Earnings Disclaimer
How You Pay For My Service — “To avoid any conflicts of interest or misconceptions about my compensation”
- I own and operate an independent insurance agency. I am responsible for all management, administrative, coaching/ consulting, housing, sales, marketing, advertising, training, education and development costs. This is approximately 60% of gross revenue.
- The business gross revenue is primarily various types of variable compensation/commission from Supplier Companies for the sale of their products to the consumer. I am bound by their compensation agreements. No such firm holds any interest in my company.
- I may charge additional planning or special policy placement fees in addition to these commissions in extraordinary circumstances. I will advise you and get your approval before I do.
- I may be eligible for additional revenue from these companies, travel incentives or share purchase plans depending on performance or quality factors over a production period. Often, I get paid once and then provide service as long as you are a client. Some companies pay some ongoing compensation to offset ongoing costs. I am not “paid by the hour”, but rather “paid by the project”. If you prefer, I can charge an hourly rate for my advice. Currently this is $365 per hour.
- I may be required to repay commissions if you cancel or move your business to someone else. Clearly your satisfaction is critical to me and I work very hard to earn your loyalty.
- I may also receive or share commission or fees from related Associates for work you choose to do through them. I will advise you when this can happen.
- Because my costs are so high to acquire new customers, your personal endorsement & recommendation to others is my most valuable compensation and a very important part of my compensation.
- I am not aware of any possible conflicts of interest to doing business with you and will advise you if one should arise.
- This statement has been prepared by me, Norm Lang. I am responsible for its accuracy.