Equitable Life Group Benefits Bulletin - Group Advisor Bonus EnhancementAnnouncing our Enhanced Group Advisor Bonus Program
We have enhanced our Group Advisor Bonus program to make it more competitive and to help support you in building your business with Equitable Life in 2022. We have updated the structure of the bonus program to make it easier for you to qualify, as well as increased the amounts we pay.
Beginning for sales effective in 2022 we have:
- Decreased the minimum premium required to qualify for the Sales Bonus to $35,000 from $150,000.
- Moved away from using Graded Annualized Premium for both the Sales and Persistency Bonus and are using actual Annualized Premium instead, up to a maximum of $500,000 per policy. This simplifies the program and aligns us with the rest of the industry.
- Increased the Sales Bonus payout to up to 5% of Annualized Premium for Traditional Sales and up to 3% of Annualized Premium for myFlex sales.
- Changed the minimum annual premium threshold for the Persistency bonus to $500,000 of capped Annualized Premium from $500,000 of Graded Annualized Premium to make it easier for you to qualify.
These enhancements do not apply to advisors who are not part of our standard Advisor Bonus program and who have special bonus arrangements in place. If you have a special bonus arrangement in place and would like to switch to the standard program, please contact your Group Account Executive or myFlex Sales Manager.
Below is a table comparing the current Sales Bonus structure and payout. For full details, please refer to the Group Advisor Compensation and Recognition brochure.
Enhanced Sales Bonus
For the new Sales Bonus, the Payout Band is based on total combined Traditional and myFlex Benefits new annualized premium (capped at $500,000 per policy). The Sales Bonus Rates for both Traditional sales and myFlex sales are shown in the table below:
|New Sales Bonus Rates|
|Payout Band||Capped Annualized Premium*||Sales Bonus Rate
(from first dollar)
|Traditional Sales||myFlex Sales|
|1||$34,999 and under||0%||0%|
|2||$35,000 to $99,999||3.5%||1.5%|
|3||$100,000 and over||5%||3%|
|*Total Traditional and myFlex new business sales combined, capped at $500,000 per policy.|
If you have any questions about the Advisor Bonus enhancements, please contact your Group Account Executive or myFlex Sales Manager.