Insurance agent commisiion?

Question

my boy was offered something quite strange. He will get paid 500% of the monthly premium of an insurance policy for each policy he brings to a customer. That's his job and that's how he is paid. Any idea?

Answer 1

This is not possible .There are some manupulation in the policy .May be the amount which he collected is not deposited to the insurer.Take it issue very seriously.It will be a fraud.

Answer 2

It is a lie....  no doubt.  run away as fast as you can.

Answer 3

All he's doing is delivering a policy?  I'd make darned sure there aren't drugs hidden in the packaging.  You don't make that kind of money delivering mail.

Answer 4

Are you saying he sells a policy and gets paid 5 times the monthly commission? If so everyone is missing the point If the commission is 100% of the first year annual premium his take of 5 months comes out to 41%. Nothing illegal there. Many term policies pay 100% or more.

It really depends on what he is selling and if he is selling. Please clarify if you can.