Compensation
Working with you to promote transparency
Assurant Employee Benefits is committed to full, fair, accurate, timely, and understandable disclosure of compensation paid to producers (broker, agent or consultant) in connection with business placed or retained with us. It is our belief that transparency is essential and serves the best interest of both the customer and our industry. It is the right thing to do. We also strongly encourage you to disclose to your clients compensation including any producer bonus payments received from us and discuss how the compensation received relates to their policy. Such discussions promote transparency and assist you in meeting any disclosure obligations you may have under state and federal laws.
Our policy
It has been our policy and practice to fully disclose all compensation we pay to producers including producer bonus payments and any non-monetary compensation, to our ERISA plan customers that may be required to file Form 5500, as well as to our ASO and CSO customers. We also will provide producer compensation information to any customer upon request.
Standard group commission scales*
Assurant Employee Benefits values the relationship we have with our brokers and their clients and we demonstrate that through our generous commission schedules. We are proud to have you recommend Assurant Employee Benefits to your clients when we are the right choice to meet your clients’ needs. Right choice means right benefits, right price and right service model for your client.
Without our brokers, we would be unable to deliver the products and support that your clients have come to expect. Assurant Employee Benefits products sold with a 2011 effective date offer the following commission potential.
2011 Group Commission Scales – all states except NY
2011 Group Commission Scales – NY
*These are our current standard scales. Scales may vary depending on the policy issue date.
Producer bonus program
If you are eligible to receive a producer bonus program payment, we will provide you that portion of the producer bonus allocable to each policy within your in force block of business. We encourage you to discuss the basis of the calculation and the amounts received under the producer bonus program with each of your clients as such discussions promote transparency. Learn more about the 2011 program.
For questions regarding compensation, please contact your Sales Representative or our Broker Services team at 800.708.0686.
