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[True or False] All insurance agents in RP work only for commission. Is this true?

Just a few curious questions about the Insurance industry. :)
  1. Are all insurance agents here in the Philippines purely on a commission-only basis?
  2. Is this legal?
  3. Is there such a thing as an Insurance agent becoming "permanent" or are all agents more or less "independent distributors" for the company?
  4. Aren't Insurance agents entitled to benefits such as SSS, Pag-ibig, etc.?

Thanks!

NC

Comments

  • bullishbullish On the phone PExer
    Sad to say NC, what you said is true. In my company alone, commission basis lang talaga, no basic pay as compared to regular employees. As for SSS and BIR, kaw din ang magshoshoulder nyan (less pa yata yan sa earnings mo). Yun namang insurance agents as permanent, they couldn't be considered as permanent as like other positions in the company.

    But I'd like to echo his question regarding the legality of this practice on the Insurance industry. Let's ask "the legal beagles" in this forum!
  • NoisyCricketNoisyCricket Filipino! PExer
    I heard this also goes for Real Estate Brokers and other members of the Sales Force in different industries aside from Insurance? Oh well. I guess though it must really be survival of the fittest. Salaries are more than forgotten or not needed by those who are earned oodles from commissions, eh? :D
  • rains_delightrains_delight Banned by Admin PExer
    Just a few curious questions about the Insurance industry. :)


    Are all insurance agents here in the Philippines purely on a commission-only basis?

    NOPE! My insurance agent also receives monthly compensation aside from her commission.
    Is this legal?

    Being a commission based agent? Yes.
    Is there such a thing as an Insurance agent becoming "permanent" or are all agents more or less "independent distributors" for the company?

    an insurance agent can either be.
    Aren't Insurance agents entitled to benefits such as SSS, Pag-ibig, etc.?

    If the agent is receiving salary, he/she is entitled to that benefits. But is he/she is just a part time agent, he/she is not.
  • NoisyCricketNoisyCricket Filipino! PExer
    Once manager ka na yata you start earning a salary and start receiving benefits :)

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