5. The Products & Services Colonial Voluntary Benefits products and services are offered by The Paul Revere Life Insurance Company. Benefits Counseling Insurance products Enrollment services
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10. Different Approach to the Market Commissions vary depending on your role 25% Average 36.5 – 56.5% Total Account Enroller 15% Account Coordinator 4% Account Opener 17.5% – 37.5%
11. The Compensation – Opener Commissions This is not a guarantee but for illustrative purposes only. Actual commissions will vary depending on actual results. * Our average for employee participation is between 40% and 50%. For the sake of this example, 50% is being used. 50 Employees * 50% Enrollment (Average) 25 Employees Participate $500 Annual Premium / Employee (Average) $12,500 Total Annual Premium Opener Commission (25%) = $3,125 $2,187.50 Commission Advanced (@70%) =
12. The Compensation $2,187.50 * 2 Cases / Month = $4,375 Or 24 / year = $52,500 Opener Commissions This is not a guarantee but for illustrative purposes only. Actual commissions and bonuses will vary depending on actual results.
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15. The Compensation Commission $ 52,500 New Account Bonus (YTD) $ 24,300 New Account Bonus (QTD) $ 8,100 TOTAL Commission Bonuses $ 84,900 New Start-up Bonus = $ 11,500 This is not a guarantee but for illustrative purposes only. Actual commissions and bonuses will vary depending on actual results. Total Compensation = $96,400 Total Opener Commissions
16. The Compensation This is not a guarantee but for illustrative purposes only. Actual commissions and bonuses will vary depending on actual results. Total Opener Commissions If you only achieve ½ the production used in the prior example and open 12 cases with $130,000 in premium: You Qualify for Leaders Conference.
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23. Renewals and Re-enrollment The Compensation – Opener Commissions This is not a guarantee but for illustrative purposes only. Actual commissions will vary depending on actual results. TOTAL = $29,400 Renewals = $8,400 Rework = $21,000 Renewal: for an Opener (Average) = 4% 4% * $300,000 = $12,000 Average renewal premium collection rate * 70% = $8,400 Re-enrollment: 40% of 1 st Year Premium (Average) 40% * $300,000 = $120,000 * 25% = $30,000 Colonial advance rate * 70% = $21,000
24. The Compensation * Actual commissions and bonuses will vary depending on actual results. Model was based on 24 new accounts opened, average number of 50 employees each, 50% penetration and an average monthly sales premium per payor of $40. Commissions and bonuses 5 Year Rep Compensation* Year 1 Year 2 Year 3 Year 4 Year 5 $96,000 $108,000 $130,000 $152,000 $173,000