Levelized commissions: the question isn't 'if' but 'when.'

Article Abstract:

Insurers may soon institute a levelized insurance agent compensation structure to help alleviate the public backlash resulting from misconduct problems. A levelized system will also reduce an agent's upfront fees and encourage better agent retention. However, some in the industry believe that changing the compensation structure will not end problems such as churning. Companies that have begun using a levelized commission structure include Acacia Mutual Life Insurance Co, Prudential Insurance Company of America and Metropolitan Life Insurance Co.

Insurance Agencies and Brokerages, Insurance agents, brokers, & service, Insurance Agents & Brokers, Compensation and benefits, Insurance agents

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Higher-end products spur mutuals' growth

Article Abstract:

The average size of life insurance policies sold increased in 1993. The average life insurance policy was worth $76,133, an increase of 4.6% over the average size of a life insurance policy sold in 1992. The average life insurance policy size of mutual life insurance companies reached $106,790 an average increase of 8.3% over the average life insurance policy sold in 1992. This increase could have been caused by the sale of variable survivorship life insurance, a higher-end product, by mutual insurance companies.

Marketing

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Viatical firms fighting outlaw image

Article Abstract:

The Viatical Association of America and other industry groups are trying to polish the tarnished image of viatical companies through licensing and the adoption of model laws. Viatical settlement firms have a negative image because of the fraud associated with them. The Viatical Assn requires member firms to comply with a National Assn of Insurance Commissioners model act that includes licensing, advertising and reporting rules. Licensing is required of viatical firms in 12 states.

Laws, regulations and rules, Viatical settlements

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