david_lewis
New Member
- 19
Thought I would bump this thread as well as throw in some updates I just found out.
After 20 years in the business, I just joined a producers group. The main reason for this groups existence, outside of providing some high-end study-groups and a national meeting of it's 240 member firms, is to get members that exact same payouts as the top IMO's get from their carriers. It's a large annual membership fee but the juice is worth the squeeze for me.
Anyway, I can attest that that absolute highest top compensation that Penn has built into their contract is 110% for whole life, IUL, term, and UL, which is what I am now getting. For those that over-fund every permanent contract like I do, Penn is one of the highest on "excess" at 5.5% for IUL and 6.6% for whole life. Term pays a 3% for 5 year renewal, which is a little quirk within the term market, and takes term comp to 125% over 5.
I realize I'm bumping an old thread. Would like to talk more about these agent groups. Sent you a PM.
Also, what are your current thoughts about Penn Mutual?