paulallred
Super Genius
- 117
Hello Everyone, can anyone tell me with a certain amount of accuracy the highest levels of compensation an IMO receives for WL contracts, particularly Penn Mutual?
Thank you!
Thank you!
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Just curious.. Unless you are an IMO, what difference does it make the highest level and IMO can receive. Your concern should be what is the highest level you can receive..Hello Everyone, can anyone tell me with a certain amount of accuracy the highest levels of compensation an IMO receives for WL contracts, particularly Penn Mutual?
Thank you!
Thank you pfg1.
I appreciate you offering a direct answer and not trying to offer unsolicited and unwanted advice.
I've been hearing in the neighborhood of 130% for IMO's with proven production.
i'm appointed with PM, the most you can usually get is 90%, they use a regional distribution offices for contracting....our particular office has a backlog of about 70 agents, and they are only appointing 2-3/week.Hello Everyone, can anyone tell me with a certain amount of accuracy the highest levels of compensation an IMO receives for WL contracts, particularly Penn Mutual?
Thank you!
I have an SMA (special marketer agreement) with them and it's for 95% as well. Even IMOs like CRUMP only offer 80-85% to the agent with Penn as a max so I'm guessing you're right pfg1.Penn pays less than most other carriers. I think the max is 95% that they will pay out at the top to an IMO and I believe most don't even get that much (probably most get 90%). Most agents get 85% and can go through through an IMO or go direct.
They aren't designed for the agency system big overrides like alot of other carriers.
Companies like NA, LSW, etc... they have substantially higher top for IMO's and are built for that type of setup. One IMO I know told me they like Penn alot, but don't push agents to use them because they only make 5pts on the business.
I remember Lafayette Life having pretty high IMO levels. I don't know if their product is any good though.Thank you everyone!
I suppose I need to consider another WL company(ies)
Would anyone please make suggestion to higher Comp paying carriers and/or IMO's?