Sentences with phrase «of the first year premium»

For term insurance it is generally a percentage of the first year premium with no renewal commissions paid.

From the 2nd policy year, the policyholder can pay as low as 75 per cent of the first year premium without any reduction in the initial sum assured.

The larger amount coming out of the first years premium.

With whole life or universal life it is generally a percentage of the first year premium and a modest renewal commission for anywhere from 5 - 10 years.

That salesman who hides behind the «financial advisor» title but is selling whole life insurance gets paid a huge commission (as high as 75 % of your first years premium!!)

In terms of the volume of the first year premium, it has increased from Rs 44,332.40 crore to Rs 59,996.46 crore during the year 2009 - 10.

The guidelines also added that the maximum expense, including commission, should not exceed 27.5 per cent of the first year premium in the first year, 7.5 per cent of the premium in the second and third year and 5 per cent in the 4th year and subsequent premium.

There are some ULIP's which indicated that 100 % of first year premium paid would be the policy administration charges.

For example if you go for a policy with regular premium structure, an agent can get about 7 to 30 per cent of first year premium amounts and this is no mean sum by any standards.

Commissions for these agents are based on a percentage of the first year premiums (in some cases up to 110 %) and their job is sell these low quality policies to unsuspecting and vulnerable seniors.

For instance, the analysis below shows an updated estimate of the economic value of the policy, where $ 4,500 of cash value is available to cover all of the first year premium and part of the second year's as well.

The insurance company saves the commission (about 30 % of first year premium, 5 % after that on an average) that it would have otherwise paid to the agent.

Most carriers I've seen pay 90 - 110 % of first years premium!

From what i know, a street rep gets 25 % of the first years premiums.

According to IRDA, this positioning as a two year premium plan allowed the insurer to pay 40 % of the first year premium and 7.5 % of the second year premium as commission to the bank, while had the plan been a single premium version the commission would have just amounted to 2 % making its high scale sales a higher commission earning machine for the insurance intermediaries who majorly surmise to SBI and some of its associated banks.

These charges sometimes went as high as 80 % of the first year premium and the customer's effective investment got eroded.

Posted in Independent agent, ING Reliastar, insurance, life insurance, term insurance Tagged % of first year premium, 40 % bonus, agent compensation, agent focus on compensation, commission, Dave Ramsey, huge bonuses, ING Reliastar, insurance, life insurance, New York, Selectquote, unfairly treated, won't quote Met Life, won't quote Prudential, Zander Insurance

The minimum fund value required after such withdrawal does not fall below 120 % of the first year premium.

Premium allocation charge (PAC): It is a percentage of the first year premium, adjusted before investing or allocating the units.

When I worked at a large carrier selling vary competitive term products we paid up to 130 % of first year premium to agents on some of our term products.

Generally speaking on a 20 year term life insurance policy the agent would get somewhere between 75 % and 85 % of the first year premium, so on a $ 1000 premium I would receive $ 750 to $ 850 the first year.

The life insurance agent would make about 75 % of the first year premium, or $ 612.50.

On the term insurance an agent would typically get about 90 % of the first year premium or about $ 3000.

There are companies that pay extremely generous compensation, sometimes more than 100 % of the first year premium, while others pay 75 %.