Monumental Commissions

[WinoBlues]

Its definitely a good way to protect the manager. But for an agent just getting started in the business., there can be a lot of earned commissions they are not paying but applying to your advance balance. To that new guy getting started $1500 a month in trails helps out a lot.

I may not have been clear.

The way she explained it to me was.
Example:$100. mo Premium Xs 12 = $1,200AP Xs 120% = $1,440 Xs 50%(advance) = $720 check. Also balance of $720 divided by 12 = $60. starts getting paid out when the policy is placed in force. For 12 months.

 

[Mark]

I may not have been clear.

The way she explained it to me was.
Example:$100. mo Premium Xs 12 = $1,200AP Xs 120% = $1,440 Xs 50%(advance) = $720 check. Also balance of $720 divided by 12 = $60. starts getting paid out when the policy is placed in force. For 12 months.

To keep is simple, less money in your pocket up front and if you dont lapse it, you will get the rest later.

Less Debit balance for the upline.

 

[WinoBlues]

To keep is simple, less money in your pocket up front and if you dont lapse it, you will get the rest later.

Less Debit balance for the upline.

I may be denser today than normal. How is it less? Seems like it is actually $60. more first month.

 

[Mark]

I may not have been clear.

The way she explained it to me was.
Example:$100. mo Premium Xs 12 = $1,200AP Xs 120% = $1,440 Xs 50%(advance) = $720 check. Also balance of $720 divided by 12 = $60. starts getting paid out when the policy is placed in force. For 12 months.

Going by the way you explain it here, it seems like less..

 

[WinoBlues]

Going by the way you explain it here, it seems like less..

She started to explain it as 75% advance but I am at 50%. Probably going to lower it to 25%

The math still works out at 75%, as higher, I think.

 

[VolAgent]

Going by the way you explain it here, it seems like less..

It would be more. Most companies would reduce the debt balance by $120 each month until the debit is gone. Instead, Monumental is only reducing it by $60 each month. So instead of the balance being gone in 6 months it takes 12 months. Same with 75%, the balance is only reduced by $90 each month so it takes 12 months instead of 9 to recoup the debt.

 

[TwiLight]

With advances being paid down faster with the 25% it also helps keeps the agent on Advances for life. That is good for no one.

It needs to be actively managed. Say after 6 months your upline can move you to start receiving the 25% advance. More money in your pocket. In another 6 months reduce your advance to 50% and receive the other 50 as earned each month......see the big picture in 2 years you could be off advances all together.

by never receiving the 25% as earned you only see advances and you will always be on an advanced contract never being able to get off because you only get your renewals.....Oh by the way, renewals were just reduced....LOL.

 

[jdeasy]

She started to explain it as 75% advance but I am at 50%. Probably going to lower it to 25%

The math still works out at 75%, as higher, I think.

When you get a 25% advance then they divid ehte other 75% by 12 and pay it to you anyway. I was on 25% advance with them for a few months.

Leave it to Monumental to further screw things up.

They are "Foresters bad!"