Transamerica Changes

[FONT="Calibri","sans-serif"]Commissions for lifetime and limited pay stay as before until 30 days from the 4/3 date on the letter[/FONT]
· [FONT="Calibri","sans-serif"]After 5/3, there will be no commissions for limited pay[/FONT]

· [FONT="Calibri","sans-serif"]After 5/3 no lifetime benefit policies can be sold[/FONT]

· [FONT="Calibri","sans-serif"]Agents can still sell limited pay after 5/3 but will get no comp[/FONT]

· [FONT="Calibri","sans-serif"]Agents will not be able to quote lifetime benefits or limited pay after 5/3[/FONT]

· [FONT="Calibri","sans-serif"]We are being told that internals can still run limited pay quotes after 5/3 with no comp to agent if they want to sell them.[/FONT]

· [FONT="Calibri","sans-serif"]For original comp level on limited pay or for lifetime benefits, apps must be signed and received at home office by 5/3/2013, 5pm central time[/FONT]

[FONT="Calibri","sans-serif"]Comment:
no more Lifetime benefits...........[/FONT]
[FONT="Calibri","sans-serif"]Understood.[/FONT]

[FONT="Calibri","sans-serif"]No more comp on limited pay.[/FONT]
[FONT="Calibri","sans-serif"]?????[/FONT]
[FONT="Calibri","sans-serif"]So, why would an agent sell a limited pay and not receive comp? Why not just discontinue limited pay as an option?[/FONT]

[FONT="Calibri","sans-serif"]Strange move from a strange carrier.[/FONT]
 
[FONT="Calibri","sans-serif"]Commissions for lifetime and limited pay stay as before until 30 days from the 4/3 date on the letter[/FONT]
· [FONT="Calibri","sans-serif"]After 5/3, there will be no commissions for limited pay[/FONT]

· [FONT="Calibri","sans-serif"]After 5/3 no lifetime benefit policies can be sold[/FONT]

· [FONT="Calibri","sans-serif"]Agents can still sell limited pay after 5/3 but will get no comp[/FONT]

· [FONT="Calibri","sans-serif"]Agents will not be able to quote lifetime benefits or limited pay after 5/3[/FONT]

· [FONT="Calibri","sans-serif"]We are being told that internals can still run limited pay quotes after 5/3 with no comp to agent if they want to sell them.[/FONT]

· [FONT="Calibri","sans-serif"]For original comp level on limited pay or for lifetime benefits, apps must be signed and received at home office by 5/3/2013, 5pm central time[/FONT]

[FONT="Calibri","sans-serif"]Comment:
no more Lifetime benefits...........[/FONT]
[FONT="Calibri","sans-serif"]Understood.[/FONT]

[FONT="Calibri","sans-serif"]No more comp on limited pay.[/FONT]
[FONT="Calibri","sans-serif"]?????[/FONT]
[FONT="Calibri","sans-serif"]So, why would an agent sell a limited pay and not receive comp? Why not just discontinue limited pay as an option?[/FONT]

[FONT="Calibri","sans-serif"]Strange move from a strange carrier.[/FONT]



they stopped selling lifetime bp and limited pay options almost a year ago.

this isn't new.
 
I was about to say, I've had limited pay all this time..... Is New York tough to change products so this is a way to stop sales without going thru the DOI?
 
Yup, new for NY and my original question is still unanswered. The NY bulletin says that they will still offer Limited Pay options, but there will be no comp.

So, by a show of hands, haw many of you will sell
10-pays with Transamerca for no comp?
 
I think your question was answered. Purposefully disincentivising Agents will effectively kill those products without having to go through the DOI.
 
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