I wrote a big policy with Pru recently, never paid attention to my contract, and was shocked when the payout was 55%. I have three other policies pending with them and have written well over $1,000,000 in premium the last year total,all through the same brokerage, so my question is,how much bump up in commissions am I entitled too? I am an MGA for various medicare supplement companies and we always start agents out close to the top contracts to encourage business. I don't understand greed like that.......seems to me to deter business..... comments?
Prudential Financial Commissions
- Thread starter Marc
- Start date
- 10,276
"written well over $1,000,000 in premium the last year"
That's a hell of a lot. And more impressively...with just one company. Add in your totals from other companies and you may be the NUMBER ONE broker on the Board.
Of course...(Now don't take this the wrong way)... considering you have posted just twice, we don't know you very well. And sometimes. numbers get a bit inflated on this Board.
That's a hell of a lot. And more impressively...with just one company. Add in your totals from other companies and you may be the NUMBER ONE broker on the Board.
Of course...(Now don't take this the wrong way)... considering you have posted just twice, we don't know you very well. And sometimes. numbers get a bit inflated on this Board.
Well, I am just posting my experience, I have been in the business three years, and no not with one company,with many, I am Independent. Most of my marketing is to high net worth individuals, so my cases are usually large. Plus, before entering the industry I had plenty of sales experience,so closing is not a problem for me. However, when I initially contracted , the brokerage I used signed me up with all their carriers. All the intial contracts were in the 80-90% range, so I was shocked to learn that the Pru Contract was so low. I assume 90% for my production range is a reasonable percentage, but is more in order for me is what I am really asking. FYI, my production is spread across many companies.
- 15,319
Wow! Over $800,000 in commissions in one year and after only 3 years in the business.
Hard to believe but I can't imagine anyone who is anonymous posting anything but the truth. I bow down to your sales ability.
Rick
- 1,926
If you are doing over one million a year in premium, you should be getting well over 100% and closer to 125% or more
lifeinsuranceguy
Expert
- 60
Golfnut,
Whoever you are going through and placing all that premium with is holding too much over your head. The average commission with Prudential should ALWAYS be at least 65%.
If you are placing that much business, and they are only keeping you at 90% and 55% with Prudential, the brokerage is taking too much of your hard work. I'd look elsewhere or tell them you need more based on production.
Are you doing a lot of premium Financing for your higher-net worth clients?
Whoever you are going through and placing all that premium with is holding too much over your head. The average commission with Prudential should ALWAYS be at least 65%.
If you are placing that much business, and they are only keeping you at 90% and 55% with Prudential, the brokerage is taking too much of your hard work. I'd look elsewhere or tell them you need more based on production.
Are you doing a lot of premium Financing for your higher-net worth clients?
Sure, they wanted them to quit smoking, that was their chief concern - not. I think it was an inducement to take one of their crappy policies.
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