One in five life insurance agents would consider changing carriers if the new one was a better fit, and the majority of producers that do switch blame it on an eroding relationship with the carrier, a new study suggests.
As a direct result of the Patient Protection and Affordable Care Act (PPACA) – also known as ObamaCare – health insurance agent and broker commissions have been slashed by as much as 50%. Agencies have been forced to lay off employees, limit products and services, shift to other lines, and have seen significant drops in compensation.