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 Posted: Thu Aug 26, 2010 8:46 pm Post subject: Life Insurance Commission percent? |
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Quick question: Is 60% commission on life insurance good?
Also, is a 10% override as a manager good?
Thanks.
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Noob
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| Posted: Fri Aug 27, 2010 12:51 am Post subject: |
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If you get leads, office, phone or smoe marketing it is good. Otherwise you show get 80% and 15% manager override.
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anonymous1111
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| Posted: Tue Aug 31, 2010 2:44 am Post subject: |
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10% of what? Overrides can be quotes as a percentage of commissions paid or percentage of total premium.
And what kind of business is that 60% on? Everything? That depends entirely on the deal you have. What kind of expenses are you carrying? Are you given any leads, Orphans, etc? |
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BNTRS
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| Posted: Tue Aug 31, 2010 10:03 am Post subject: |
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By the term 'override' are you actually pointing out to the total premium? Just as BNTRS pointed out, there are a number of factors that decide whether your commission percentage is good or bad.
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Pilgrim30
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| Posted: Mon Sep 20, 2010 4:57 pm Post subject: |
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I pay about 105% on most of my products. 60% is really bad on life products, unless they are giving your free leads and an office.
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Mark Rosenthal
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lifeagent911
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| Posted: Thu Sep 23, 2010 3:34 am Post subject: |
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I'm going to second Mark's opinion. 60% as an independent agent is pretty low. Most companies start at 90% and go up from there, sometimes to as much as 150% or more of first year premium.
10% overrides? A joke.
Now if you're talking about a system such as World Financial Group or Primerica, the commissions are even lower to begin with. 25% to 35%, until you get a "promotion" (based on recruits and sales) to a 50% contract. Eventually, you might get up to a 90% top manager spot.
I wouldn't necessarily knock it, because it's a good way to get sales training and learn products to be able to give it a go as an independent agent down the road. You just have to put up with all the Rah! Rah! and pressure to recruit.
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MaxHerr
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