Ohio National Contracting

[Icando]

I'm going to meet with the regional director for Ohio National next week to become contracted with them. Does anyone in this forum have experience with them as to what I can expect for commissions? I understand them to be an excellent company, but I was wondering if the contracts would vary from region to region?
Thank you in advance.

 

[VolAgent]

If you are in a PPGA state, its the same for everyone. He'll look at your past production and offer you a starting point. Fortunately if you work up to the next level, the higher commission is paid out retroactively.

 

[njh_lfg]

I have a GA contract with OHNFS and the pay out is great depending on your past production. Find out what level the Regional will start you at and do not sign any paperwork on the spot. If you want to contract under me (I am licensed in LA) I might be able to get you better payout with possible annualization of premiums. Send me a PM if interested.

 

[VolAgent]

I'd be very leary of going under anyone at ONFS. Odds are you'll be offered decent payout with annualization out the door.

 

[njh_lfg]

They only annualize 70% for your first year, 90% second year, 100% third year out. That is only if you do one of the following (or combination) 71k of term premium, 58k of WL premium, 64-80k of DI premium, or just over 1mm of SPDA premium.

What is leary about going under someone to get a higher payout? Do you not have any contracts for this reason Vol?

 

[arnguy]

WTF is leary? I would be leery, but ONL is a great company!

 

[njh_lfg]

WTF is leary? I would be leery, but ONL is a great company!

I am a numbers guy......

 

[VolAgent]

You can get that annualization just by saying you'll send them business. Its right there in the agreement. Second, after level 5 the commission doesn't jump all that high. Third, I believe certain benefits are reserved strictly for the GA, not the sub-producer. I'm not saying don't do it, but I don't see many advantages to it.

And yes, I hold most of my contracts through a GA, because it does benefit me. Nothing wrong with it, but ONFS initially set up their PPGA system to discourage brokerage GAs. Their system is set up to encourage personally producing GAs or GAs who run a traditional style office.

 

[Icando]

You can get that annualization just by saying you'll send them business. Its right there in the agreement. Second, after level 5 the commission doesn't jump all that high. Third, I believe certain benefits are reserved strictly for the GA, not the sub-producer. I'm not saying don't do it, but I don't see many advantages to it.

And yes, I hold most of my contracts through a GA, because it does benefit me. Nothing wrong with it, but ONFS initially set up their PPGA system to discourage brokerage GAs. Their system is set up to encourage personally producing GAs or GAs who run a traditional style office.

The person I'm speaking with is employed by Ohio National directly, or at least I believe him to be. He is listed as a regional directory for Ohio National Financial Services, for whatever that means.
Also, I have no production. Just starting out.

 

[njh_lfg]

Vol, you clearly know everything so I am going to leave on this note and go get get drunk in the sun. Who would want to make sure they maximize their earnings? Some of the regional guys of OHNFS are dicks about raising comp levels without proof of past production from what I have heard.