Transcript Prospecting Appointment Setting Presentation Overcoming

Compensation
Term life Insurance
Investments
Variable Annuities
Refinance Mortgages
Debt Re-Structuring
Long Term Care
Legal Protection
Auto & Home
Title
Life
Insurance
25.0%
Mutual
Funds
30%
Smart
Loans
0.30%
Pre Paid
Legal
$50
Long Term
Health
6.8%
Variable
Annuities
30%
SR.REP
35.0%
32.5%
0.30%
$60
10.54%
32.5%
$52/27
District
50.0%
35%
0.30%
$80
13.6%
35%
$55/29
Division
60.0%
37.5%
0.30%
$90
17%
37.5%
$57/31
Regional
70.0%
42.5%
0.30%
$100
20.4%
42.5%
$60/33
R.V.P
95.0%
62%
0.60%
$125
27.2%
62%
$85/42
1 Gen
14.5%
6.1%
0.04%
$10
3.4%
6.1%
$2/1
2 Gen
5.5%
2.6%
0.0%
$7
1.53%
2.6%
$1/.5
3 Gen
4.5%
1.7%
0.0%
$4
1.19%
1.7%
$.8/.4
4 Gen
1.5%
1.3%
0.0%
$2
.41%
1.3%
$.5/.2
5 Gen
0.5%
.8%
0.0%
$1
.14%
.8%
$.1/.05
6 Gen
0.5%
.5%
0.0%
$1
.14%
.5%
$.1/.05
REP
Auto/
Home
$50/25
Representative
$1,000
x 25%
$250 Annual Total
x 75%
$187.50 Advanced Pay
Balance of $62.50 to be paid in
three payments in the 10th 11th
& 12th month. (As Earned)
District Leader
$1,000
x 50%
$500 Annual Total
x 75%
$375.00 Advanced Pay
Balance of $125.00 to be paid
in three payments in the 10th
11th & 12th month. (As Earned)
Representative
$25,000 Investment
x .05% Dealer Re-allowance
$1,250
x 30% Commision
District Leader
$25,000 Investment
x .05% Dealer Re-allowance
$1,250
x 35% Commision
$375.00
$437.50
Initial Period
Renewal
Title
Up Front (Month 1)
(Writing Rep Only)
Months 2 - 13
Beginning
Month 14
REP
$50.00
$0.42
-
SRP
$50.00
$0.67
-
DIS
$50.00
$0.92
-
DIV
$50.00
$1.17
-
REG
$50.00
$1.42
-
SRL
$50.00
$1.67
-
RVP
$50.00
$3.75
$2.00
The Following slides include
Additional Compensation for
being an RVP!
WE GET PAID TO BUILD
D I S T R I B U T I O N!!!
The RVP Base Shop Bonus:
RVPs can qualify for one of THREE levels that pay those who grow their base shop:
15% for producing at least $5,000 in base
shop gross bonusable premium
20% for producing at least $10,000 in base
shop gross bonusable premium
30% for producing at least $30,000 in base
shop gross bonusable premium
An RVP doing $10,000 base shop
gross premium X an assumed 70%
QBI X 20% = $1,400 bonus!
An RVP who grows it to $30,000
base shop gross premium X an
assumed 70% QBI X 30% = $6,300
bonus!
The $5,000 Submitted Base Shop Gross
Bonusable Premium requirement will be
waived during the first four months after a
new RVP is advanced.
New RVPs will receive a 15% Base Shop bonus on
their actual Submitted Base Shop Net
Bonusable Premium if the Gross Bonusable
Premium is less than $5,000.
They will receive a 30% Base Shop bonus if the
Submitted Base Shop Gross Bonusable
Premium is $5,000 or above!
RVPs who focus on producing strong 1st generation
bonusable RVPs will reap the benefits. RVPs can qualify
for a 15% bonus paid on each 1st generation RVP who
qualifies for the base shop bonus:
Produce $10,000 in base shop gross bonusable premium
Qualify for a 15% bonus paid on the net bonusable
premium of each 1st generation RVP who produces a
minimum of $5,000 base shop bonusable premium
Produce $10,000 base shop gross bonusable premium and
$50,000 thru 1st gross bonusable premium
— OR produce $100,000 thru 1st gross bonusable premium
with no base shop requirement
Qualify for a 20% bonus paid on the base shop net
bonusable premium of each 1st generation RVP
who produces a minimum of $5,000 base shop
gross bonusable premium.
