- 4,823
Is it true that Final Expense FMO/NMO/IMO's get from 150%-180% commissions?
FMO/NMO/IMO Commissions
- Thread starter theinsuranceman
- Start date
Let's make them 200%. The more the better. And you, the agent, feel even miserable that your commission is so low compared with 200%.
- Thread starter
- #4
- 4,823
Whay kind of commissions do they pay you? Do you have to meet some sort of production requirement?
- 11,997
Top tier *might* get 150% if they're moving some serious volume and have past production to support it, but I've don't know anyone who knows anyone that gets 180%. Even if they did, the rates would have to be terrible.
- Thread starter
- #6
- 4,823
What kind of volume for 150%
Top tier commission on my companies will pay NMO contracts from 120-135; and they ALL have production requirements tied to the NMO level. My production requirements for Assurity is 2M, for Forester is 2.5M. Production requirements are different for different levels.
Theinsuranceman:
Just give you an idea what kind of commission level and GA/MGA get. Here is the commission schedule from a reputable insurance company with FE:
GA1 - 90%
GA2 - 95%
GA3 - 100%
MGA1 - 105%
MGA2 - 110%
MGA3 - 115%
MGA4 - 120%
You tell me who are you dealing with and how much they make and how much you make. Each level needs certain production to support the level. For an agent who wants to be GA/MGA, the first thing he or she has to do is to produce. With documented production, you might be promoted to the GA/MGA level. But you also have to recruit agents to support your volume. I doubt your personal production can get you too far in your promotion. You have to combine your whole agency production to be able maintain the current level or promotion to the next level. As of those who gets 130-150% commission, they are normally contract GA/MGAs, not much producers. Their over-ride commission is limited to the difference between contract they get and GA/MGA they give.
I would advice agents to put more effort on their own production, not too much of how much the GA/MGA get. If you have enough production, you can be the GA/MGA yourself. If you have good production and can recruit agents to boost your production, I am sure most NMO/MGA would love to have you as GA/MGA.
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- 11,997
Not to be rude, but if you're asking that question then you're nowhere near it. To even go to the table and ask the question you should have at least 500k in production over the last two years and you're still not even looking at 150%. If you get good, consistent production then talk to your upline about moving the contract levels up. If you don't have a good upline, let me know and I can help you get pointed in the right direction.
- Thread starter
- #10
- 4,823
For the record I personally produce 125k-150k per year. My group does $600k-750K per year. I know I'm nowhere near 150%. I'm asking because I'm curious about comm. levels. No...you were not rude.
