Commissions Etc.

[darnardo]

PruLife Return of Premium Term ($250,000 face Amount)

PruLife Universal Protector

PruLife Universal Plus

PruLife SUL Protector

VUL Protector

PruLife Custom Premier II

PruBenefit Select

Please tell me your average commission on these products in dollar amounts. Are there other similar products out there that directly compete with these?

 

[maksim]

um... i am sure people here will have different payouts on these. =) first of all, are you captive or independent.

Secondly... no one can tell you the commission in dollar amounts as all you gave is face amount.

why dont you just ask what your real question is.

and fyi... about every other company out there will have competing products.

 

[darnardo]

Hi Maksim

I am a market researcher for a big insurer. Sometimes they ask me to find stuff out that I believe only agents who pound the streets know. For example which products are more attractive to agents? Is it because of commissions? or client needs make it an easy sale? ...that kind of stuff.

All I can find is 122% of the 1st two years premium payments. That in effect tells me nothing as I don't have the average face amount and typical premium payment method.

I am interested in the experience you agents have on these products...

 

[maksim]

feel free to send me a pm or call you, link to my site is in signature, and my mobile number is there. will be running around tomorrow, but wouldnt mind help you out.

 

[TristanTLC]

Hi Maksim

I am a market researcher for a big insurer. Sometimes they ask me to find stuff out that I believe only agents who pound the streets know. For example which products are more attractive to agents? Is it because of commissions? or client needs make it an easy sale? ...that kind of stuff.

All I can find is 122% of the 1st two years premium payments. That in effect tells me nothing as I don't have the average face amount and typical premium payment method.

I am interested in the experience you agents have on these products...

We can't tell you dollar amount without knowing face amount. When speaking about commission, we talk about %, not dollar amount. We can generalize when it comes to smaller products like Final Expense, but there is no accurate way to generalize VUL or GUL products since the face value are all across the board. UL products can go as low as 50,000 face and as high as 40,000,000 face.

 

[darnardo]

OK since this doesn't seem to be getting me anywhere I've given up on trying to find a dollar amount. I thought it would be fairly easy for you agents to tell me the average face amt and payments method but I guess I was wrong in assuming that.

I will go with the percentage amounts posted on the product prospectus. However some of the products I mentioned I can't find their prospectus on the web:

Term Essential
Term Elite
PruLife Return of Premium Term ($250,000 face Amount)
PruLife Universal Plus

The commission is based on target commisionable premiums. For example: For PruLife Universal Protector...Broker-dealers will receive compensation of up to 122% of premiums received in the first 24 months following the Contract Date on total premiums received since issue up to the first year’s Commissionable Target Premium, and up to 4.2% on premiums received in excess of the first year's Commissionable Target Premium. Broker-dealers will receive compensation up to 6% of the Commissionable Target Premium in Contract years two through four and up to 4% of the Commissionable Target Premium in years five through 10. Moreover, broker-dealers will receive compensation up to 3% on premiums received in years two through four and up to 2.5% on premiums in years five through 10 to the extent that premiums paid in any year exceed the Commissionable Target Premium. Broker-dealers will also receive compensation in years two and beyond of up to 0.25% of the Contract Fund, net of Contract debt.

If you know the commissions for the above listed products plz let me know...

Thanks