Help Producers Reach for the Renewal Bonus

September 4, 2019

We want to reward your top producers selling The Standard. That’s why we created the Platinum Advantage Producer Renewal Bonus. With summer coming to an end, now's the perfect time to encourage your producers to reach the bonus program thresholds.

How the Bonus Works

Bonus Level 1: A producer who sells — and places — $25,000 in fully underwritten annual premium with The Standard in 2019 will receive an extra 5% renewal commission in years two through 10 on all Platinum Advantage fully underwritten polices. And they’ll receive a 2% service fee on those policies after year 10.

Example: A producer who places $25,000 in fully underwritten Platinum Advantage premium in one year would earn an additional $11,250 in bonus commissions through year 10.

Bonus Level 2: If that producer reaches $50,000 in sales, the bonus jumps to 10%. This is on top of the base renewal commission the producer already receives, bringing total renewal commissions from The Standard to 15%.

Example: A producer who sells $50,000 fully underwritten Platinum Advantage in one year would earn an additional $45,000 in bonus commissions through year 10.

All new fully underwritten premium — including increases and for any product — counts to qualify for the bonus!

Bonus Qualification Reports

We’ll send you a producer renewal bonus qualification report this week. It shows producers within striking distance of achieving the bonus. Remind your producers that they can lock in more trailing commissions by reaching $25,000 or $50,000 in placed premium. The Platinum Advantage Producer Renewal Bonus flyer can help explain program details and showcase how much they could earn.

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