Med Supp Comm Rates, help Needed

[PhxSunsFan]

Does anyone know how the following pay comm for an F or G plan:

Transamerica Premiere
Loyal American
Greek Catholic Union

Are there lower priced carriers that pay well. that dont show up on the ritter quote engine?

 

[somarco]

Ritter has a good quote engine that is free to use. Other IMO's also offer free engines as well.

The drawback to free is, you will only see carriers they represent. Nothing wrong with that as long as you are aware you are talking to prospects and only have a limited awareness of competitors rates.

As for your specific question about commissions, it varies. Depends on your production level and what the IMO is willing to pay.

Are there lower priced carriers in your area compared to the ones you listed. Probably. No way to know based on the information you posted.

 

[GreenSky]

Most supps pay within 1-2 points of each other. Looking for commission vs low rates is not helping your clients, only yourself.

All things being equal (rates, average increase, etc) there is no reason to use a lower commission carrier.

Rick

 

[GoPokes]

Does anyone know how the following pay comm for an F or G plan:

Transamerica Premiere
Loyal American
Greek Catholic Union

Are there lower priced carriers that pay well. that dont show up on the ritter quote engine?

Yes, there are lower priced carriers that pay well. BX pays a low commission, but has high rates, whereas MOO has higher commission and lower rates. So the actual dollar amount of the commission works out to be similar. Pay attention to the premiums in certain states, like OK for example, has low rates, so you make a lot less than some of the other states where the premiums start out $20-$40 more per month for the same age and plan.

 

[PhxSunsFan]

I know most carriers pay 20 year 1 and 10% yr 2.. doesnt gerber pay 20% at yr 2 as well? others that do?

 

[somarco]

most carriers pay 20 year 1 and 10% yr 2.

I don't have any carriers that use a hi-low commission scale unless you count service fees after year 7.

 

[BuckNasty]

Does anyone know how the following pay comm for an F or G plan:

Transamerica Premiere
Loyal American
Greek Catholic Union

Are there lower priced carriers that pay well. that dont show up on the ritter quote engine?

Transamerica street is 22%. I'm at 24% based on production. Guessing there is another point available if your were at $1mil per year or so. Not sure about other two carriers.

 

[sman]

I know most carriers pay 20 year 1 and 10% yr 2.. doesnt gerber pay 20% at yr 2 as well? others that do?

Then what you know isn't accurate. Most carriers in most states pay the same level commission for 6 years. So if they pay 20% in year one, they also pay 20% in year six. Yes, there are exceptions.

 

[Franki52]

Aarp in most states (I live in AZ) is paying Lifetime Renewals as of 5-1-18. It’s a set amount (approx $250) but rates are stable and you can slide from one plan to another. BCBS had strong advantages now too.

 

[Chazm]

Aarp in most states (I live in AZ) is paying Lifetime Renewals as of 5-1-18. It’s a set amount (approx $250) but rates are stable and you can slide from one plan to another. BCBS had strong advantages now too.

I thought the email said lifetime commissions , but it didn’t specify. And then later it came out that after year 6 it’s like $6/month.