Commission Split on Life Insurance with Customer?

[asher]

Why is this even still under discussion???

 

[Cash]

I think there might be more to it. When I was in the mortgage business years ago, every time I worked with an Indian client they would haggle and beat me to death on everything. I realized that is their culture, they don't realize that in the US we don't operate the same way they do. I'm not trying to be prejudice or racist at all... its normal and common in that culture. Given his user name, just a guess but maybe that could be part of the situation.

Bottom line, its NOT legal to do. Asking an agent to take that kind of risk - well maybe some will take it, but I'm sure most won't. Like DHK said, get licensed and write the case if you want the commission $.

Bingo! I didn't want to be the first to say it either.

Can I ask for two dollars back from my Blizard price? I mean a three dollar profit seems like a lot for 20 seconds of work.

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You know this thread has just drew the outline of a perfect crime.

Scam artist lays trap with huge commission case. Shops for a crooked agent to take the bait.

Crooked agent takes the bait and kicks back half the commission to the scam artist thinking he is scamming the system but finds out he is the mark when the chargeback hits.

Can't report it because he was scammed while he thought he was the one pulling the scam.

There's the start of a good murder mystery novel there.

I like where you are going here. If we could somehow work the *** fiasco in it would be gold.

 

[jamesflou]

Illegal and if there is a charge back because you die within the first year it would be charged to that agent.

 

[punkin]

I had posted a reply back few days back to this thread but somehow it did not appear in the thread.

I see we have tough crowd here, but I respect your blunt honestly.

I also see people have created assumptions on the commissions without inquiring about the details of policy. I am looking at a policy which will have approx 18K premium. I am also planning to overfund the PUA with 300K for first 2 years. I also plan to fund PUA going forward with 50-70K annually in years 3+. As I would like to do first 2 years together (back date policy), the commission would be ~20K in the first year itself. On going yearly commission would be ~$2.5K.

I know I will get flamed for saying this, but this is a very handsome reward for any agent for couple of days of work.

The question on commission split in the first year was asked by me with entire sincerity, as I did not find the answer to it anywhere on internet. The reason I asked it was because commission splits are very common in real estate and I did not want to overpay on policy by not knowing how WL works.

I know that there are many wise people in this forum who might understand cost value of money better than I do, but I am trying to learn and do the best I can. I am also doing my due diligence to make sure I get the best policy at best available terms

Thanks alot for your guidance. I honestly appreciate it!

I think Walmart has an insurance department that can help

Seriously you get what you pay for IMHO.

 

[TxJohnny]

I wonder how many PM offers he got to split the case?