How Are Life Insurance Agents Paid?

How Are Life Insurance Agents Paid?

Life insurance selling commission ranges from 50 to 140 percent of the first year’s premium, which varies greatly depending upon the purchased policy and initial rate guarantee. Generally speaking, the longer the rate guarantee, the higher the selling commission. However, the commission on policy renewal is very low, typically only 1-5 percent. A new producer compensation model is currently being discussed, which would benefit all parties.

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The Ultimate Tips for Buying the Right Insurance for 2017

The Ultimate Tips for Buying the Right Insurance for 2017

Major life events make it critically important to construct a financial security net, and buying the right insurance is a cornerstone element of that security net. That said, it’s all the more remarkable that a survey by Princeton Survey Research Associates International found an entire generation is woefully underinsured. Insurance costs much less than you imagine and the National Association of Insurance Commissioners (NAIC) found that many of the underinsured wildly overestimate the cost of…

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How DUI, DWI Violations Like the Tiger Woods Incident Affect Life Insurance Costs

How DUI, DWI Violations Like the Tiger Woods Incident Affect Life Insurance Costs

Driving under the influence (DUI) and driving while impaired (DWI) are the offenses of driving a motor vehicle while impaired by alcohol or other drugs – including recreational drugs and those prescribed by physicians – and professional golfer Tiger Woods is becoming intimately familiar with the problems DWI can create for a driver rendered incapable of operating a motor vehicle. DUIs (Driving Under the Influence) and DWIs (Driving While Intoxicated) are often seen as purely…

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Stranger Originated Life Insurance Is Illegal

Stranger Originated Life Insurance Is Illegal

There is no reasonable circumstance that would justify an insurance company issuing an annuity to someone who is terminally ill or in severely poor health, and that’s according to LISA, the Life Insurance Settlement Association. But regardless of that stance, it’s a trending scheme among those engaged in insurance fraud. Agents involved in these schemes will seek terminally ill individuals to sell an annuity for a value so small it is worth the consideration for many….

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How Autism Spectrum Disorders Affect Life Insurance

How Autism Spectrum Disorders Affect Life Insurance

Every day, millions of Americans living with autism and their families face difficult challenges that many of us will never fully understand. Even when applying for life insurance later in life, the severity of autism spectrum disorders can affect acceptance and premiums. The Centers for Disease Control and Prevention recently reported that 1 in 68 children in the United States has been identified with ASD. It is clear that autism affects the lives of millions…

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