23 Jul 2020
My insurance agent tells me that term life insurance earns more commission than whole life policy. Is this true?
Tan Li Xing
23 Jul 2020
Financial Consultant at Prudential Assurance Company (Singapore)
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.
Loh Tat Tian
22 Jul 2020
Founder at PolicyWoke (We Buy Insurance Policies)
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.
Differs from insurer to insurer, there is no difference from the insurer I represent. Both provide t...
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