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Does anyone know what the average policy fee is that most companies charge. How much does Monumental, Foresters, Senior Life, RNA, 5 star charge. Basically all the heavy hitters.
Thanks in Advance!!
Thanks in Advance!!
Policy Fee Question.
- Thread starter GMDM100k
- Start date
- 26,170
Average $35.-$40. leaning more toward the $35. Not sure on commissionable.
- 3,165
- Thread starter
- #4
- 501
Thanks Lee!! Do you happen to know what any of the companies I mentioned charge? Or who might have the highest/lowest policy fee.
- 3,165
Monu is $3.50/mo, Foresters & 5Star are $3/mo, RNA is $2.61/mo...cant help you on SL.
- Thread starter
- #6
- 501
Thanks TD!! I have heard most charge $3/month. I was curious because I have only worked with one company and they charge $3/month per policy.
- 2,758
Keep in mind that some are commissionable and some are not. It depends on the company.
- 26,170
True. While not FE, we really get banged on non commissionable policy fees on Term. I have seen some as high as $100.
- 3,165
True. While not FE, we really get banged on non commissionable policy fees on Term. I have seen some as high as $100.
Lee, whats the company u mentioned awhile back, UH I think? Do they have a graded or modified plan?
Can you send me their info again if they do, thanks!
Columbian was too high & Todd said CSA wouldnt like me only submitting ROP biz, lol!
- 26,170
Yes and no.
Yes they have a very liberal (IMO) graded and a Modified (not GI). But the also have tightened up the app in now all but three states and lowered the rates.
The Modified will not work for you as it can only be a percentage of all business written. I think you have to have 5 PWL and/or GBWL to write one modified. I use it but am very picky on who I send them on Modified.
I think you are looking for GI, high first year comp with nice renewal, no unearned charge back, no requirement for clean business (adverse selection). Is that close?
