How is ChoiceQuoteSM compensated and how much does ChoiceQuoteSM receive?

ChoiceQuoteSM and/or its agents receive compensation, called commissions, directly from the insurance company you select. Commissions fall into two categories, base and bonus. Base commissions depend on the plan guarantee you select, e.g. 10 or 20-years. Commissions vary widely from company to company. Agent commissions can be as low as 40% or as high as 80% of the first year premium. The policy fee is excluded from commission by most companies. Agents usually do not receive commissions, called a renewal commission, after the first year for like insurance. In addition, certain companies pay a volume bonus to ChoiceQuoteSM which begins when premium volume placed with a company exceeds a certain level, e.g., $250,000 of first year premium. ChoiceQuoteSM may also earn nominal renewals to service policies such as 2-4% for five years. ChoiceQuoteSM may also receive selected other compensation for attaining a high level of placement of policies submitted for underwriting, and/or for ...  more