SPIAs normally pay a 1 time commission of 3%.So taki
Taking the 5 grandma example, each put in $100. Then they each put in another $100 to invest somehow. Then they pay 10% bonus to their agent immediately & of course insurance company makes some money & agent makes some more money over time.... & then they say each of their families gets their $100 i mean $90-expenses..... So really nothing involving getting any of the other dead grandma's money at all?
How would say to structure the 5 grandma scenario above & in the video?
SPIAs and life insurance numbers are very closely correlated (a life payout from a SPIA normally pays close to what the premium would be for a permanent face amount life policy equal to the SPIA premium)...of course.
Your term carrier likely issues these policies too. Guess where a lot of your term premiums go? Same general account.