2 Massive Cases

Zmurre

Expert
26
Hello. I am working on a massive case with a pastor. The church is funding the policies. I am currently with a IMO now and contracted with multiple FE companies. I am a independent agent. However the advance caps with this IMO are extremely low. These will be million dollar policies whole life at $2200 a month premium per policy. I have been working with this case for a month now, and they are ready to move forward. However the advance cap with a lot of the companies with the IMO are dlset at $1500. I refuse to just receive that on a massive case that Ive worked for some time . I want my commissions up front with no cap like it was when i was with Mass Mutual and Northwestern. Can anyone recommend a good IMO/BGA that you work with for your much larger cases. Please advise. Somewhere I will own my book of business, have an open release policy and I will get paid whatever my commission is with no low cap. I am still staying with my current IMO for my fe business, but for larger cases they are not ideal.
 
Man i dont have time for negative feed back. Do not question me and definitely dont comment if you dont have a solution or anything to say to help. Thank You.
 
I have written several large cases lately and did not ask for annualization. When the monthly premium is paid I get my commission. Most WL contracts, especially a case that size, won't pay 100% but it will be close so you would get around $4400 monthly and you don't have to pay back advances if the policies lapse.

I use The Marcus Agency for my large cases. They are very good at getting the policy issued and sometimes at a rate less than quoted.
 
You may be advanced only $1500 on each policy, but the first month you would start as earned on the $700. From then on as earned on $2200. If there was a way to get advanced I personally would worry about paying back close to $40,000 if the policies lapse.
 
Got it. Im not trying to be advanced much or get it all up front. But at least $3000-$5000 advance on a policy that big. My gosh.
 
Man i dont have time for negative feed back. Do not question me and definitely dont comment if you dont have a solution or anything to say to help. Thank You.


Don get commission breathe. As earned on these bigger cases are great for cash flow. Unless you have a history of closing and keeping larger policies you are going to be capped. BFD, if each case is 2-$3,000mo. That is great cash flow. Just ink the deals.
 
Got ya. So go with as earned? And just keep my steady cash flow? Winoblues? Dont try to get a big advance.
 

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