Cfg renewals (getting screwed, I think)

[deeznuts]

I am curious if I am getting screwed by my upline on my CFG renewals. Keep in mind I have 10 guys that write under me, so I have a healthy 1st year commission. But my renewals are only 8% with cfg. This seemed very low. When asked my upline they said you have the “front loaded commission plan”. I feel like this is not accurate info. Could anyone shed some light on this?

...i thought columbian was known for renewals.

 

[rousemark]

I am curious if I am getting screwed by my upline on my CFG renewals. Keep in mind I have 10 guys that write under me, so I have a healthy 1st year commission. But my renewals are only 8% with cfg. This seemed very low. When asked my upline they said you have the “front loaded commission plan”. I feel like this is not accurate info. Could anyone shed some light on this?

...i thought columbian was known for renewals.

I would say that like most companies selling FE they have several commission schedules..Without some idea of your first year commission it will probably be impossible to answer your question..

 

[DayTimer]

... But my renewals are only 8% with cfg. This seemed very low...

CFG pays 13% to the agent in renewals. Whether you are getting screwed or not depends upon what you were told when you first contracted with your upline. FYC I believe is 115% for anyone whose group is producing less than $200 to $250K AP. There is a bump somewhere at the level, and I think the bump is 10%. If your FYC is greater than 115%, then perhaps your upline did "frontload" your FYC and they are making up their cut on the back end.

 

[deeznuts]

My group is producing over 2mil a year, 700k+ just with CFG. So my 1st year is much better than 115% but I feel like there is much more available on the renewal end than I am getting. I understand they need there over ride, I was just hoping for like 10-11% at least. And I should have been more specific up front about renewals. I just wonder what the IMOs typically have avaiable on renewals. I would assume 14-16%?...

 

[DayTimer]

My group is producing over 2mil a year, 700k+ just with CFG. So my 1st year is much better than 115%.

Nicely done - congrats on your business building!

I just wonder what the IMOs typically have avaiable on renewals. I would assume 14-16%?

I'm not sure if you were asking me this, but just in case I wanted to say "I don't know."

I'm a small potatoes peon compared to the levels you are addressing.

 

[myinsurebiz]

My group is producing over 2mil a year, 700k+ just with CFG. So my 1st year is much better than 115% but I feel like there is much more available on the renewal end than I am getting. I understand they need there over ride, I was just hoping for like 10-11% at least. And I should have been more specific up front about renewals. I just wonder what the IMOs typically have avaiable on renewals. I would assume 14-16%?...

If your personal production is getting you more than 115% that is why your renewals are single digit. Street is 115% with 13% renewals. FYC can go as high as 139% - but would take $1million personal.

 

[Baseball7]

Street is 115% with 13% renewals

 

[jonathan b]

On the home service side ... i know they pay 20%. Was offered 90% first year and 20% forever on final expense 2 weeks ago but i have known george for over thirty years.

 

[myinsurebiz]

On the home service side ... i know they pay 20%. Was offered 90% first year and 20% forever on final expense 2 weeks ago but i have known george for over thirty years.

That is street on MDO

 

[myinsurebiz]

On the home service side ... i know they pay 20%. Was offered 90% first year and 20% forever on final expense 2 weeks ago but i have known george for over thirty years.

I would take that offer if just produced a little. 20% forever is nice.

You can get 139% + 21.5% on top level - but, that's a mill . . .