Commissions: Street level and Overrides

[FutureForbes]

What is considered street level commission? I have heard 80% and some can be lower.

What percentage of what you make is overrided to your manager, or does it depend on his/her contract as well?

 

[brookfieldpartners]

Street level is typically the top level contract a GA or BGA can put you at without having to show a marketing plan. Comp is going to be somewhere between 50-100 depending on carrier or product

BGA/GA comp is seperate. Coud be between 20-40 (depending on their production and product) BGA codes are not for producing, but for producing and have much higher annual production requirements.

 

[FinalExpenseDojo.com]

True street is around 90-100% for most Term products & 125-130% for most FE products.

 

[FutureForbes]

True street is around 90-100% for most Term products & 125-130% for most FE products.

That’s very interesting, and anything below is what the call below street level. Gotcha.

 

[FutureForbes]

Street level is typically the top level contract a GA or BGA can put you at without having to show a marketing plan. Comp is going to be somewhere between 50-100 depending on carrier or product

BGA/GA comp is seperate. Coud be between 20-40 (depending on their production and product) BGA codes are not for producing, but for producing and have much higher annual production requirements.

I see ok so it all go hand in hand, you get a down line, but you also have the requirement of getting them produce.

That is why “agency builders” on craigslist fail so quickly!?!?

 

[goillini52]

True street is around 90-100% for most Term products & 125-130% for most FE products.

Wow, I'm just a FE dabbler, but I didn't realize that most pay 125-130%. Do any pay 140%?

 

[Todd King]

True street is around 90-100% for most Term products & 125-130% for most FE products.

Wow! Seems like I've been left in the dark. When did most of the companies change to this?

 

[goillini52]

Wow! Seems like I've been left in the dark. When did most of the companies change to this?

I thought it was just me that didn't know about this Todd. If you've been left in the dark, maybe Broker4Ever can turn the light on for you.

 

[Life Hawk]

What is considered street level commission? I have heard 80% and some can be lower.

What percentage of what you make is overrided to your manager, or does it depend on his/her contract as well?

You should be running 100% to 115% street on whole life. Term may run 85% to 95% depending on what you sell. If you are new it might be less if you are with an FMO or IMO. That's OK if they help you along enough to make sense of what you are leaving on the table for them.

Ask the same questions 3 different times 3 different ways and look the SAME answers.

 

[FinalExpenseDojo.com]

@Todd King

Out of the big carriers that 99% of agents know about yes it is most. Small slip up but I think you know what I meant.

Keep it up Todd, you're starting to act like the FEX crew. It's best to respectfully disagree & have a conversation about it like adults. You used to be that guy on here. What happened?

I prefer the forum that isn't filled with pissing contests but if that's the kind of reputation you want to have then go for it.