Does MassMutual Have a Good Broker's Contract?

[Jman718]

I have a interview with MassMutual this Thursday, I am really wanting a broker contract only. If they do offer one, does anyone know there conditions, and commission rates.

Thank you in advance,
Jman718

 

[Franz Kafka]

Broker contracts are given out at agency level. You get the same commission as a career agent (55% FYC for WL) without all the benefits (not a good deal compared to other carriers). There's a graded bonus based on your production. Broker contracts are usually given to career agents who can't hit their numbers.

 

[Newby]

Actually MassMutual gives a much higher broker contract than that. You have to also include the Expense Reimbursment Allowance and hit some minimal sales levels.

 

[xrac]

I have a interview with MassMutual this Thursday, I am really wanting a broker contract only. If they do offer one, does anyone know there conditions, and commission rates.

Thank you in advance,
Jman718

You can definitely get a brokers contract. No problem.

 

[Franz Kafka]

Actually MassMutual gives a much higher broker contract than that. You have to also include the Expense Reimbursment Allowance and hit some minimal sales levels.

Really? I'm looking at broker commission schedule now and it's exactly the same as career agent's(?) Allowance is also the same starting at 48k fyc (?) How much are you getting? If it's high enough I'm ready to jump ship (?) LOL

 

[Newby]

Really? I'm looking at broker commission schedule now and it's exactly the same as career agent's(?) Allowance is also the same starting at 48k fyc (?) How much are you getting? If it's high enough I'm ready to jump ship (?) LOL

Send me an IM and I'll forward the info to you.

 

[padthaiforlunch]

So there's super-secret commissions?

One of the first contracts I got was with MM, going through my local agency. Since MM has gone to territories, I was under the impression that I had no choice on who to get my contract though.

The MM website has commission structures for captives and brokers and I'm seeing the same thing as Gregor Samsa.

 

[Marpol]

To get a broker contract you need to be a broker (Duh).....its volume that counts....if you go to Mass and say...Hey mass i just got my licence I want a brokers contract...they will give it to you but at 55%. If you are Crump and say I want a brokers contract you will get 135%. Pretty simple. We pay more then 55% on mass to our smallest producers....but you do not get an allowance....that's the diference of being an independent agent or a captive agent.

 

[padthaiforlunch]

Oh, so you can get contracted with Mass through Crump?

 

[Marpol]

I have no idea if Crump has a Mass contract....it was an example. Although i would not be surprised if they do.