End-of-Year Reminders

November 19, 2024

As the end of the year rapidly approaches, please keep these key dates in mind. Below you’ll find dates that impact your commission and delivery cutoffs, as well as The Standard’s schedule for holiday closures.

End-of-Year Commission Cutoff Date

The year-end commission cutoff date will be Friday, Dec. 27, 2024. We'll make every effort to place your fully underwritten and Guaranteed Standard Issue business in force before this date. We'll pay commissions on policies placed in force after Dec. 27, during the mid-January 2025 commission cycle.

Policy Delivery Requirements

The deadline for all policies is noon Pacific, Friday, Dec. 27. We guarantee that all pending policies with complete and compliant delivery requirements will be placed in force by the end of that business day.

For outstanding delivery requirements, access your Policy Inquiry account.

Office Holiday Closures

We’ll be closed for holidays on Dec. 24 and 25, 2024, and Jan. 1, 2025.

Help Your Producers Earn the Producer Renewal Bonus

Do you have producers nearing the bonus thresholds? If so, make sure they place their business in time to count for 2024! As a reminder, the Producer Renewal Bonus is payable only on fully underwritten Platinum Advantage Income Protection Insurance. Producers can reach the thresholds with any of The Standard’s fully underwritten products. They’ll also earn service fees for years 11 and up.

In addition to first-year commissions and the vested base renewal of 5% in years two to 10 paid regardless of sales volume, Producer Renewal Bonus earners will receive bonus commissions:

  • Producers who sell more than $25,000 in a calendar year will earn an additional 5% renewal bonus, for a total of 10% in years two to 10. We will also pay a 2% service fee in years 11 and up.
  • Producers who sell more than $50,000 in a calendar year will earn an additional 10% renewal bonus, for a total of 15% in years two to 10. We will also pay a 2% service fee in years 11 and up.

 

Share the Producer Renewal Bonus flyer with your producers.

More About Updates
The Standard’s Electronic Medical Questionnaire is now available in all states except South Carolina.
We're adjusting our Platinum Advantage rates and extending discounts to more states. These adjusted rates and discounts for The Standard’s fully underwritten Platinum Advantage product are now available in all states except South Carolina.

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