Agents

MDRT – Million Dollar Round Table mdrt.org/ mdrtacademy.org/en-US/membership/ youtube.com/@MillionDollarRoundTable/videos 1999 – Book – MDRT – Million Dollar Closing Techniques – 2021 1208 – MDRT – Massive goals build success – [VIDEO-YouTube-03:51] 2020 – Million Dollar Round Table – 10 minutes of favorite sales ideas from two industry greats – [VIDEO-YouTube-11:20] three buckets Cash Value Life Insurance We…

Conflict of Interest 1966 – LR – The Unauthorized Practice of Law by Laymen and Lay Associations, by Loyd P. Derby – 34p 2005 – LR – The Dirt on Coming Clean, When rendering legal advice to customers, life insurance salesmen have a conflict of interests—they are interested in setting up an estate plan with…

Compensation Bonuses Charge Backs Commissions Fee For Service Fee Only Flexible Compensation Overrides Target Premium Trips, etc 1986 – SOA – New Forms of Agency Compensation — Impact On Product Design And Company Profitability, Society of Actuaries – 42p

Independent Contractors NAIC – captive vs. independent agents – naic.softlinkillumin.net/knowledgebase/#/question/128992′ Number of agents: 422,600 total insurance agents in the US (2021) 41,290 total in California Data from BLS Captive agents – employees or contractors? In 2019, the 6th Circuit held that American Family agents were independent contractors based on the Supreme Court’s Darden standard. This essentially considers “the hiring…

Agent – Failure Rate 1962 – SOA – Discussion of Subjects of Special Interest: Agency Compensation, Society of Actuaries – 11p 1962 – SOA – Discussion of Subjects of Special Interest: Agency Compensation, Society of Actuaries – 11p (p5) – Russell R. Jensen: We have not seen much change in agent turnover recently at Northwestern…

New Agents Failure Rate / Retention Rate Financing Source Training A. What methods of subsidizing new managers or general agents are being used in scratch agencies and established agencies? What type of performance standards are required in determining when a new man should receive an increase or decrease in compensation or be terminated? B. Is…

Chargebacks Perhaps the most common criterion today to measure an agent’s performance during his financing period is the net annualized premium or commission. Under this method the agent receives a validation credit for the annualized amount, regardless of premium frequency, but is debited with a portion of his annualized credit in the case of a…

Agent – Lead Generation 2023 1213 – Press Release – FCC – FCC Adopts New Rules To Close The ‘Lead Generator’ Robocall And Robotexts Loophole And Facilitate Blocking Of Unwanted Robotexts, Federal Communications Commission – [link] — 2p 2023 1212 – Reuters – New FCC rule on lead generation expected to spur wave of lawsuits,…

Agents – Specific Mark K. Mason – Equitable Life Assurance Society Rick Urso – Metropolitan The Equitable Life Assurance Society and the head of its Miami office have been accused by a former agent of attracting agents with false promises and teaching them to sell life insurance through misleading statements to potential customers. The…

Agent Statements – Walker v LSW I tell clients that the cash value is guaranteed not to go down when the market goes down because the cash value has a 0% annual floor. — Declaration of Sean L. Covi, Agent – Doc 258 – 2010 0710 – 11p 2000s – LC – Walker v LSW (Life…

Conflicts of Interest

Agents – Specific

Agent Statements – Walker vs. LSW