| As
a % of AGENCY BUILDER SYSTEM, INC’S Commission. |
| |
|
|
|
| Writing
Agent’s (AGENCY BUILDER) Commission.
. . . . . . . . .. . . . . . . |
75% |
| This
commission would be rounded up to .
. . . . . . . . . . . . . . . . . . . . . . |
105% |
| |
|
|
| Example:
ABS, INC’S Commission with one Company is.
. . . . .. |
139% |
|
The
AGENCY BUILDER’S (Agent’s) Commission
would be
75% x 139% or. . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . |
104.25% |
|
| The
General Agent Commission with this company is. .
. . . . . . |
105% |
|
| Commission
is paid to the AGENCY BUILDER directly from the
insurance company. |
| |
|
|
|
| AGENCY
BUILDER OVERRIDES*. . . . . . . . . .
. . . . . . . . . . . . . . . . . . |
15% |
| This
would be rounded down to
. . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . |
20.10% |
| |
|
|
|
| Example
company above. . . . . . . . . . . . . . . . . .
. . . . . . . . . . . |
139% |
|
| Amount
paid to OVERRIDE account would be 15% x 139% or |
|
20.85% |
| Total
commission allocated to writing AGENCY BUILDER and
OVERRIDES is 90% of AGENCY BUILDER SYSTEM, INC.’S
Commission. |
| |
|
|
|
RESERVES**.
. . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . |
3% |
| To
help with expenses for SYSTEM WEB SITE, SYSTEM TECHNICAL
SUPPORT and SYSTEM . ACCOUNTING. Any excess RESERVES
go toward BONUSES |
| Amount
paid to RESERVE Account would be 3% x 139% or
. . . . . . . . . |
4.17% |
| |
|
|
|
REGIONAL
and TERRITORY MANAGERS***
. . . . . . . . . . . . . . . . . . . |
2% |
Amount
paid to REGIONAL and TERRITORY Account would be
2% x 139% or . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . .
|
2.78% |
| |
|
|
|
BONUSES**
. . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . |
1.25% |
| Amount
paid to the BONUS Account would be 1.25% x 139%
or . . . . . . |
1.74% |
| |
|
|
|
EXPENSES**
. . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . |
1.25% |
| For
SYSTEM WEB SITE, SYSTEM TECHNICAL SUPPORT and SYSTEM
ACCOUNTING. |
|
| |
Also
. . . . . . . . . . . . |
1.74% |
| |
|
|
|
AGENCY
BUILDER SYSTEM, INC**** .
. . . . . . . . . . . . . . . . . . . . . . .
. |
2.5% |
| |
|
or |
3.48% |
Amount
paid to AGENCY BUILDER SYSTEM, INC.’S General
Account is 2.5% of 139%.
This account pays for advertising, telephones, office
staff other than SYSTEM WEB SITE, SYSTEM ACCOUNTING
and SYSTEM TECHINICAL SUPPORT, rents, travel, meetings
and general operating expenses. |
|
| |
|
|
|
| Total
commission payout is . . . .100%, or with the above
company . . . 139% |
| |
|
|
|
*A
special “lock box” bank account is set
up and can only be paid out as overrides or bonuses.
**A special “lock box” bank account
is set up. Excess expenses or reserves add to bonuses.
***A special “lock box” bank account
is set up for Regional & Territory Managers.
****General bank account. |
| |
|
|
|
