If an FMO won't send you the Compensation Schedule.........

CALTCAgent

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OK, not a big term life guy but if an FMO only gives you the compensation on certain 20-30 year term products, is that good enough for you ?

Do you get the compensation schedule or just take what they say the commission is for a particular product ?

I always like to have the schedule and to see what other products I may be contracting for and what compensation. Might include FE, GUL, etc, that I should know about, or is the term product enough to indicate what the other levels should be ?

I don't think I ever contracted without a comp. schedule, have I been doing things wrong ?
 
OK, not a big term life guy but if an FMO only gives you the compensation on certain 20-30 year term products, is that good enough for you ?

Do you get the compensation schedule or just take what they say the commission is for a particular product ?

I always like to have the schedule and to see what other products I may be contracting for and what compensation. Might include FE, GUL, etc, that I should know about, or is the term product enough to indicate what the other levels should be ?

I don't think I ever contracted without a comp. schedule, have I been doing things wrong ?


Get the schedule. It's yours. Many times you can get it from the company or download it from the company site.
 
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OK, not a big term life guy but if an FMO only gives you the compensation on certain 20-30 year term products, is that good enough for you ?

Do you get the compensation schedule or just take what they say the commission is for a particular product ?

I always like to have the schedule and to see what other products I may be contracting for and what compensation. Might include FE, GUL, etc, that I should know about, or is the term product enough to indicate what the other levels should be ?

I don't think I ever contracted without a comp. schedule, have I been doing things wrong ?

Get the schedule. Just know that not all carriers have the same schedule across all products. You can have a top schedule with a few products and a terrible one with others (w/ some companies).

Some carriers let the IMO pick and choose schedules based on products. Make sure that you have the whole picture if you plan on writing ancillary products.
 
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Good to know, I thought over the years I have seen various schedules where I might get a good comp. on one product and a haircut on another.

I just think there is a reason when someone won't show me the schedule. I would think FMO's have those readily available to send, maybe since it was a few carriers he was being lazy.
 
Good to know, I thought over the years I have seen various schedules where I might get a good comp. on one product and a haircut on another.

I just think there is a reason when someone won't show me the schedule. I would think FMO's have those readily available to send, maybe since it was a few carriers he was being lazy.

As Ray said they can be different levels per product. MoO for example looks like it is a fill in the dots type set up where the IMO picks this or that level. Renewals would be something to watch as well. When I am comparing I look at first year then five and ten year totals.
 
MoO for example looks like it is a fill in the dots type set up where the IMO picks this or that level. Renewals would be something to watch as well. When I am comparing I look at first year then five and ten year totals.

Interesting MoO was one of the companies.

100% commission on Term Express and 80% on GUL Express

Not sure if FE and any other products are in there. Or any renewals.
 
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