Assurant Commission

May 10, 2008

  1. MOHEALTH
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    MOHEALTH Expert

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    Im a little confused...someone please explain this.

    I checked my commission report this morning for Assurant. The figure is off(short) by $300. I had three policies post last week.

    Monthly premiums (roughly)= $85 - $98 - $330

    The first two choose to pay monthly...the last choose to pay quarterly.

    My contract:

    20% advance to $500 - as earned afterwards.

    I did the math and it appears they paid me in full on the first two, but on the third they only paid me 20% of the quarterly. ???? WTF??

    Policy one = $204 in commish
    Policy two = $235.20 in commish
    Policy three = $792 in commish which I should only get $500 advanced

    The grand total should be $939.20

    However the actual total is $637.20

    When you do the math they only hit me for 20% of the quarterly on policy three. Does this make sense to anyone or am I F'ing crazy????

    Company receives $85 in premium and pays out $204 in commish
    Company receives $990 in premium and pays out $198 in commish
     
    MOHEALTH, May 10, 2008
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  2. CHUMPS FROM OXFORD
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    CHUMPS FROM OXFORD Guru

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    Could it be that some policies (RS or Core?) pay less commission? With Aetna the Value plans pay very little commission.

    I really don't know, but that's all I can come up with.
     
  3. susieQ
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    susieQ Super Genius

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    Quarterly premiums or direct bill with all the ones I work with are as earn not advanced. Seems like that's what it might be???
     
    susieQ, May 10, 2008
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  4. somarco
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    somarco That Medicare Expert Guy

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    I don't take advances, with any carrier, but I do recall that most (if not all) only advance on monthly bank draft.
     
    somarco, May 10, 2008
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  5. taterpeeler
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    taterpeeler Guru

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    bdraft gets the advance, quarterly get's as earned.
     
  6. MOHEALTH
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    MOHEALTH Expert

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    I gotta tell ya....I love this forum! Thanks guys. And yes from what I just gathered advances are only on bank drafts
     
    MOHEALTH, May 10, 2008
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