Is 70% Commission on Term Reasonable
- Thread starter Go Green
- Start date
- 5,056
Chazm, it's term...how much training do you think you really need?
- 1,802
It all comes down to the level of support that you, the agent, are needing. If an agent is willing to do more of the work themselves; then they will be paid accordingly, and typically in the 115-125% range. Depending on the volume these numbers can still increase.
More support; less compensation. Every marketing organization should have a free quoting platform and access to forms. They should also have access to the E-applications that are made available by the insurance companies; not the marketing platform!
Great Topic!
- 4,096
I don't write that much life maybe 6-12 policies a year and 70% on term is what I am getting through a GA.
- 1,802
- 149
70% is low if you are generating your own leads. Different carriers offer a higher compensation rate for the same product. Our GA offers more than that for new agents and based on volume will raise the split.
- 159
Ditto!
ABC - Feel free to PM me if you want a better contract...I'm here in Indy and have a GA contract with a few carriers.
- 4,096
Currently have GA contract and depending on the carrier it averages about 70%.
I saw where Met life is only paying 50% on term but their rates are way low.
I have looked at a couple of other GA's and they were not offering any better deal than what I am getting.
What kind of GA contracts are out there where you are making 100% and what carriers are they using?
My rule when it comes to life insurance is I get the client the best deal and if that means taking a lower commission then that is ok with me.
I saw where Met life is only paying 50% on term but their rates are way low.
I have looked at a couple of other GA's and they were not offering any better deal than what I am getting.
What kind of GA contracts are out there where you are making 100% and what carriers are they using?
My rule when it comes to life insurance is I get the client the best deal and if that means taking a lower commission then that is ok with me.
- 159
There are some competitive contracts higher than 70% for Term, and if your looking for triple-digits contracts it's possible if you show proof of production, promise X amount of prod. in the next 12 months, etc.
I'm apprehensive about posting Carrier names and numbers here, but feel free to PM or email me.
- 131
I know agents with 100-105% contracts who are broke, and I also know agents with 65% contracts+ free leads who are doing very well.
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