August 3, 2022
As previously communicated, compensation for our Guaranteed Issue Whole Life product is now being calculated and paid only on an “as-earned” basis. This change is now in effect and will be reflected on this current commission run, uploaded to your bank for distribution on August 5.
As a reminder, here is what you need to know:
- There is absolutely no change to the total amount of compensation paid out to you and your agents. This only removes the option for advanced comp for this product.
- This change only affects the Guaranteed Issue Whole Life product and will not affect compensation/advancement for any other Sons of Norway product(s).
- If you are already compensated “as-earned”, nothing will change.
- This is designed to help protect you from large charge-backs and the associated debt with a high turnover Guaranteed Issue product.
- This current payment cycle ending 7/31/22, distributed on 8/5/22, will be the first payment to reflect these changes.
- This does not impact any policies issued on or before 7/15/22.
We greatly appreciate your continued support and partnership as we look to both ease the concerns of our partners and make the best business decisions to help us in our journey to be the premier insurance carrier you deserve.
Should you have questions about your specific compensation rates, please see your Agency/Up-line.
If you have further questions, please call the Sales Team at 833-707-0012 opt. 2.
Your Sons of Norway Insurance Services Team
1 (800) 772-6881 x7731 | firstname.lastname@example.org