Yes, Edge is spelled wrong - I ran out of space. I am following up my report - I am Clinging to the Edge.
It is now November 2011 and I am no longer employed with Combined Insurance, which is a good thing for me and the family.
There is no salary with Combined as a sales agent; you are straight commission. You must pay for all fuel, phone, and business expenses out of your own pocket.
I have read about people complaining about not being able to understand the way in which Combined pays its agents, so here is the breakdown.
New Customer - If you sign up a new customer or someone who has cancelled 13 months ago, you will receive 45% commission on the sale.
Existing Customer - if you sell a new policy to an existing customer, you get 30% commission - my previous posting above was incorrect.
Now, breaking down how the commissions are paid to you:
Your commission is based upon the annual premium value (APV) - what the policy costs for the whole year. So if the customer is paying $30 per month, the APV is $360 (12 months x $30).
Using a new customer as an example for computing the commission on a sale of $360 APV, the total commission would be $162 ($360 x 45%). Here is how Combined will pay you.
As soon as you sell the policy, you receive 50% of your commission. Using the number above, the APV is $360; you receive $81 commission in your next paycheck ($360 x 45% x 50%).
As soon as the policy is approved by the corporate office, you receive 25% of your commission. Again, using the number above, you receive $40.50 commission ($360 x 45% x 25%).
Then, the remaining 25% of your commission is split up so that you receive it when Combined receives payment for the 10th, 11th, and 12th payment of the first year of premiums. So, you will receive $13.50 after 10th month of the premium has been paid, $13.50 after 11th month of the premium has been paid, and $13.50 after 12th month of the premium has been paid.