Is the Street Rate for Term Policies 70-75% Commission with No Renewals?

[Agentinjax]

What should an agent expect to get for commissions on term policies and UL or whole life policies?

 

[HoosierLife]

What should an agent expect to get for commissions on term policies and UL or whole life policies?

If you'll take 70% I'll be your upline

 

[WinoBlues]

What should an agent expect to get for commissions on term policies and UL or whole life policies?

25% (Primerica) to 120% (independent)

 

[scagnt83]

For an independent it is 70%-120% depending on the carrier and product. ULs get 2%-5% renewals usually. WLs get slightly higher than ULs usually.

Simplified Issue usually pays more than Fully Underwritten. But it is usually a smaller premium.

So it all depends.

 

[Life4me]

How many simplified issue can you write will you are waiting to get paid on the "bigger" case? Won't the premium be almost the same or even higher meaning that that you can write 5 cases for example at $50/month vs a $150/mo term and get paid faster at the same time.

 

[WinoBlues]

How many simplified issue can you write will you are waiting to get paid on the "bigger" case? Won't the premium be almost the same or even higher meaning that that you can write 5 cases for example at $50/month vs a $150/mo term and get paid faster at the same time.

The question was about commissions. Tyler answered and clarified while the percentage is higher with SIWL the average premium is going to be higher FU. No one mentioned app count, driving cost, lead cost, time, persistency, service, claims, frustration ........

 

[rousemark]

70%-75% is certainly the level on my street.

 

[GreenSky]

The question was about commissions. Tyler answered and clarified while the percentage is higher with SIWL the average premium is going to be higher FU. No one mentioned app count, driving cost, lead cost, time, persistency, service, claims, frustration ........

I meant to post this earlier, but what you need to consider is app count, driving cost, lead cost, time, persistency, service, claims, frustration ........

Rick

 

[Agentinjax]

I was thinking 70-75 is pretty low especially if you have a nice book of business to cross sell. I could see if perhaps I were new with no business on the books. I just wasn't sure. My life experience is from AIG when it was still AGLA and I think most of us have stated some experience with them over the years, in this forum, and the convoluted commission schedule we were given.

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AGLA/AIG ...whatever...I maybe stating this wrong just in case someone is checking. Ugh"

 

[WinoBlues]

I was thinking 70-75 is pretty low especially if you have a nice book of business to cross sell. I could see if perhaps I were new with no business on the books. I just wasn't sure. My life experience is from AIG when it was still AGLA and I think most of us have stated some experience with them over the years, in this forum, and the convoluted commission schedule we were given.

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AGLA/AIG ...whatever...I maybe stating this wrong just in case someone is checking. Ugh"

70-75% maybe a 10 year term. 20-30 year is going to be higher depending on the IMO and what you get from them.