Bennyd
New Member
Which big companies pay highest percentages in comm.
Who Pays the Highest Commissions
- Thread starter Bennyd
- Start date
What Products?
LIFE
- Term Life - Non Med
- Term Life - Fully Underwritten
- Term Life - Simplified Issue
- Universal Life - Non Med
- Universal Life - Fully Underwritten
- Guaranteed Universal Life - Non Med
- Guaranteed Universal Life - Fully Underwritten
- Index Universal Life - Non Med
- Index Universal Life - Fully Underwritten
- Whole Life - Par/Dividend Paying - Non Med
- Whole Life - Par/Dividend Paying - Fully Underwritten
- Whole Life - NonPar/No Dividends - Non Med
- Whole Life - NonPar/No Dividends - Fully Underwritten
- Whole Life - NonPar/No Dividends - Simple Issue / FE
This is just the basics for Life Insurance. Riders for Return of Premium on Term, Living Benefits, Guaranteed Insurance Rider, all need to be considered with all the life products and differ for each company.
As said to you in your previous threads. You still have much to learn Padwan before you attempt to sell any of these products if you need to be asking your question.
Skipper
- 11,277
Nobody pays out anything until you sell it.
Do you know how to sell what you want to sell?
Do you know how to sell what you want to sell?
ewhiteside
New Member
- 4
I love these questions, I thought the same 10 years ago when I just got in the business. Many IMO will pay you street level and promise you the world. Go to producer Web all your questions will be answered there. My advice, find a good mentor rather then worrying about high contract level.
Dumb question... What's the difference between non med term and simplified issue term? I thought anything under $300,000 just meant S.I.
- 1,900
This was something that initially confused me as well when I was new to life products.
NON-MED can still be fully underwritten, however does not require a paramed. Insured could receive a standard health rating or get table rated just like a F.U. Product
S.I. products have more lenient underwriting usually building in up to a table 4 health rating into their premium cost.
- 16,881
Non med requires very good health. It's for people that could get approved fully underwritten but don't want to take a paramed exam.
Simplified issue accepts more health conditions and has table ratings built in.
- 24,971
Non med - is no physical exam but fully underwritten. Normal health questions and qualifications.
Simplified Issue - has no exam either, however it usually has looser underwriting. The plan is going to have tables built in.
Example - $250,000 term on a 50 year old. Sagicor would be non-med and Americo would be SI Term. Big difference in underwriting and premium.
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A note - Sagicor has a Rated class as well. Non-med but in the 4-5 tables area. Looser medical and build. Example - type III DM could be issued rated.
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Also define "big".. If you are looking for highest commissions they will not normally be found with the giants of the industry.
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