This article explains how to set up Global Atlantic's (Preneed) hierarchy and commissions schedules. Please review the following information to learn some general guidelines on Hierarchy settings and instructional steps that explain how to set up commission grids allocated to your agency by Global Atlantic.
You'll learn how to setup multiple schedules to accommodate your most common commission allocations. There are no limits to the number of schedules created You can create as many schedules as needed.
Having prepared templates, you intend to use often, will provide your Contracting Administrators with a tool to simplify their working steps.
PLEASE NOTE: The "Global Atlantic (Preneed)" carrier MUST be activated in your carrier settings before Global Atlantic can allocate any preneed schedules to your account.
Topics:
- Setting up Schedule Settings
- How to Review and Process a Contract
- How to Manage Requests Using your Work Inbox
Setting up Schedule Settings:
- Log in to SureLC as an agency admin, then select the "Carriers" page from the menu.
- Search and select the carrier from the "Selected Carriers" list.
- Select the "Hierarchy & Commissions" tab
A.) Hierarchy Settings:
There are two Hierarchy grids under Global Atlantic (Preneed). Each are designed to setup the unique hierarchy requirements by product category.
- Preneed Whole Life
- Preneed Annuity
Within each of the Hierarchy grids you'll designate who will be paid from the Downline Producer's business and what percentage of the total each will be allocated.
Keep in mind these are just schedule templates. They will be used to fill in data and eliminate the need to type it out repeatedly within each request.
Schedule templates can be as broad or granular as you would like. They are flexible, and can be modified on the fly within each request to add or remove hierarchy data as needed.
- Start by deciding if you want this to be your primary DEFAULT schedule, or if you would like to create multiple schedules, each uniquely named.
The Default schedule is simply the landing schedule within each request you process.
If you would like to create a uniquely named schedule, select the "New Schedule" button and give it a name. Select the "SAVE" button when your done.
- Enter the "General Agent" information in the top row. Enter the Name, Agent/Agency Number, and % of Total commissions designated to the General Agent.
- Enter any other Hierarchies below from High to Low.
- Designate a percentage in the last row for the "Direct Paid Agent". Or you can leave that blank and fill it out on the fly within each request.
- For Preneed Whole Life products the total percentage designated to the Producer and all hierarchies must add up to 100%. Alerts will help you identify when the total falls outside 100%.
PLEASE NOTE: The percentages are relaxed when creating an override schedule. The rule is only enforced for Agent schedules.
- For Preneed Annuity there's only 1% to designate to one particular person in the hierarchy. Alerts will help you identify when the total falls outside the guidelines.
B.) Commission Grid Settings:
Commission Grids are provided by the carrier directly into your SureLC account. They'll assign your agency all approved products with your Totals allowed.
Commission Grids will be separated by approved Product Suites, such as:
- Advance 6X
- Encore Advance
- NJ Maxima
- WA Maxima
The goal is to create commission grids you intend to payout from the total percentages provided by the carrier.
Below is an example of what your starting commission grids may look like. They'll list the Product Suite, approved products within each suite, along with your Agency's writing number. Once you select a specific product, the grid will expand with your Totals.
- Product - Select a product from one of the grids.
- Schedule Type - Choose a Schedule Type (Agent or Override)
- Payout Percentage - Enter a Payout %. This will calculate a percentage of the Total you want to payout to your Producer. The calculations made here in the Product grids will map to the commission schedule provided in the contract package.
- Apply - Select the "APPLY" button to save the Payout Percentage chosen.
PLEASE NOTE: Only one product can be selected per schedule.
WA Maxima (If it's an approved product for your Agency's agreement) is the only exception to the rule, where you can select WA Maxima along with one other product combined in a single schedule.
C.) Upline Signature Settings:
Upline signatures can be preset, on a per schedule basis, to designate the person who will be signing as the General Agent on the Carrier's forms. This will eliminate extra steps needed by your Contracting Administrators.
- Within your Carrier settings select the Commissions & Hierarchy tab
- Scroll down to the "Signatures" section
- Click into the General Agent "Name" field
- A search window will open. Start typing the name of the person that will sign as the "General Agent".
- Once found, choose the "SELECT" button.
PLEASE NOTE: If the name is not found, that signor person may not be registered in your SureLC account. CLICK HERE for an article that describes how to register a producer.
D.) Preview Schedule Settings Mapped to Forms:
To preview how the hierarchy and commission data will be mapped to the carrier's forms, scroll down the page and select the preview button.
You can preview the hierarchy Transmittal and commission schedules to ensure that the entered data maps to the carrier's forms as expected.
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If you need additional assistance contact SurancBay's Support Team at support@surancebay.com.
Thank you.
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