AG 38 & Comp Cuts

qfs

Expert
Hello! I just received notice from my FMO that AIG will be reducing comp as much as 10% on certain products! (20-30 yr Term). Anyone else know of commission cuts by other carriers?
 
AG is the only one that we have heard of...and they said it wasnt AG38 that caused the comp cut, it was a price reduction that caused it. They are anticipating being back to the top 5 on term pricing after 1/1.
 
AG is the only one that we have heard of...and they said it wasnt AG38 that caused the comp cut, it was a price reduction that caused it. They are anticipating being back to the top 5 on term pricing after 1/1.

Didn't hear about the commission decrease...But did hear that if the policy lapses in year 1, you owe the ENTIRE yearly commissions payable...Doesn't matter if you as earned or not...Now I haven't actually heard that from Am. General, but that seems a little unfair to pay back 12 months of commission, that you may not have been paid on to begin with...
 
I happened to look at American Generals (Houston) comp structure on the EIAs this week. They have dropped dramatically. I do not know when they did as this is the first I have looked at them in a few months, but they are much different than last year, especially on the Global Index.
 
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