Does MassMutual Have a Good Broker's Contract?

[padthaiforlunch]

So, who is giving out these contracts above street for Mass?

My money says if Crump did, they don't anymore since Mass went to territories.

Or are you just spouting crap?

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.

 

[LIFL]

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

Any updates on MassMutual Broker contracts? Possible to get contracted for their 6.2% dividend paying Whole Life insurance product ($2.5 Billion Dividend payout for 2025).

 

[Tahoe Ray]

Any updates on MassMutual Broker contracts? Possible to get contracted for their 6.2% dividend paying Whole Life insurance product ($2.5 Billion Dividend payout for 2025).

They have a great broker contract for upfront comp from most BGAs.

Their backend/bonus contracts are great if you contract directly through their brokerage managers.

The 6.2% number is nice but meaningless overall. It's a solid product but I wouldn't sell it on that alone.

 

[DHK]

I really appreciate Brandon Roberts and Brantley Whitley's report from a few years ago: "What you need to know about whole life insurance dividends: why the dividend rate is only part of the story."

A dividend is a divisible surplus of gains declared by the board of directors after general investment account returns, mortality experience, new sales, and operational costs... represented as a %.

It is NOT an interest rate.

 

[PrivClientSG]

I started out, about a hundred years ago, with a Mass Mutual "broker" contract. The general agency I went through had a very big, deep, brokerage department. A big producer recommended them and introduced me. They started me out at higher than 55% and gave a "bonus" schedule which (I think) they called an "expense allowance" or something like that.

However, they told me right up front, if I planned on sending then substantial business, they were more than willing, and invited the opportunity, to talk to me about higher payouts. We had several meeting over the course of my first two years with them, and of course they were talking to me about why I should utilize MM more, consider them more, etc. -- and of course, there was financial incentive, LOL.

In my third year with them I placed very substantial business with them, and they offered me what was then known as a PPGA (personal producing general agent contract).

Yes, people talk about -- and they throw the #'s around like they are all over the place -- 110%, 120%, and so on, payouts. I am not saying they don't exist, but they are a hell of a lot closer to a pink unicorn than they are a Labrador retriever, LOL.

All that said, it is not simply about the payout. I've been offered higher payouts to send my business elsewhere, but I know the shop I am with gets more/better underwriting concessions and results, has far better time-in-underwriting, and provides more advanced case/design support, etc.

A 90% payout on a rated case may get you nothing. But an 80% payout on a standard rated case gets you a lot.