Benefit Priorities, Inc.
9041 Louvaine Dr            Charlotte, NC 28227            (704) 563-1125
Carriers & Compensation

As an independent broker, Benefit Priorities is not exclusively tied to one, or even a few, carriers. In fact, brokers do not represent insurance companies at all; they represent their clients. In this way, we are able to bring to you the "best fit" of all competing vendors and products available in the marketplace.

Except in unusual situations, we will never solicit proposals from carriers with less than an A rating from A. M. Best. Service companies are not rated, however we will not recommend a service provider that does not have a track record of providing the world-class service levels we demand for our clients.

While not all-inclusive, listed below are many of the vendors we work with on a day-to-day basis. Our exceptional working relationships with these companies translates to economical, high-quality benefit programs for you.

- Aetna                                         - Lincoln Financial/Jefferson Pilot

- Ameritas                                     - Met Life

- Assurant                                     - Mutual of Omaha

- BCBS of North Carolina                   - Principal Financial Group

- BCBS of South Carolina                  - Reliance Standard

- CIGNA HealthCare                         - Securian Life

- Colonial Benefits                           - Standard Insurance

- Companion Life                             - Sun Life

- Coventry/WellPath                         - Transamerica

- Discovery Benefits                         - United Healthcare

- Guardian                                      - UNUM

- Hartford                                       - Wellpoint/UniCare

On occasion, we might also enlist the services of a Managing General Agent, or MGA (a broker’s broker), in order to obtain access to even more markets. For example, for a group with less than 5 employees, we may need to seek out additional carriers that specialize in and offer exceptional value to smaller groups.

Our Compensation


Every carrier has their own version of a standard commission scale, which can be based on a variety of factors: group size, type of coverage, number of members enrolled, or annual premium generated, for example. The commissions are built into the rates quoted and generally do not impact the premium charged until a group reaches 50 or more employees. In addition, some carriers will authorize a bonus, or a "preferred" level of commissions, based on total volume, persistency or profitability of the business placed with them by any one broker.

Benefit Priorities will provide our core brokerage services for the prevailing rate of "standard" commissions (including any bonus or preferred consideration), thus eliminating the burden of special handling, processes and future maintenance by the insurance companies, Benefit Priorities and you. In most cases, the commissions payable in the under-50 life market are non-negotiable. Additional services available exclusively through our agency are not included in our core brokerage service and will be subject to separate, client-specific pricing.

The decision to place your business with any vendor is yours alone to make. We will never pressure or steer you toward any particular carrier based on the commissions payable. Commission scales will be disclosed to you once a buying decision has been made, or sooner if desired. However, we urge you to base your placement decisions on the value of the benefit programs presented and how well they meet your needs, not on our compensation. Finally, as required by law, we will disclose the actual amount of compensation received by us on your group on an annual basis.

 

 

 

 

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