Goal: Become a leadership factory!
Produce $30,000 base shop gross bonusable premium and
$75,000 thru 1st gross bonusable premium
— OR produce $2,000,000 12 months cash flow and
$100,000 thru 1st gross bonusable premium
Qualify for a 30% bonus paid on the net
bonusable premium of each 1st generation RVP
who produces a minimum of $5,000 base shop
gross bonusable premium.
Goal: Build leaders like never before!
Produce $10,000 base shop gross bonusable premium and
$100,000 thru 2nd gross bonusable premium
— OR produce with $200,000 thru 2nd gross bonusable
premium with no base shop requirement
Qualify for 5% paid on your net
bonusable premium thru 2nd
Goal: Build it bigger and become an SNSD
Produce $250,000 thru 3rd
Qualify for 2.5% paid on your net
bonusable premium thru 3rd
Goal: Tap into the momentum — there are no limits to how
big you can build it!
Calculation.
The cumulative Qualifying Score of the New Representative
as of the production month end when the bonus is
calculated determines the bonus rate (“Bonus Rate”) for
the New Representative, the First Qualified Upline and
the RVP. The applicable Bonus Rate is determined from
the below Bonus Rate Chart. Then, to calculate the
Builders Track Bonus for the New Representative, the
First Qualified Upline and the RVP, their applicable
Bonus Rate is applied to the New Representative’s
personal Net Bonusable Premium for the bonus month. A
minimum Score is, however, required to participate in the
bonus, as the chart reflects.
BONUS RATES
Builders Track Scoreboard Points
New Rep %
1st Qualified Upline %
RVP %
50,000 – 54,999
55,000 – 59,999
60,000 – 65,999
65,000 – 69,999
70,000 – 74,999
75,000 –79,999
80,000 – 84,999
85,000 – 89,999
90,000 – 94,999
95,000 –99,999
100,000 +
10
11
12
13
14
15
16
17
18
19
20
5.0
5.5
6.0
6.5
7.0
7.5
8.0
8.5
9.0
9.5
10.0
10
11
12
13
14
15
16
17
18
19
20
The RVP Securities Production Bonus is a
quarterly bonus payable to the top 500
RVPs based on combined U.S. securities
production. Each of the top 500 RVPs for
the quarter will receive a bonus based on
his or her Qualifying Production
compared to the total Qualifying
Production of all of the top 500 RVPs.
Qualification and Calculation
The monthly bonus is calculated as a percentage of commissionable premium for
continued and converted coverage. The bonus percentage increases as the
percentage of policies continued or converted increases. Typically, the bonus
is calculated in the 3rd month following the policy renewal date and paid in
the next month.
Qualification
To qualify for a bonus in a particular month, an RVP must have each of the following:
• A minimum of 5 policies that have reached the end of the term, i.e., the policy anniversary(“Qualifying
Policies”). If the RVP has less than 5 Qualifying Policies in a given month, those Qualifying Policies
will be “carried forward” to the succeeding months' policy count for up to 5months following the
policy anniversary (for a total of 6 months) until there is the minimum of 5 Qualifying Policies.
However, once a policy is included in the policy count for a month in which the minimum of 5
policies is met, that policy will not be included in any future months‘ policy count (without regard
to whether any bonus was paid).
• A minimum of 50% of the Qualifying Policies for that month (including those Qualifying Policies that
have carried forward) must be continued or converted for a bonus to be payable.
• For a Qualifying Policy to be included it must be active and paid current at the time of the bonus
calculation. Policies are grouped by the month in which the policies will renew based on the policy
anniversary date.
1st Place = $500
2nd Place = $400
3rd Place = $300
4th Place = $200
5th Place = $100
Paid as a Monthly Bonus!
Paycheck Cycles
Sunday
Monday
Tuesday
$MART
GOOD
Wednesday
LIFE
PLPP
LTC
$MART
GOOD
LIFE
PLPP
LTC
$MART
GOOD
LIFE
PLPP
LTC
$MART
GOOD
LIFE
PLPP
LTC
Thursday
Friday
$MART
GOOD
LIFE
PLPP
LTC
Securities
Annuities
$MART
GOOD
$MART
GOOD
$MART
GOOD
Saturday
LIFE
PLPP
LTC
Securities
Annuities
LIFE
PLPP
LTC
Securities
Annuities
LIFE
PLPP
LTC
Securities
Annuities
25th
EARNS