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 Insurance Talk V4!, Anything and everything about Insurance

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zixian96
post Nov 12 2018, 07:49 PM

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Hi folks, I'm trying to get some facts right here, thanks if anyone experienced can help me out.

Asked a few insurance agent on normally how much does they made on commission per sale, most told me it's about 25%, that's true for *maybe* LI or Medical insurance, but I would like to know what's the commission for saving plan? is there personal sales commission and group sales commission? or is it being paid in binary system?
zixian96
post Nov 12 2018, 08:33 PM

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QUOTE(Holocene @ Nov 12 2018, 08:13 PM)
Different company's rate is different and it also depends on how many years the client signs up for. For example, if a client signs up for a 3 year contribution saving plan the agent might be earning 17% of the annual premium over 3 years.

Personal commission applies to agents whereas group sales commission will apply to Unit Manager and above.

Best,
Jiansheng
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Thanks Jiansheng for your reply, under this circumstances, can I assume that me myself as an client, at least 17% of my total saving plan value are being used to pay comission to agent?
zixian96
post Nov 13 2018, 06:36 PM

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QUOTE(lifebalance @ Nov 13 2018, 11:56 AM)
Different product sold will result in different commission payout, can range from 3% - 35% depending on your product that you bought with the agent.

Mind you this is 1st year comm, there is still the 2nd - 6th year commission paid

Which overall results to 100% - 140%
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Let's say we're talking about saving plan , the kind that, pay 10k for 6 years and get 2k every year for 30 year+cash value, how much does the agent earn?

I'm asking these, because I'm surveying the agent market, wanna know how much incentive that the insurance company fork out to pay their agents.

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