Walsh Benefits - Carrier Facts

Guardian Defines Their Special Producer Compensation Program
11/21/2008 [View File]

Our Special Producer Compensation program provides additional compensation to brokers and agents who place business with Guardian. The accompanying PDF illustrates how SPC payments are calculated.

2.) What improvements are being made to the program?The following improvements will be effective for plans issued or renewed on or after January 1, 2009:

· New business points are determined by the original number of lives on the plan. Renewal points will be based on 9/30/09 inforce lives. In both cases, they must remain inforce on 12/31/09 (for non-medical and medical) to be eligible for bonus.

· For brokers who were not in SPC for the prior two years, we will have a new, lower qualification level of 20 new business points, referred to as the Bronze Alternative. (non-medical SPC)

· New business points per coverage will increase for cases with 100+ lives, rewarding brokers who bring in larger cases. (non-medical SPC)

· A new bracket will be created for cases with 2-15 lives, our Small Group Sales size range, to motivate brokers who work with small employer groups. (nonmedical SPC)

· Tracking and reporting of SPC persistency will be enhanced to include coverage level reporting with current status, and estimated SPC compensation by line of coverage (non-medical SPC)

· Critical Illness will be added as a line of coverage in 2008 and will qualify for SPC payment starting with 2008 effective dates.

3.) When will these changes be in place?

All of the changes are effective January 1, 2009 with the exception of Critical Illness which is effective beginning in 2008. These changes will not be reflected on Guardian Anytime until the end of the first quarter 2009.

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