Summary
Personal Compensation is what you earn when you help a client directly as a Writing Agent or Split Agent on a Deal. Examples below.
Best results come from combining volume with MACHO fit.
Lead qualification is how we decide who to focus on first! It comes down to three things: MACHO fit, your connection to the person, and their timing.
Personal Compensation Examples
Personal Compensation is what you earn when you help a client directly as a Writing Agent or Split Agent on a Deal.
What are Points?
Insurance companies use something called Points to measure how big a policy is — and they're the starting point for calculating how much you earn. To figure out the points for a Deal, just take the monthly premium your client will pay and multiply it by 12. So a $500 per month policy equals 6,000 points.
What are Contract Rates?
Then, your Contract Rate determines how much of those Points you earn. Your Contract Rate increases as you promote — so the faster you grow, the more you earn on every deal.
Life Insurance Example
For a $500 per month policy, there are 6,000 points total. At an Associate Contract Rate of 30%, you'd earn an $1,800 commission. As a Field Associate, one level up, your Contract Rate is 45% so you'd earn $2,700 on the same policy.
Annuity Example
Annuities are calculated differently than life insurance policies. Each annuity product has its own payout rate. To calculate the commission for a 401(k) rollover to an annuity, just take the rollover amount and multiply it by the product's payout rate to get the total points.
For a $250K rollover to an annuity with a 7% payout rate, there are 17,500 points. At an Associate Contract of 30%, you'd earn $5,250. At a 45% Field Associate contract, you'd earn $7,875.