The Weslaco Independent School District believes having three insurance agents sharing the spoils is better than having just one, so they hired four…………..
“These four are our health insurance agents. Why not give them the voluntary benefits too? purred the generous lady on the right.
“We’re getting a good deal, three of the biggest hitters in the Valley, three for the price of one!” panted a breathless board member. “It’s a business decision.”
(Video time stamped so you don’t have to listen to all the other crap)
After a brief discussion it was decided having four insurance agents is even better.
There are more agents involved here but the district doesn’t know it. For example, a San Antonio group of 450 employees paid 28 agents a commission on voluntary products through one insurance company. Most of these are troglodytes.
This is an example of how some insurance companies distribute their product through various marketing levels. There may be a State Manager, Regional Manager, District Manager, Area Manager, Sr. Sales Leader, Agent and Broker all paid in accordance to a commission hierarchy system. The money flows from the top down. In this case, this well known voluntary benefits carrier paid 28 agents a total of $47,883. The higest paid agent received $26,280 and the lowest paid agent received $2.
How do we know that? Simple……….check out the 5500 form filings if one exists and in this case it did.