Medicare supplement commission

[tippingpoint]

What does a typical commission look like on a medicare supplement? For final expense it might be a $600 annual premium X 115% or $690. And say you take a 75% advance or $517 goes in the bank then you subtract your expenses and consideration for your future chargebacks. What might a ballpark medicare supplement look like?

 

[Yagents]

Can't compare because Medicare plans have higher renewal income. Equals about $300/year X 6 years at a minimum. (But I don't sell FE, so I could be speaking out of my ......)

 

[Todd King]

What does a typical commission look like on a medicare supplement? For final expense it might be a $600 annual premium X 115% or $690. And say you take a 75% advance or $517 goes in the bank then you subtract your expenses and consideration for your future chargebacks. What might a ballpark medicare supplement look like?

The typical Med Supp will pay 20-22% on average. Whatever this figure is, is also the renewal figure. So, if the monthly premium is $120, then $120 x .20 = $24. $24 x 12 = $288 for the year. Some companies advance 9 months and some will advance 12 months.

 

[pogo]

UHC doesn’t use a percentage for Med Supp except in WA (8%). Other than Wa, their commission is a set $ amount that varies by state, from $165/yr to $458/yr fyc, then commission for years 2-6 ranges from $165 to $345.