What Your Life Insurance Agent Makes – on You

[Brian Anderson]

Investopedia posted a new (but familiar-themed) article on this topic today, which opens by saying there’s a good chance a life insurance agent – if you’ve met with one – told you that “taking out a bigger policy – or investing in an annuity – was the key to financial piece of mind.”

What Your Life Insurance Agent Makes

Goes on to say:
“Some insurance carriers are beginning to do away with renewal commissions on term policies... That’s one reason why sales reps may try to push whole life policies.”

Curious as to what carriers are doing away with term renewal commissions?

 

[VolAgent]

Investopedia posted a new (but familiar-themed) article on this topic today, which opens by saying there’s a good chance a life insurance agent – if you’ve met with one – told you that “taking out a bigger policy – or investing in an annuity – was the key to financial piece of mind.”

What Your Life Insurance Agent Makes

Goes on to say:
“Some insurance carriers are beginning to do away with renewal commissions on term policies... That’s one reason why sales reps may try to push whole life policies.”

Curious as to what carriers are doing away with term renewal commissions?

What carriers pay renewals on term? That is very except for career carriers.

 

[DHK]

My Assurity contract pays a renewal on term insurance, for 10 years while the policy is in force. After that, nothing.

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So... you're saying that commissions drive the recommendation?

If the policy fits the client's circumstances and is affordable, then does it matter whether I earn $100 or $100,000? The recommendation needs to stand on its own, regardless of agent compensation.