Negotiating Commission Split

[Marvette]

I am working for a husband & wife agency. Wife does commercial P&C, husband is the broker but comes to the office maybe 5 hours a week and his reputation is rapidly deteriorating. To save his clients, He is now asking me to sell & write his health, life & medicare business and he would sign the app's & receive the commissions. I told him I am not comfortable with that type of procedure but would split comm with him except for medicare. I have obtained all my licenses to include paying for my own E&O and bond so I could go independent. They want me to remain as office manager paying me hourly, plus $50.00 per app. Any suggestions as to how to split commissions?

 

[WCMason]

I am working for a husband & wife agency. Wife does commercial P&C, husband is the broker but comes to the office maybe 5 hours a week and his reputation is rapidly deteriorating. To save his clients, He is now asking me to sell & write his health, life & medicare business and he would sign the app's & receive the commissions. I told him I am not comfortable with that type of procedure but would split comm with him except for medicare. I have obtained all my licenses to include paying for my own E&O and bond so I could go independent. They want me to remain as office manager paying me hourly, plus $50.00 per app. Any suggestions as to how to split commissions?

I would split. Not commissions. Just split, as in "Run, Forrest, run!"

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[Josh]

Depending on the products some carriers do allow for a split agent on the app. That's the only way I would do it.

 

[Marvette]

Thank you for responding and I appreciate the advice.

 

[Cornelius]

Here is your answer. Use as an example www.term4sale.com and run some quotes. Now use a 50% commission split and compare just that with a $50.00 per app.. Not to mention with potential commercial clients you may be looking at some high face permanent products..