Insurance commission structure

[Shion]

From a 2012 blog post

From a 2015 blog post (MoneySmart)

 

[icyboiz]

it's lower now

 

[Shion]

it's lower now

Any ideas what are the % now ? It is good that we have some updates on this, especially when agents still seem to keep mum on this even though I believe they are required to disclose this if the clients ask.

 

[icyboiz]

i always disclose to my clients when they ask me. well, i don't represent all company so i wouldn't know how much are they getting. i believe different companies have different structure

 

[Shion]

66% from Pru ? That sounds ridiculously high !

 

[chopra]

Shouldn't have studied so hard

 

[tiny]

If your annual premiums is $8k, your agent also gets almost $8k of commissions after the end of 6th year. Very song.

 

[akwl88]

try to rmb agents dont sell 1 product to 1 person only

 

[Shion]

Shouldn't have studied so hard

But, this is job suitable for all ? Maybe yes, as long as you can sell ?

 

[icyboiz]

ILP from Pru is 66%, AXA is 48%... just a gauge of how much it can differ...

The premium payment term will affect commission %. SP got the least % compared to RP plans.

I got my commision schedule on my laptop, anytime customer ask i just open the official pdf show them.
But people seldom will ask since they are too focus listening or too shy to ask. Ask liao also dunno how to evaluate. Sometimes ask liao oso dunno can trust or not (past experience before I became a Financial Advisor, used to be super skeptical and still am).

The chart u have at the bottom is a good rough general gauge btw. Some comms higher some are lower.

ILP higest for AXA is 45% not 48..

 

[Shion]

ILP higest for AXA is 45% not 48..

Why not you do some sharing here ?

 

[icyboiz]

Why not you do some sharing here ?

What else would you like to know

 

[FP_IFA]

No idea how they got the shield plan comm from. From what I know it is about half of that. Plus remember whatever comm given is share between the adviser and his/her company. I have come across agents who totally avoid selling shields.

 

[Fuishere]

ILP from Pru is 66%, AXA is 48%... just a gauge of how much it can differ...

The premium payment term will affect commission %. SP got the least % compared to RP plans.

I got my commision schedule on my laptop, anytime customer ask i just open the official pdf show them.
But people seldom will ask since they are too focus listening or too shy to ask. Ask liao also dunno how to evaluate. Sometimes ask liao oso dunno can trust or not (past experience before I became a Financial Advisor, used to be super skeptical and still am).

The chart u have at the bottom is a good rough general gauge btw. Some comms higher some are lower.

Pru is 55% not 66%

 

[pinpinpin]

No idea how they got the shield plan comm from. From what I know it is about half of that. Plus remember whatever comm given is share between the adviser and his/her company. I have come across agents who totally avoid selling shields.

Yes. That is the basic somemore.

Met some ppl ask me take up plan that I dont need. So it is for their COMM la.

 

[neolaw]

Usually, Prudential has distribution cost in quotations.

Isn't it inclusive of agent commission?