Does anyone know how AXA pays commissions to its agents?
Does anyone know how AXA pays commissions to its agents? Say I sold a policy where policyowner pays $200 per month regular premium. How much will I make surrounded by that month if I sell 4 policies ((a) $200 per month regular single premium each)?
Assume 1st year commission is 60%.
I am assuming you are on a "60% contract correct" if so sold 4 policies at 200 per month. 800x12=9600x60%=5760 from then they probaly advance 9months of that which say that you made 4320.00 for the month before any expenses.
I would hang around AXA for a few months until you swot how to succeed doing this then go Independent, take several top life insurance contracts and run your own one man shop. Indy you can probaly get 100% contract.
Answers: That sounds like a great interrogate to ask the people in your upline. Most companies enjoy multiple contracts available, and "agent" contracts vary greatly from "broker" contracts.
An agent contract usually has a lower percentage, close to 40 - 60%, but they annualize or advance the commission to you and give you rather extra on top for the first few years. Most agent contracts also assign the case to the agency, meaning when you give, the case stays behind along next to residuals.
Broker contracts for life insurance usually start closer to 70 - 80%. This can increase substantially if you are a proven producer and are not a pain surrounded by the. Annualization is not typically available, but the business is yours as long as you keep the contract (or you assign it somewhere else).
I would suggest anyone getting into the business to start as an agent to get trained, but be skeptical of everything you are told. Once you know what is going on AND you enjoy a marketing plan, you might consider switching over to the brokerage side.