flat fee broker?

Jul 9, 2008

  1. on1sony
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    on1sony Expert

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    Why is there not a flat fee per deal broker out there? Or have I not run into one. I just got a commission structure from metropolitan financial group and for a street level commission if the premium on a AIG 10 yr term policy is 600.00 they deduct 50 dollars, and give you 60% of $550.00
    Which comes out too $330.00

    So they basically make 270-320 dollars on that deal and just serviced and ordered blood work exc...

    Why isn't there a company that charges a FLAT 200 dollar off the top comission structure? Regardless of how high the premium is.......?

    Please advise...
     
    on1sony, Jul 9, 2008
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  2. on1sony
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    on1sony Expert

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    This concept is very standard in the mortgage business and the mortgage business is very cyclical.... so i'm curious why insurance biz hasn't taken this route...
    i'm sure volume of insurance production is much more consistant then loan production volume... (dependant on rates and guidelines which change almost daily)
     
    on1sony, Jul 9, 2008
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  3. Newby
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    Newby Guru

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    What is it about them that you want to use them? They don't sound competitive at all. Shop around first.
     
    Newby, Jul 9, 2008
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  4. xrac
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    xrac Guru

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    Newby,

    That is a nice avatar!
     
    xrac, Jul 9, 2008
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