GR to Implement Decreasing Advance

[Crabcake Johnny]

I will confirm this today but GR will announce a decreasing advance: 5 months, 4, 3...to zero advance as we approach 2011. I also understand that HCO & AHCP will offer a six month advance that will not decrease. More info when I have it.

 

[TXINSURANCE]

IMHO this is temporary and will eventually end up with a 6 month advance after the dust settles and the new year begins...

 

[Crabcake Johnny]

Dunno. From what I understand GR does not want the liability associated with advancing their key brokers past Jan. 2010. I do not see that changing.

However, to your point: Yes, I believe they will start advancing again after Jan 1st on the new comp schedule.

 

[The Mole]

"I will confirm this today..."

Healthagent,

Were you ever able to confirm or deny the implementation of a decreasing advance? It makes sense, but I haven't heard anything from my rep.

 

[Crabcake Johnny]

Yes:

On Friday Golden Rule rolled out their advance commission adjustment to the field. For all Key Brokers, the advance will be on a decreasing scale for the remainder of the year. The decreasing advance starts with business issued in August. See chart below:

Advance structure for agents under Key Brokers:

· Issued in August = 5 month advance

· Issued in September = 4 month advance

· Issued in October = 3 month advance

· Issued in November = 2 month advance

· Issued in December = no advance