Tier 2: Business Class – $200 bonus for 3 SIWL paid applications
Tier 3: First Class – $500 bonus for 10 SIWL paid applications
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- Eligibility is limited to applications, paid and inforce during the bonus period, and net of not-takens. Forward dated policies past the program end date of July 4th, 2022 will not be eligible.
- The bonus is a one-time payment and is not cumulative.
- Maximum payout is $500.
- Policies placed prior to April 4th, 2022, will count toward the qualification for tiers 2 and 3.
- Normal chargeback rules apply.
- Lapsed policies during the contest period and up to the date of payment will not be eligible for additional bonus payment under the contest rules.
- Business written on self or immediate family members does not count toward qualifying production. Immediate family shall mean a child, spouse, mother, father, sister or brother of You or Your Spouse/Domestic Partner.
- Contest is open to all producers appointed with American General Life Insurance Company who are at least 18 years of age. Eligibility is limited to individuals contracted at the Producer’s level and is based solely on the Producer’s personal production. The company will issue awards per qualifying producer based on the producer’s tax ID number regardless of what source through which the business is submitted. All qualifying producers must have an active contract with AGL throughout the contest period; and they must otherwise be in good standing with AGL to be eligible for the commission bonus.
- Fast Start Bonus will be paid weekly starting the week of May 2nd, 2022.
- The value of the bonus will be treated as compensation to the producer and customary tax reporting will apply. AGL will file Form 1099 with the Internal Revenue Service to report the value of the commission and recipients assume any federal and state tax liability.
- AGL will be the final judge on all issues pertaining to the bonus program, including, at its own discretion, the determination of commission and the determination of a producer’s qualification for such commission.
- AGL is the sole arbitrator of the criteria as defined above and no other methods, calculations or exceptions will be accepted.
- AGL reserves the right to change, deny or terminate the bonus incentive program at any time without prior notice. There will be no exceptions and all decisions pertaining to the incentive programs, and any issues not covered by these guidelines will be determined solely by AGL.
- Nothing but this program or any compensation arrangement derogates from Agency’s continued obligation to provide insurance products to help meet the needs of its customers as required by law and Insurer’s underwriting rules.
- No substitution will be made by AGL and no other compensation will be provided in lieu of commission payment.