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Transamerica companies are part of the Aegon Group.Copyright 2011 - 2016 Transamerica Corporation, 4333 Edgewood Road NE, Cedar Rapids, IA 52499—All Rights Reserved.These advances may or may not require the payment of interest, depending upon the agent's total business and historical experience with TEB.Agents may receive other compensation from TEB in the form of cash or non-cash awards or prizes, based upon a variety of factors that may include the level of premium written or earned, persistency and growth of premium, or other performance measures.Fees for such services may be calculated on a per policy or per certificate basis or upon the premium volume associated with a specific case.TEB may additionally reimburse these agents/administrators for certain expenses, such as the cost of mailings.The employee gains access to benefits at a lower cost than available to individuals, so everyone wins.
It is the responsibility of your agent to share specific information with you concerning his or her compensation arrangements with Transamerica.
Agents who manage, supervise or recruit other agents or wholesale our products and services to other agents, may receive commission overrides on business that results from their efforts.
Some of our agents may receive additional payments for providing services in connection with the administration of our products.
In order to ensure that this trust continues, and to address agent compensation issues within the insurance industry, Transamerica has outlined its policy on agent compensation disclosure below.
Transamerica's policy supports transparency and full disclosure of agent compensation to its customers and prospects.
In addition, we have controls in place to facilitate this disclosure and obligate our agents to disclose compensation information to customers in the following situations: (1) when asked by a customer; (2) when receiving a fee from the customer and compensation from Transamerica; and (3) when otherwise required by law.