Compensation for Dearborn National® Life Insurance Company
We are committed to providing the compensation disclosure information you need to appropriately advise your customers.
Commission Payment Details
Commission payouts are affected by the following thresholds:
- The minimum commission payment threshold is $500.00 for checks.
- The minimum commission payment threshold is $10.00 for Electronic Funds Transfer (EFT).
Commission earnings not exceeding the above mentioned amounts will be held until additional commissions are earned to surpass the minimum payout amount.
Commission Payment Example
For a commission period, $200.00 of commission is earned by an agent that is paid by check. A commission check will not be issued. Instead, the earnings will be held until additional commissions are earned and it surpasses $500.00. During the next commission period, $400.00 in commissions is earned. At the end of that period, a check for $600.00 will be issued.
For commissions received via EFT, the same principal applies only the earnings threshold is $10.00.
The Benefits of EFT
EFT is a convenient service we offer our Producers. Consider these advantages:
- You’ll receive your commissions sooner via EFT.
- Commissions paid via EFT have a lower minimum payment threshold.
- Your commissions will be conveniently deposited into your bank account.
Simply complete a Commission Electronic Funds Transfer Form and return it to our Administrative Office along with an unsigned, blank voided check or savings deposit ticket.
Commission Statement Walk-through
View a standard commission statement from Dearborn National® Life Insurance Company along with field definitions.
* Commission schedules vary by State.