Life Carrier Commission Payout/Cut Off Dates
American General- pays bi-weekly for paper checks. Money must be applied by last working day before the next pay. For EFT, they are paid weekly and money must be applied by Friday. Wednesday is the deposit. Minimum check amount is $50
Axa-Equitable- Premiums must be in by Thursday. Commissions for paper checks will pay out the following Friday. EFT deposits will go in that Friday also. First year compensation is held until total reaches $250. If you don’t reach the minimum by the end of the 2nd and 4th quarter, they pay out automatically.
Banner- pays on the 10th, 20th and last day of the month. Must have commission money in house no later than Wed. of that weeks run. Minimum check amount is $50. EFT pays however agent chooses- daily, weekly, bi-weekly, monthly or standard (every 10 days).
Equitrust- EFT pays out daily. Paper checks are processed weekly and are mailed on Mondays. Minimum check amount is $50.
Genworth- pays weekly for EFT and quarterly for paper checks. Money must be applied by Wed. of that week. Minimum check amount is $50
ING Life & Annuity- Weekly payout. Checks mailed on Thursdays and EFT done on Friday. Minimum check amount is $25
John Hancock- checks go out weekly on Tuesdays. EFT is deposited the following Wednesday from that weeks comp run. Minimum check amount is $50
Lincoln Benefit- pays weekly and cut off is Wednesday. Checks are mailed Monday. EFT goes in on Mondays. Minimum check amount is $50.
Lincoln Financial- Weekly or bi-weekly depending on product. Checks mailed on Mondays. EFT is only for JP product line and new unified products. Cutoff is Friday and EFT goes in following Thursday. Minimum check amount varies. Term is $25, JP is $100-150, UL &VUL is $125, annuity $150.
Metlife- pays quarterly for paper checks . EFT cutoff is on 15th and last day of month. 4 business days after cutoff date the money is deposited. Miminum check amount is $100 for paper checks.
Presidential- Pays weekly on Thursday and mailed on Friday. Minimum check amount is $25. EFT pays every Friday and hits agents account Monday.
Prudential- Pays weekly- Friday is cutoff for premiums received. Checks mailed tuesdays. Minimum check amount is $50. EFT will be in account by that Friday.
Reliastar- EFT is weekly- cutoff is Friday and goes in account on Monday. Bi-weekly is for paper checks and cutoff is Friday. Check goes out on Monday. Minimum check amount is $20
Transamerica- Checks are Bi weekly. Cutoff on Friday and mailed on following Wednesday. EFT deposited on Thursdays. Minimum check amount $100.
United of Omaha- Weekly. Premium applied by Monday. Run is on Tuesdays and Thursday mailed. EFT in account on Friday. Minimum check amount is $50. EFT minimum is $25.
West Coast- pays on the last day of the month for paper checks and for EFT its weekly so they must have commission money by Friday. Tuesday is the deposit. Minimum check amount for paper checks is $250.
