Check your paycheck every Thursday morning here: ICM Pay Management

💌 Compensation Directory Emails: https://www.planetaltig.com/Document/Download/21206

PAY SCHEDULE

We get paid every Friday — weekly direct deposit.

Wednesday at 2pm EST is the cut-off for verifying business for Friday’s pay. It is CRUCIAL to check AWS to see what policies still need verified by Lenore. Standard policies will be paid out on Friday. Trial policies will be paid out once the policy is approved.

HOW COMMISSION & ADVANCE WORKS

Every new agent starts at a 50% commission rate, with increases as you stay within the company.

Let’s break that down:

• When you close a policy, the value of that sale is called ALP (Annualized Life Premium).
• You earn 50% of the ALP as your total commission.
  • Once you are with the company for 60 days, or you sell $15k ALP (whichever comes first), your commission goes up to 60% (see photo above)
• You receive 65% of your commission up front. This is called an advance.
  • The remaining % of the advance and the remaining ALP is paid out slowly after 4 months as the client makes their payments and stays active.

Example:

You close a $1,000 ALP policy.

Your 50% commission = $500.

On your paycheck that week, you’ll get 65% of that = $325 up front.

The other $175 will be paid out over upcoming months.

CHARGEBACKS

The first 4 months of a policy is the timeframe where you are at risk for chargebacks.

If a client cancels within the first 4 months of their policy, you will owe the advance back to the company, which will come out of your next paycheck. After the 4th month, you will not have to pay back the advance, and will not receive the additional commission or residual income.