Hi guys would appreciate your help
My sister is in touch with a tied agent who sells products for a well known Insurance company.
She sent me the tied agents fee schedule and its shows the max they can charge for a single lump sum premium contribution is 5% and no trail commission (n/a) charged.
However, now the tied agent has actually confirmed with my sister that depending on how long the term is;
''less than 5 years 0% commission is charged, or more than 5 years 3% commission is charged''
Is this even possible? 0% commission for less than 5 years and no recurring trail commission either
How is the tied sales agent being compensated in this case or is it just too good to be true.
The sales agent can't be working for free so what exactly is going on here
My sister is in touch with a tied agent who sells products for a well known Insurance company.
She sent me the tied agents fee schedule and its shows the max they can charge for a single lump sum premium contribution is 5% and no trail commission (n/a) charged.
However, now the tied agent has actually confirmed with my sister that depending on how long the term is;
''less than 5 years 0% commission is charged, or more than 5 years 3% commission is charged''
Is this even possible? 0% commission for less than 5 years and no recurring trail commission either
How is the tied sales agent being compensated in this case or is it just too good to be true.
The sales agent can't be working for free so what exactly is going on here