What should be the commission of a 2 million dollar life insurance policy?

Question

Just a general range would be great, because i know there are many different types... Thanks!!

Answer 1

No way of knowing. It's going to depend on how much the premium is, and what type of life insurance policy it is.

It's NOT based on face value.

Answer 2

while in the business i saw commisions from 220 % down to 10%. The actual commision is a function of the premium so 2,000,000 on a young healthy person is less than on an older not so healthy person. A normal commision for a term policy is first year premium times abvout 50 or 60 %...each year after there is either nothing or maybe 10%. Whole life and universal life are somewhat different than that.

Answer 3

What the different answerers have stated is actual. it is also actual that maximum existence insurance is time period insurance it extremely is sturdy only for a particular era of time. Say you're a 40 365 days previous, non-smoker, with a 20 365 days time period coverage. the possibilities of you demise interior that era are so slender that the reassurance organization will in basic terms pocket all of your rates. After that era expires insurance on the previous price of rates isn't any longer certain and the customer might want to both forgo insurance or probably acquire more advantageous insurance with different funds and/or circumstances.

Answer 4

Dylan is right, and the premiums will vary greatly depending on the age, health conditions and other factors. Also the type of life policy can change the commission percentages.

Answer 5

Commision for life insurance is based on premium for the year. It's not based on the dollar amount of the policy.

Answer 6

2 Million Dollar Life Insurance

Answer 7

I'm interested in this as well

Answer 8

I too want to ask the same question