It’s back and
better than ever
Introducing our new and improved Brokerage Bonus Program^^ featuring bigger payouts, more opportunities to earn, and expanded eligibility.
Put more money in your pocket starting today
Whether you’re with a brokerage or agency, bonuses will be paid out in March of the following year.
Earning more has
never been easier
Brokers can make up to a 6% bonus (increase from 2.5% in 2022) on collected premiums3 for new group sales.
Rewards for
retention
Retaining existing business deserves a celebration – and financial reward. Brokers can earn up to an additional 2% bonus on group renewals.
Welcome,
general agencies
Now, for the first time, eligible general agencies can participate in the Brokerage Bonus Program with an opportunity to earn a 2% bonus on new bookings.
Earn up to a 6% bonus on new sales
The more you sell new group plans, the higher your bonus payout could be.
Here’s how it works:
- Eligible brokers with a direct agent or agency relationship with Beam and cannot have a separate compensation structure above the set commission
- Your brokerage sells a minimum of 15 new groups or $200,000 in annual recurring revenue (ARR)
- Effective dates of January 1, 2023, through December 31, 2023
- Must have at least five eligible lives enrolled for Beam coverage
Per group payout percentage based on ARR.
Get rewarded
for renewals
Brokers can now earn up to 2% of an additional bonus when groups renew
with Beam.
Here’s how it works:
- Brokerage achieves new group sales bonus
(see section above) - At least $500,000 in annualized in force premium
as of Jan 1, 2023 - Minimum of 85% premium persistency1
Earn a bonus
on new sales
Eligible general agencies can now earn up to a 2% bonus on collected premiums for new group sales.
Here’s how it works:
- Agency sells a minimum of $250,000 in ARR
- At least $500,000 in annualized premium for Beam dental and vision plans effective January 1, 2023
- At least five eligible lives enrolled for Beam coverage
- Your downline agents are also eligible for our brokerage-specific bonus program
We’re here to help. Contact your Beam representative
or click to get started on a quote.
Your success is our mission
Did you know Beam is one of North America’s fastest-growing technology companies?2 We now serve over 325,000 people across the country and have grown our business by 60% in the past year — and we're just getting started.
Why Beam? Along with our simpler, smarter employee benefits, we give brokers, employers, and members simple self-service tools, competitive pricing, robust benefits bundles,‡ rapid implementation, and thoughtful coverage for improved health and wellness.
Smart
We're digital-first. Beam can process group implementations in as little as one day.**
Simple
Our plans are easy to understand, easy to implement, and even easier to use.
Wellness-focused
Members earn real rewards# for positive wellness habits through the Beam Perks** program.
Terms and conditions
^^Brokerage Bonus Program
Brokerages have an opportunity to earn an additional bonus on collected premium3 from new group sales with effective dates from 1/1/2023 to 12/31/2023. The program will only apply to Beam administered dental, vision, life, accident, and hospital only indemnity products.
Eligible brokers are those with a direct agent or agency relationship with Beam and cannot have a separate compensation structure above set commission. Any partner relationship and/or general agency with an enhanced commission/bonus structure is ineligible for the brokerage bonus. See below for details on brokerage bonus for new and renewal business. For General Agents see the General Agent bonus for applicable program.
Bonus is a one-time payment that is separate and independent from commission and has no impact on rates. Bonus amount is expected to be paid in March 2024, but may be subject to change. Bonus payout is not guaranteed and eligibility, bonus amount, and payment is subject to Beam’s sole discretion.
Percentage to be paid out is dependent on the threshold met and will be paid as a percentage of the total collected premium from group sales. Bonus tiers are based on the total annualized amount4 of all groups with effective dates between 1/1/2023 and 12/31/2023 that are still an active client with Beam as of 12/31/2023. Bonus amounts are not cumulative. Premium thresholds can be met through multiple deals.
Please check with your Beam representative to see if you’re eligible. In order to be eligible for qualification and payment, the broker must be appropriately licensed and appointed and comply with all applicable laws and regulations, including, without limitation, those that apply to disclosure of compensation.
Valid in all states in which Beam sells insurance, excluding NY. Beam Benefits may suspend or terminate this offer at any time for any reason. The personal information collected, processed and used as part of the promotion will be used in accordance with Beam Benefits Privacy Policy, which is available for your review at beambenefits.com/privacy
- Bonus applies to a maximum of $500K in collected premium per Group
- Groups must have a minimum of 5 active lives as of 12/31/2023
- Groups sold through General Agencies (GA) will have a bonus paid at 80% of applicable tier achieved to the downline brokerage
- Annualized premium is calculated as the second month’s premium multiplied by 12
- Bonus paid against collected premium from applicable new business
- National Brokerage Partners or Brokerages with their own Supplemental compensation programs are excluded from this program.
- Brokerage must have $500,000 in inforce premium as of January 1, 2023.
- Bonus applies to a maximum of $500,000 in renewal premium per group and only to renewal premium.
- Retention is defined as a binary of either the locked 1/1/2023 value or zero / total Brokerage 1/1/2023 inforce premium.
- Organic growth (or decline) does not factor into the revenue retained calculation.
- Groups associated with GAs will have a bonus paid at 80% of applicable tier achieved to the downline brokerage.
- Bonus paid against collected premium from applicable renewal business
- Brokerage must qualify for minimum new business tier to qualify for renewal program.
- Bonus payout maxes out at $3K per group
- Groups must have a minimum of 5 active lives as of 12/31/23
- Annualized premium is calculated as the second month’s premium multiplied by 12.
- Bonus paid against collected premium from applicable new business.
