40 Yr Old W/ NO Checking Account Needs FE Policy

An agent once told me that as long as a comapny would pay him 105%+ first year commission, he would guarantee 100% 12 month persistency on all modes of payment. :err:

haha. The problem is, depending on your tax bracket, you would need much more than 5% above the premium to keep from losing money.
 
An agent once told me that as long as a comapny would pay him 105%+ first year commission, he would guarantee 100% 12 month persistency on all modes of payment. :err:

I used to work for an old Mutual debit style company. Their commission contract had 4 areas that were monitored for the first year commisson rate on new business, two of which was 1st year peristancy and 2nd year persistancy. There was an agent in my office that had a 100% first year persistancy and kept 96% 2nd year persistancy in order to get the top commission rate. He kept these numbers for I know at least 7 years.

Funny thing was no one ever questioned him on how he did it?
 
I used to work for an old Mutual debit style company. Their commission contract had 4 areas that were monitored for the first year commisson rate on new business, two of which was 1st year peristancy and 2nd year persistancy. There was an agent in my office that had a 100% first year persistancy and kept 96% 2nd year persistancy in order to get the top commission rate. He kept these numbers for I know at least 7 years.

Funny thing was no one ever questioned him on how he did it?

He had to have payed premiums for some of them. Or maybe he collected weekly on their paydays.
 
Don't confuse him with the facts.. BTW, are you and your people going to be Navigators?

no we are staying away from that stuff. We will just refer it out now, we never wrote much of it anyway, mainly to spouses of Medicare clients. We have plenty of business on the annuity, Medicare and FE side to keep us busy.
 
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