Contest Rules
Founder’s Month is Security National Life’s way of showing our agents how much we appreciate them! With the opportunity to earn great bonuses, plus special contests and more, Founder’s Month is one of our best contests of the year!
All business received September 12, 2022 through October 14, 2022 will count toward the contest. Policies submitted to the Home Office with an immediate draft or a future draft date must have a valid EFT form with the 1st draft scheduled within 30 days of the date of application and be received in the Home Office by 10:30 AM MST (Mountain Standard Time) on Friday, October 14, 2022).
If you choose to overnight an application, please use UPS and/or FEDEX if you want your apps guaranteed in the Home Office by Friday, October 14, 2022. The postal service does not guarantee arrival by 10:30 AM. You can electronically upload your application through the Agent Portal by 10:30 AM, MST (Mountain Standard Time) on Friday, October 14, 2022.
Bonuses and cash prizes will be based on Annualized Premium. All cash prizes will be awarded with a check, to be delivered by December 24, 2022.
Agents must be in good standing with the company and have a first year persistency (P1) of at least 80% and a positive advance balance (as of the end of the contest – October 14, 2022) in order to receive any prize money – this includes bonus commissions. (P1/ P2 Persistency must be at least 75% at the end of the contest.)
*Annuities will be credited at 10% of their value towards the contest.
The Story Behind the Contest
In the early fall of 1966, Security National was celebrating its first full year in business. During that year, George Quist had added several new and hungry agents to his company, many of whom had left jobs in other industries that did not require them to “dress up” for work.
After noticing that some of these agents wore the same suit multiple times a week, George decided to have a sales contest where these new agents could earn clothing suitable for working in the insurance business. He devised a program that challenged these agents to help families and to reward agents based on their performance; thus, Founder’s Month was born. We’ve moved away from awarding suits, but Security National’s appreciation for its agents remains the same!
Our Founder, George QuistBonus Contests
Our Bonus Contests help you supercharge your Founder’s Month Bonus. You could earn extra commissions, reach a higher bonus level, or get rewarded for consistently submitting apps. Bonus Contest Weeks are announced after the end of Founder’s Month, so make sure to treat each week like it could be a bonus week!
Bonus Production Week Rules
Boost your production numbers so you can earn a larger Founder’s Month Bonus! During Bonus Production Week, each additional app you submit builds extra production that will be applied to your cumulative Founder’s Month contest production.
Bonus paid based on application received date, not paid date. Bonus commissions will be calculated based on the advance rate originally assigned to the policy. If a policy terminates for any reason within six (6) months, the bonus commission will be charged back against your next advance.
**Standard Advance Rates apply. See chart below for details.
Bonus Commission Week Rules
During Bonus Commissions Week, each additional app you submit earns a higher commission. You could earn up to double commissions on each app!
Bonus paid off of application received date, not paid date. Bonus commissions will be calculated based on the advance rate originally assigned to the policy. If a policy terminates for any reason within six (6) months, the bonus commission will be charged back against your next advance.
**Standard Advance Rates apply. See chart below for details.
Multi-Week Bonus Rules
Consistency is the key to success! It’s also the key to earning an extra bonus. Submit a minimum of 5 policies each week for 3, 4, or 5 of the 5 weeks of our contest to earn an extra bonus!
|
Number of Weeks |
Bonus |
|
5 Apps for 3 Weeks |
Get $300 |
|
5 Apps for 4 Weeks |
Get $400 |
|
5 Apps for 5 Weeks |
Get $500 |
**Excludes Annuity Products.
Commissions and Production
Our Founder’s Month contest gives you the opportunity to receive a bonus based on your production during the contest. Bonuses are paid according to the chart below:
| Production Amount (Annualized Premium) Contest Volume + Any Bonus Production Earned | Founder’s Month Bonus |
| $1 – 3,999 | 2022 Commemorative Coin |
| $4,000 – 5,999 | $200 |
| $6,000 – 7,999 | $350 |
| $8,000 – 9,999 | $500 |
| $10,000 – 11,999 | $750 |
| $12,000 – 13,999 | $1,000 |
| $14,000 – 18,499 | $1,250 |
| $18,500 – 22,999 | $1,500 |
| $23,000 – 27,999 | $1,750 |
| $28,000 + | $2,000 |
All production is measured in Annualized Premium and must be received in the Home Office by 10:30 AM MST (Mountain Standard Time) on Friday, October 14, 2022. Annuities and terminated polices are excluded from the contest. Annuities will be credited at 10% of their value towards the contest.
Bonus Contest Details
At the end of Founder’s Month, two (2) of the five (5) weeks will be picked by our auditors (weeks can be the same). One (1) of those weeks will be designated Bonus Commission Week and the other one will be designated Bonus Production Week.
Bonus Commissions Week
Bonus commissions are calculated in the order applications are received during the bonus week. If more than one (1) application is received on the same day, the lowest commission policy will be calculated as your first application received and then continue upward. (See chart for percentages paid) Bonus commissions will be paid by December 24, 2022.
Bonus Production Week
Bonus Production is calculated based on the same rules as Bonus Commissions (see chart) and will be applied toward your cumulative production for the Founder’s Month Contest. Agent’s Founder’s Month Bonus will be based on their combined contest production + bonus production.
| 1st App Received | Has Zero (No) Additional Value |
| 2nd App Received | 25% Additional Commission/Production |
| 3rd App Received | 50% Additional Commission/Production |
| 4th App Received | 75% Additional Commission/Production |
| 5th App Received | 100% Additional Commission/Production |
| Each Additional App | 100% Additional Commission/Production |
Questions? Call our Agent Hotline at (855) 765-4765
We look forward to a successful Founder’s Month together! Please call us with questions using our Agent Hotline for specialized service:
| Press 1 | New Business |
| Press 2 | Commissions |
| Press 3 | Underwriting |
| Press 4 | Lead Support |
| Press 5 | New Hire Appointment/Sales Support |
| Press 6 | Marketing |
| Press 7 | Policy Service |