LTCFP Limits John Hancock Applications and Compensation
So this sheds light on why the LTCFP agent told my client John Hancock is no longer in business in his state.........."we must put the brakes on our John Hancock production or risk losing our contract with John Hancock as well as our bonus on production. John Hancock has asked for a drastic reduction in business until their new product is released this fall.
We are limited to 15 applications per month, nationwide, and since there are only two products available in CA, we are only allowing CA Resident Agents to write John Hancock LTC.
Everyone will have ONE LAST WEEK to submit JH apps at regular commission. As of next Saturday, April 5th, until further notice, any John Hancock apps submitted by Non-Resident California agents will be paid at ½ the normal commission rate."
So this sheds light on why the LTCFP agent told my client John Hancock is no longer in business in his state.........."we must put the brakes on our John Hancock production or risk losing our contract with John Hancock as well as our bonus on production. John Hancock has asked for a drastic reduction in business until their new product is released this fall.
We are limited to 15 applications per month, nationwide, and since there are only two products available in CA, we are only allowing CA Resident Agents to write John Hancock LTC.
Everyone will have ONE LAST WEEK to submit JH apps at regular commission. As of next Saturday, April 5th, until further notice, any John Hancock apps submitted by Non-Resident California agents will be paid at ½ the normal commission rate."
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