My insurance agent tells me that agents selling term life insurance earns more commission than whole life policy. Is this true?

Hi Anon,

I don't think that is the case. As different policies have different structures set in the place by the insurer. And usually recommended products should tie in with your needs and budget, if it doesn't then it might be better to a 2nd opinion from another agent.

It depends on what you are looking at.

In terms of absolute amount, whole life likely higher due to the premiums paid.

In terms of % commission, term life likely higher because 40% is higher than 30% generally

So it depends on what you are looking at, and the premium amount.