Term Renewals/trails

[AnonymousOne]

How many of you folks are being paid renewals or trails on your term and UL's for that matter. I ask because I have become accustomed to not receiving renewals on straight term. Let me know if I'm missing out. Thanks

I ask this in FE because I want to know what FE agents are using.

 

[axeman462]

I have only been independent for 5 months, but my contract says I will receive renewals for my term and UL. I will know if the contract holds true within the next month or so...

 

[VolAgent]

JMO, renewals on term is more common in a captive environment. The FYC is typically lower and some small renewal is paid. In the brokerage arena, renewals on term is all but non-existent. Instead you get a bigger FYC.
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[Norwayguy]

I have only been independent for 5 months, but my contract says I will receive renewals for my term and UL. I will know if the contract holds true within the next month or so...

I'm sorry if you have only been writing for 5 months you have 7 months to go before renewals start being paid. You might be thinking of the portion of first year commissions that have not been advanced to you.
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JMO, renewals on term is more common in a captive environment. The FYC is typically lower and some small renewal is paid. In the brokerage arena, renewals on term is all but non-existent. Instead you get a bigger FYC.

Not to mention your "renewal" is rewriting the case years down the road when the policy is expiring before the client does or converting the policy. I remember my NYL days I got 5% renewals but only 50% FYC so if you get 100% FYC it takes care of 10th years of captive pay.

 

[DSM]

You're not missing out.

 

[WinoBlues]

Off the top of my head I get renewals on Cinci Term 2% I think and I believe on Americo HMS term.

 

[HoosierLife]

I do the whole ezlife gig. One page app and I dont have to do anything else. They order everything. No trails. And comps are 85-105%. Cant beat that for the all of 2 term cases Ive done since selling FE.

 

[WinoBlues]

I do the whole ezlife gig. One page app and I dont have to do anything else. They order everything. No trails. And comps are 85-105%. Cant beat that for the all of 2 term cases Ive done since selling FE.

If I did not have someone to handle the back office stuff I would be all over the EZLife term. The little you give up in comp should be made up in time. Especially if you are talking small term premiums.

 

[AnonymousOne]

Thanks for the feedback. Just want to make sure I'm not missing anything huge, doesn't seem to be the case. Although I have been using the trans LB that pays 3.5% renewals year 2-10.