- 5,056
how about 18 mo adv?
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Rookie question here but is this how MS commission works:
-You sell a policy, get $300 (12 month advance) upfront.
-On month 13 you would get $25 (assuming the client renewed)
Do you continue to get the $25 every month there after?
I guess this sounds too good to be true because let's say you sell 100 MS plans in 1 year, that would earn you $30,000. Not a ton of money...but when all those plans reach month 13 they start paying you $25 each per month? So that means your renewal income is also $30,000 per year...
Is this right?
That would be correct except you won't get a 12 month advance with most companies. Most are a 9 month advance. I do have some agents asking me for a 12 month advance. No way!
Actually most companies that I work with do a 12 month advance. I'm hoping to shut all my advances off in March 2012. I do not like paying interest.