the form of Health care benefits, training, subsidized technology costs and so on.
One major league insurance company I worked for was captive and had $36,000 minimum Annualized First Year Commission requirements. Benefits were good.
The Fraternal I work for has minimum annualized commission requirements at about $18000 per year and the benefits are even better.
