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Comparative Income
This worksheet will allow you to compare your current
situation with that of becoming a Member of SIAA. Enter
your current numbers in the space provided and calculate
the return on writing $1,000,000 in premium. Because your
renewal commissions are reduced, the worksheet shows two
years of income generated from the original $1,000,000 in
premium.
View Below
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Current |
Independent
Strategic Member |
| Premium
|
$1,000,000 |
$1,000,000 |
| Average 1st Year
Commission |
|
15% |
| 1st Year Total
Commission |
|
$150,000 |
| Profit Sharing
& Excess Compensation |
|
$12,000 |
| On-going Automation
Charges |
|
$0 |
| Total 1st Year
Income |
|
$162,000 |
| Average Renewal
Commission |
|
15% |
| Average Retention
Ratio |
|
95% |
| 2nd Year Commissions
|
|
$142,500 |
| Profit Sharing
& Excess Compensation |
|
$11,400 |
| Automation Charges
|
|
$0 |
| Total 2nd Year
Income |
|
$153,900 |
| Total 2 Year Income
from original $1,000,000 Premium |
|
$315,900 |
| Brokerage value (Value
of expirations) at end of year 2 from original premium base
|
|
285,000 |
|
