No bonus to agent for selling every year????

Question

No bonus to agent for selling every year????

Answer 1

Well, if you are talking about an employee of an agency, you may or may not get a bonus at the end of the year, depends on the agency.  My first agency, nothing, my second $500, my third a gift certificate (now $75) to a local restaurant that we insure commercially.  My husband who is not in the business, he is in manufacturing, gets 2 good bonuses per year.

If you are talking about a contingency check to the agency from the company, the agency as a whole has to have this written into their agency contract, the agency has to meet or exceed certain goals for production & growth (most of our companies require 3-4% depending on our premium volume), has to have & maintain a certain amount of written premium and has to have a loss ratio of usually less than 50%.

We as employees see none of this money even though they tell us what a wonderful job we do to get it & then we only get our standard 3.5-4% raise every year.

So, welcome to the world of an insurance agent!!

Answer 2

all depends on the company and your production

Answer 3

do you have a contract stating the you are entitled to a bonus?  if not, then what's the problem.  i don't understand why people who work for someone else expect a bonus for their job.  when you took the job, you agreed to do the work for a specific amount of money so technically--a boss doesn't owe you a bonus.  unless it's written  in your contract.

Answer 4

Well, I never received a bonus every year for doing my job. I have received incentives for reaching or exceeding production levels. These are great perks like cash and gift cards. Depending on the company you write for, there are also annual conventions where the top producers and their spouses are invited for a 3-5 day all expense paid trip to an awesome exotic location. These trips are great and no expense is spared by the company. If you are not being offered incentives or your company does not hold a  convention I would seek employment elsewhere.