Washington National pays a first-year commission
of 40 percent and a second-year commission of 4 percent to sellers of its Washington National Critical Solutions policy.
The first-year commission
for whole life insurance is usually between 50 and 70% of the first year's premium.
In addition, multlilife offers a heaped first-year commission
The company says it will offer insurance agents who sell the product a high first-year commission
and product training.
This incentive may be based on a small percentage of the first-year commission
or a fixed-dollar amount per new policy sold.
A plan could pay a first-year commission
that was any amount less than or equal to the fair market value limit, officials say.
The focus of rebating in life insurance sales has always been the agent's first-year commission
These "trailing commissions" provide a smaller first-year commission
, then ongoing commissions over the life of a policy.
Is it just the agent's first-year commission
and subsequent trails?
The company has two VULs ready to go in 2005, designed to provide trail compensation instead of the traditional large first-year commission