Senior Life Commissions

[myinsurebiz]

comp plan

 

[NSRH]

comp plan

100% Chargeback if client cancels in 6 months or less, and if 13 month persistency falls below 72.5% no renewals.

Lifetime renwals, and decent first year comp.

Interesting... thanks for sharing.

 

[HoosierLife]

100% Chargeback if client cancels in 6 months or less, and if 13 month persistency falls below 72.5% no renewals.

Lifetime renwals, and decent first year comp.

Interesting... thanks for sharing.

Yeah that chargeback part is crazy. And they used to have sky high renewals. Thier argument was that it would push agents to conserve business. I assume the 6 month 100% chargeback period was related to that as well.

But with normal First Year and normal renewals, this almost makes it not worth it.

I only ever wanted the GI product and it does have decent comp/renewals and only a 6 month 100% chargeback period. I wonder what happens if they cancel in month 7?

 

[Baseball7]

Isn't there a new GI product in the works josh?

 

[rousemark]

100% Chargeback if client cancels in 6 months or less, and if 13 month persistency falls below 72.5% no renewals.

Lifetime renwals, and decent first year comp.

Interesting... thanks for sharing.

0% renewals if you do not add Legacy Assurance.

 

[BibH]

Grange had 100% 12 month chargeback. For fe outside GI that's insanity . That reduces your true comp by 10-15% .

 

[theinsuranceman]

UPDATE...................

At our quarterly conference here in Orlando some agent friendly adjustments have been made:
1. Effective Feb. 1 direct express will be accepted (as earned of course)!
2. 13 month persistency requirements for life-time renewals has been lowered to 65%!
3. Agents with lead balances can still receive some of their advances deposited into their bank account even tough their lead balance may be higher than the advance!
4. Full charge-backs has been lowered from 6 month to 4 month!

We had an awesome conference in Orlando and one of our guest speakers was Eric Thomas. I'd never heard of him before but he is an excellent speaker.

When we have the next conference in 3 months, if I remember, I'll put the details up here so you can attend as my guest and see more about what Sr Life is doing on its way to growing to be the largest FE carrier in the industry.

If anyone would like a confidential phone interview or more details call me today @ 252-292-3350 from 9am est to 7pm est Mon thru Sat.

 

[Baseball7]

And ss billing?

 

[goillini52]

see more about what Sr Life is doing on its way to growing to be the largest FE carrier in the industry.

Larger than LH or AmAm?

 

[theinsuranceman]

And ss billing?

Yep, Ron (the President) said they're working on it. The programmers should have it finished , tested, and debugged in a couple of months.