I Need Advice About My FE Commission

[VolAgent]

I am at almost 12% on Face. I get a little higher commission on the FE though. So I am so sorry to sound like such an *** . How are other agents getting 80%? Is that 80% of Face? They didn't go over any of this in my training sessions. Only thing covered was how to sell and how to pass the license test. Maybe spent 20 minutes tops on commissions and that left me dazed and confused.

Except for pre-need, most commission is quoted as a percentage of premium.

 

[WinoBlues]

You are right. I think it was too confusing to train me in Pre Need and then jump into FE. I am selling both for Forethought via leads from my IMO.The Pre need is based on Face. But no it is not a mistake. He ran my report and with pre need and Fe combined I sold 100,000 in face. Sorry if my terminology is off .I am fairly new . I got licensed at the end of February.
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Thanks Todd. It was a combination of Pre Need and FE sales.
I did the pre needs for the funeral home that the IMO trained me in at first. Those leads were very good. After doing both I like FE a lot better .
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So true Newby. I would rather just do FE and not Pre Need. FE seems more beneficial to the family in most cases.

OK, this still does not add up. You are saying over 4 months you have sold a total of $100,000 face amount of insurance. The equivalent of 4- $25,000 policies or 10-$10,000 policies? What part of the Bay Area are you in? What part are the leads coming from?
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The 80% number you're referencing is based on the annual premium, so a $100/month policy is $12,000 in premium and that's what the 80%/100%/whatever commission level is based on. Through that lens, what commission rate are you at? You might not be in a bad spot.

Man Josh, I want you paying my commissions. Got any contracts?

 

[Agent Angie]

Thanks for explaining that. Josh. I did sell a 12,000 policy last week and one a few weeks before and the premiums were a little over 100 a month on auto pay. I got almost 12% of that 12,000 on both. I wasn't complaining at all. Then when My agent friend told me he gets 80% I didn't know what he was talking about. I appreciate your explanation.

 

[VolAgent]

Man Josh, I want you paying my commissions. Got any contracts?

Now you know why Josh doesn't do assigned contracts. He's bad with math.

Also, if companies paid 80% commission on face amount instead of premium, they wouldn't use Vector to collect chargebacks. They'd hire Russian hit squads to collect.

 

[WinoBlues]

I am at almost 12% on Face. I get a little higher commission on the FE though. So I am so sorry to sound like such an *** . How are other agents getting 80%? Is that 80% of Face? They didn't go over any of this in my training sessions. Only thing covered was how to sell and how to pass the license test. Maybe spent 20 minutes tops on commissions and that left me dazed and confused.

Angie, do not sweat asking questions. That is how we learn. Here is an example - Male age 61 non smoker, $20,000 FE @ $82. per month or $958 per year though Oxford Life. @ 80% commission you make - $958 x 80% = $766.40. Very doable in your area.

Does that help?

 

[Agent Angie]

Hi Wino Blues. I sold 22 policies combined of FE and pre need in four months. Some were cremations some were funerals. Some were referrals in the same family. I work off the general price list for the local funeral homes for the pre need. I talk to them first to see if they are Ok with it and they have been very helpful and appreciate me so far and they know I am new and I'm bringing them business. Most said they appreciated me being respectful so the have been giving me leads too. I have kids in college and a mortgage. I have to sell a lot.
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That really helps Wino Blues! Thank You so much. I like my IMO a lot. I didn't think he was getting over on me .Just wanted to make sure.I appreciate your help.

 

[WinoBlues]

Hi Wino Blues. I sold 22 policies combined of FE and pre need in four months. Some were cremations some were funerals. Some were referrals in the same family. I work off the general price list for the local funeral homes for the pre need. I talk to them first to see if they are Ok with it and they have been very helpful and appreciate me so far and they know I am new and I'm bringing them business. Most said they appreciated me being respectful so the have been giving me leads too. I have kids in college and a mortgage. I have to sell a lot.

Where are you working? A funeral in San Jose is probably around $15,000. I called a Hayward cemetery, last month and they told me their plots start at $8,000.

BTW, because of your setup you may be on a different pay structure on the FE than we are used to. Newby would be better at answering that.

To figure out what you would have made on the FE alone you need to pull that out of the total Premium and multiply only that by 80%
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That really helps Wino Blues! Thank You so much. I like my IMO a lot. I didn't think he was getting over on me .Just wanted to make sure.I appreciate your help.

No problem, If I can help in the future hit me up. BTW, I sell in your area more than I sell in mine. You should be able to make a killing there. Go get em!

Oh my friends just call me Wino. Well, Rick calls me other things but we will not go there.

 

[Josh]

Thanks for explaining that. Josh. I did sell a 12,000 policy last week and one a few weeks before and the premiums were a little over 100 a month on auto pay. I got almost 12% of that 12,000 on both. I wasn't complaining at all. Then when My agent friend told me he gets 80% I didn't know what he was talking about. I appreciate your explanation.

I screwed up, but just fixed the numbers.

 

[WinoBlues]

I screwed up, but just fixed the numbers.

Dang it!


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[Agent Angie]

Nice to meet you Wino, My name should be Mojitos or rum and sugar. Ha Ha.