Recent Commission Changes
Over the past several months the Annuity Industry has been evolving rapidly as carriers react to economic pressures. Changes in product offerings, commissions, and company practices have shifted to meet the various needs of the carriers in order to adjust their business model to fit their overall objectives. Some carriers have even exited the business for the time being.
Most recently Allianz announced a change to their Master Dex X commission. The commission changes makes way for a positive increase to the bonus offered to the customer. While they are not the first carrier to reduce commissions or make changes to how they pay their commission, they are the most recent in a string of carriers making such changes.
While we individually communicated each of the following changes to a field distribution partners, AMZ Financial Insurance Service thought that it may be prudent to recap the changes that have occurred in the past 60 days regarding insurance carrier commission changes. The carrier’s formal announcements (where available) have been compiled as well so that you have all of the most current information at your finger tips regarding this important topic.
| Carrier | Product | Recent Changes |
|---|---|---|
| Allianz | Master Dex X | Lowering first year commissions by 1% effective July 21st to make room for product improvements |
| ING | Secure Opportunities Plus | Lowered first year commissions by 1% on June 1st |
| American Equity | All Products | Began paying Commission over 3 years on June 1st |
| Forethought | Most Products | 50 Bps decrease on most products effective July 7th |
We understand that you have many choices when placing your annuity and life insurance business, and we thank you for giving us the opportunity to earn it.
For any questions, please contact Mark Triplett at (866) 204-7712 x106.