NDA Organization Bonus percentage based on production from entire organization of the first NDA in every hierarchy. NDA's in each hierarchy receive production credit on every downline NDA in their organization. An NDA receives 100% production credit on their direct downline NDA's production. As production credit moves up through the upline NDA's it is reduced by 25% at each level. Production credits are added together and each NDA receives their portion of the bonus based on their percentage of production credit.
Please Note: NDA Organizational Bonus applies to AIG/American General and HBW's Fixed Annuity Division Only.
EVP Bonus Schedule
Annual EVP Bonus Compensation Schedule
Annual Bonus Levels
$100,000 - $249,999 = 1%
$250,000+ = 2%
Guidelines:
Based on paid premium from AIG / American General only and paid semi-annually
- After the first 6 months of a calendar year, if an EVP has an organization that has produced a minimum of 50% of the required annual premium to receive a bonus, the EVP will receive a bonus based on 50% of the attainable bonus level. If an EVP has an organization that has produced a minimum of 100% of the required annual premium to receive a bonus, the EVP will receive a bonus based on 100% of the attainable bonus level.
- At the end of a calendar year, if an EVP has an organization that has produced 100% of the required annual premium to receive a bonus, the EVP will receive a bonus based on 100% of the attainable bonus level. -- minus what has already been paid.
- The Bonus based on semi-annual production will be paid within 90 days following the semi-annual cut-off date.
- The Bonus based on annual production will be paid within 90 days following the year-end cut-off date.
- Must maintain acceptable persistency and placement ratios to qualify.
- If an EVP qualifies for a mid-year bonus, but does not achieve the required annual total, there is no chargeback.
- NDA's qualify in their EVP organization only, separate from their other EVP's and NDA's.
- Bonus compensation is subject to change or modification at HBW's discretion.
Examples:
- If you have $125,000 of Paid Premium through June 30th, you are on pace for $250,000, which would be a 2% bonus. 50% of the attainable bonus level is 1%. $125,000 x 1% = $1,250.00 Bonus.
- If you have $250,000 of Paid Premium through June 30th, you are on pace for $500,000, which would be a 2% bonus. 100% of the attainable bonus level has already been reached. $250,000 x 2% = $5,000 Bonus.
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Base Shop Bonus Schedule
Annual Base Shop Bonus Compensation Schedule
Annual Bonus Levels
$100,000 - $249,999 = 5%
$250,000 - $499,999 = 7.5%
$500,000 + = 10%
Guidelines:
Based on paid premium from AIG / American General only and paid semi-annually
- After the first 6 months of a calendar year, if an AVP, EVP or NDA has a base shop that has produced a minimum of 50% of the required annual premium to receive a bonus, the AVP, EVP or NDA will receive a bonus based on 50% of the attainable bonus level. If an AVP, EVP or NDA has a base shop that has produced a minimum of 100% of the required annual premium to receive a bonus, the AVP, EVP or NDA will receive a bonus based on 100% of the attainable bonus level.
- At the end of a calendar year, if an AVP, EVP or NDA has a base shop that has produced 100% of the required annual premium to receive a bonus, the AVP, EVP or NDA will receive a bonus based on 100% of the attainable bonus level -- minus what has already been paid.
- Bonus based on semi-annual production will be paid within 90 days following the semi-annual cut-off date.
- Bonus based on annual production will be paid within 90 days following the annual cut-off date.
- Must maintain acceptable persistency and placement ratios to qualify.
- If an AVP, EVP or NDA qualifies for a mid-year bonus, but does not achieve the required annual total, there is no chargeback.
- Bonus compensation is subject to change or modification at HBW's discretion.
Examples:
- If you have $50,000 of Paid Premium through June 30th, you are on pace for $100,000, which would be a 5% bonus. 50% of the attainable bonus level is 2.5%. $50,000 x 2.5% = $1,250.00 Bonus.
- If you have $100,000 of Paid Premium through June 30th, you are on pace for $200,000, which would be a 5% bonus. 100% of the attainable bonus level has already been reached. $100,000 x 5% = $5,000 Bonus.