Please read this important information about the Premium Rewards Producer Bonus Program.
Our program rewards you for the block of business you maintain with The Standard, as well as for placing new clients with us. As outlined in the chart below, the Persistency Bonus increases as you retain and grow your inforce premium with us.
Eligibility: A minimum of three group Life and/or LTD cases inforce on December 31, must remain inforce on December 31 of the following production year, and assigned to you as the producer of record during the period (case eligibility is determined by The Standard). Persistency Bonus includes only fully insured group cases on which The Standard is paying commissions.
Exclusions: Cases that transfer from a producer and are retained by The Standard are excluded from the Persistency Bonus calculation but included in the Block Retention calculation. Cases that transfer to a producer during the year will not be included in either Block Retention or Bonus calculations for that year. ASO, ATP, Select Claim and non-commissioned plans are excluded. The Standard SelectSM, Standard Select Trust (SST®) and Quality Group Benefits Trust policies are not included as they have separate bonus plans.
Note: Existing business that you maintain with our sister company, The Standard Life Insurance Company of New York, will be combined with your Standard Insurance Company inforce business for the purpose of calculating your bonus. However, separate checks will be drawn from each company based on the bonus calculations.
| 12/31 In force Premium | Block Retention 91.0-94.9% | Block Retention 95.0-98.9% | Block Retention 99.0+% | New Business Bonus Qualification Required |
|---|---|---|---|---|
| $100,000 | .60% | .70% | .80% | Yes |
| $250,000 | .60% | .70% | .80% | No |
| $500,000 | .75% | .85% | .95% | No |
| $1,000,000 | .90% | 1.00% | 1.10% | No |
| $2,000,000+ | 1.05% | 1.15% | 1.25% | No |
The Standard reserves the right to change the bonus program at any time.