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

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Anonymous

23 Jul 2020

Insurance

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

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

Discussion (4)

What are your thoughts?

Tan Li Xing

Tan Li Xing

23 Jul 2020

Financial Consultant at Prudential Assurance Company (Singapore)

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.

Loh Tat Tian

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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