100% Term Life Insurance

[Norwayguy]

I am a new agent and looking to sell flat rate 30-year Term Life Insurance. My MGA has offered me 100% commission to start out with, which I'm happy with. My MGA mentioned that I would have potential to receive even higher % as I increase the volume of my policies sold, but he would not specify details.

I'm therefore turning to you guys for some general feedback on this...

What type of sliding scale of commission-%-to-policy-volume is "normal" (if there is such a standard)? Or at the very least, do you have any examples of what have you "heard" of or maybe even experienced for yourself with regards to commission being offered for 30-year term life?

Is it true some agents have even been offered 130% and if so, how rare is that - or what type of volume do you think an agent would have to be churning out to be able to get that kind of offer / have the kind of "clout" to request commissions that high for selling 30-year term?

Thanks in advance, guys

Just 30 year term? That does cut out a bunch of the market.

 

[infologicd]

Can you repeat the question please?

I'm being offered 100% commission on 30-year term life insurance.

Has anyone been offered (or heard of someone being offered) 110%, 120%, or 130% commission for 30-year term?

If so, what has been the corresponding requirement of volume before you've seen these higher %'s being offered? Thanks!

 

[Gooner]

I'm being offered 100% commission on 30-year term life insurance.

Has anyone been offered (or heard of someone being offered) 110%, 120%, or 130% commission for 30-year term?

If so, what has been the corresponding requirement of volume before you've seen these higher %'s being offered? Thanks!

No production required. 120% on term...non med to $200k.ish

 

[pcbinsurance]

Which carrier(s) Infologic? Usually commissions for term range from about 90-120% depending on the carrier.

 

[WinoBlues]

I'm being offered 100% commission on 30-year term life insurance.

Has anyone been offered (or heard of someone being offered) 110%, 120%, or 130% commission for 30-year term?

If so, what has been the corresponding requirement of volume before you've seen these higher %'s being offered? Thanks!

I have.

I require zero hand holding, no leads or help finding leads, no help with materials, No case management ( APSs, PHIs, Exam ordering & follow ups, underwriting tracking and calls to underwriting etc..)

----------

I am a new agent and looking to sell flat rate 30-year Term Life Insurance. My MGA has offered me 100% commission to start out with, which I'm happy with. My MGA mentioned that I would have potential to receive even higher % as I increase the volume of my policies sold, but he would not specify details.

I'm therefore turning to you guys for some general feedback on this...

What type of sliding scale of commission-%-to-policy-volume is "normal" (if there is such a standard)? Or at the very least, do you have any examples of what have you "heard" of or maybe even experienced for yourself with regards to commission being offered for 30-year term life?

Is it true some agents have even been offered 130% and if so, how rare is that - or what type of volume do you think an agent would have to be churning out to be able to get that kind of offer / have the kind of "clout" to request commissions that high for selling 30-year term?

Thanks in advance, guys

Question for you. What do you bring to the table?

----------

100% is a good start _if_ you have someone willing to train you. Unless you are a soon to be superstar, or have a good warm market, they are getting the bad end of the deal.

 

[DHK]

I am a new agent and looking to sell flat rate 30-year Term Life Insurance. My MGA has offered me 100% commission to start out with, which I'm happy with. My MGA mentioned that I would have potential to receive even higher % as I increase the volume of my policies sold, but he would not specify details.

So get started, get selling... and once you've sold $100k in annual commissionable premium... talk to him again.

I'm therefore turning to you guys for some general feedback on this...

What type of sliding scale of commission-%-to-policy-volume is "normal" (if there is such a standard)? Or at the very least, do you have any examples of what have you "heard" of or maybe even experienced for yourself with regards to commission being offered for 30-year term life?

Is it true some agents have even been offered 130% and if so, how rare is that - or what type of volume do you think an agent would have to be churning out to be able to get that kind of offer / have the kind of "clout" to request commissions that high for selling 30-year term?

Thanks in advance, guys

Once you've produced enough commissionable premium to qualify for MDRT (meaning that you're a serious producer), AND you know what you're doing, AND you don't require much hand-holding... THEN you can either try to renegotiate, or find higher paying contracts pending your proven production record.

I think it's kinda dumb for someone brand new to try to "get a raise" before even proving that they can do the job.

 

[Newby]

I am a new agent and looking to sell flat rate 30-year Term Life Insurance. My MGA has offered me 100% commission to start out with, which I'm happy with. My MGA mentioned that I would have potential to receive even higher % as I increase the volume of my policies sold, but he would not specify details. I'm therefore turning to you guys for some general feedback on this... What type of sliding scale of commission-%-to-policy-volume is "normal" (if there is such a standard)? Or at the very least, do you have any examples of what have you "heard" of or maybe even experienced for yourself with regards to commission being offered for 30-year term life? Is it true some agents have even been offered 130% and if so, how rare is that - or what type of volume do you think an agent would have to be churning out to be able to get that kind of offer / have the kind of "clout" to request commissions that high for selling 30-year term? Thanks in advance, guys

Which company? That makes a lot of difference. Street level with Assurity's 30-year term is 125%. All agents start at that.

With Prudential or Genworth, it's a whole different story.

 

[infologicd]

No production required. 120% on term...non med to $200k.ish

Thanks for the response... do you mind sharing which carrier that is with?

 

[TwiLight]

You will find that the more comp you receive will have a direct relation as to the competitive nature of the product.

Ex: the Assurity Product is about 35% higher in price compared to Protective's product at a Standard Rate.

$250k - 35Mns 30yr
Protective $488.18
Assurity $622.50

Street for Protective is 90% and Assurity is 125%.

Since Term is more of a price shopping product you could make a ton of commission on ZERO production. IMHO.

 

[JRoot]

If you were in the trenches, doing the volume you want to do - you'll take into account a lot more than commission percentages from your upline. No one really gets this until they're actually doing volume though.

Just letting you know this mental masturbation over commissions percentages will be a waste of time once you figure out how to sell term in volume.