Overriding belief: Customer service - To give the best customer service. The customer is the king; the customer is divine'
The following shall be observed in the management of the sales process and selling of Destiny Memorial Plans.
1. Recruitment of sales force:
1. The following shall be invited to join our team:
1. Likes to be with people
2. Are ACE people: Amiable, Compassionate, and have a deep sense of Empathy
3. Is ethical and honest
4. Is driven, goal oriented, and hard working
5. Is ambitious
2. The recruits can join our force after fulfilling the following conditions:
1, Has thoroughly undergone our training program; has been revalidated about product knowledge selling technique: closing and handling objections; has been issued Certificates
of Training
2. Has gone with the seniors to sell and close
3. Has accomplished SEAD signed the front and back; has understood the terms and conditions like fidelity to money matters, compliance with IC company and branch rules and regulations
x-x-x-x-x-x-x-x-x-x-x-x-x-x-x-x-x-x
Agency Agreeement
Sales Agency Agreement for Memorial Plan Selling
This agency authority to sell being granted by Destiny Financial Plan Inc, with offices at ________________ herein represented by _____________________ hereinafter named as the COMPANY
and
______________________________
email add___________________________
and with two valid IDs attached herein, hereinafter names as SELLER
Witnesseth:
Whereas, the Company has been duly authorized by the Office of Insurance commissioner to sell traditional memorial plans and is desirous of providing income and job opportunities to those seeking such;
Whereas the the SELLER is desirous of finding additional source of income and such selling activity is desired by the SELLER
Wherefore in consideration of the above PREMISES the COMPANY grants authority unto the seller the memorial plans authorized by the OIC for period of one year from today ___________________
under the following terms and conditions
1. Rank _______________________
Target/month/semester_________
Sales Agency Name _________________
Head__________________________
Com rate _____________________
ORC _________________________
Additional compensation___________
2. No employee employer relationship. The SELLER is not an employee of the company and cant be liable as an employer, nor are there SSS, Philhealth, SSS deductions contributions. The WT rate of _ however shall be deducted from commissions
3. Representations:
1. The identity address and circumstances stated above are true and correct
2. The SELLER possesses all the qualifications and none of the disqualifications by IC and Pre Need code
3. The SELLER has not be charged nor convicted of any crimes involving moral turpitude.
4. Duties of Diligence Obedience and Loyalty. The SELLER subscribes to these duties and therefore:
1. Shall follow OIC company rules and regulations
2. Abide by the code of conduct and ethics in selling
3. Observe the Code of Conduct and Discipline
4. Attend sales meeting conference and meeting when so required.
5. Join events and sales campaign when so required
6. Shall support the products, mission vision of the COMPANY during the life of this agreement
5. Faithfulness and honesty with regards to money matters and accountable forms and exercise of due care and diligence.
1. The SELLER shall diligently and faithfully protect the money entrusted to him her, including the blank application forms and Official Receipts, Acknowledgement Receipts; shall not lose, misplace, abscond, lose to robbers and cheats the same while in his custody. He shall promptly deliver, deposit, report the said amount and accountable forms within 24 hours within receipt
2. Reports - the SELLER shall submit hard copy reports weekly via pouch or any convenient media weekly every Saturday afternoon, but shall make a text report to the branch and the head office daily
6. Non compete and non disclosure. During the life of this agency, the SELLER shall not divulge to competitors the sales activities of the company or the branch nor furnish advertising materials prices, strategy moves to competitors; nor shall the SELLER sell similar competing products for competitors.
7. Exit provisions:
1. The SELLER can cease terminate this agreement, after a 30 days written notice. A no show of 60 days or more means the SELLER is no longer interested and the company shall consider without notice to the SELLER that this agency has ceased. The COMPANY may or may not reinstate the privileges that includes his com rate should he/she desire to re enlist
2. The COMPANY may terminate this agreement/authority to sell for any or all of the following reasons:
1, Condition 7.1 ie non appearance and lack of interest in the sales activity
2. Violation of Par 6 ie selling competitive products and disclosure of COMPANY activities to competitors
3. Violation of Par 5 ie money matters and accountable forms unexplained loss and destruction
4, Habitual non submission of reports
5. Habitual (more than 3x) non attendance of sales meeting events;
6. Acts which constitute violation of the Company Code of Conduct and Discipline that requires dismissal termination of services agreement with the COMPANY
Witness our hands this _________day of ______20 __at ____________________.
______________________________
Company Seller
(To be printed at the back of SEAD)
2. Sales terms and condition
1. Insurance coverage
1 Term life insurance GYRT (Group Yearly Renewable Term) based on principal amount even if there are payments on the principal
Up to P100,000 insured by MB life Credit Group Life Insurance term
Covered if principal is between age 18 and 60 at the time of enrollment
The balance is deemed paid if:
beyond contestable period
no pre existing condition
not engaged in dangerous sports jobs or activities
Cash back to the beneficiary of the principal payments
2. Personal Accident Insurance (PAI)
1. Double indemnity for accidental death arising from: falls, drowning, or vehicular accidents. The amortization shall be deemed paid, and another amount shall be paid to the beneficiary
2. Disability benefits arising from accidents. The principal did not die from the accident but was disabled:
100% of amortization deemed paid for total disability: loss of two hands, two legs, or two eyes;
50% of amortization deemed paid for loss of one foot, one hand or eye
2. Advantages:
with insurance coverage
jointly to be run by Destiny Financial Plan Inc with solid experience in
finance and investment and Holy Gardens group with 33 years of
experience in memorialization, with over P4 billion in lot inventories
with capacity for body crypts, chapel and funeral service, ash crypts and soon crematorium
easy payment terms, up to 60 months
none or little interest on the balance
(can be loanable up to 50% of the purchase price instant release)
memorial needs can be had with as little as monthly load costs
Assignable (to a dead party - we will require an assignment fee)
Transferable (to a living person - we will ask for small transfer fee)
3 Process:
1. The seller sets up an appointment with the customer
2. The seller through his convincing and influencing power closes the sale; he/she must neutralize the objection
3. The seller if visiting the house or office of the buyer brings a blank Application Form.
The seller fills up all the blanks clearly and legibly. The buyer signs on the buyers line Signature over printed name SOCPN. The witness and the date are musts
4. There is a provisional receipt at the bottom of the page which the SELLER can use to receive the money.
5. The Seller remits the money to the branch office or deposit the money in the bank when it is so required. The seller accomplishes the required remittance report. He she subtracts the commission if he she is the sales director. Better still remit to the Branch Cashier
6. There are four copies of the Application form: one goes to the customer, one to the Branch, one will be left at the HO, and the original goes back to the customer. This process must be completed in 7 days.
7. Upon full payment, the customer is issued a Certificate of Full Payment. The process must be completed in not more than 14 calendar days
4. Commission:
The commission rate and this is outright (only for memorial plans)
Maximum:
Commission rate:
Sales Director - 50%
Seller 35%
The amount of 13 % is deductible from the amount subject to commission and is net of interest; the commission is subject to wt even if given outright. The comptrollers must take note of this
Thus maximum interest rate for example for P30,000 x 87% is P2,610 for the SD;
The seller gets: 26,100 x 7% = 1,817 to be given in 10 months P181.70
The SD over ride is 26,100 x 3% = 783 to be given in 10 months 78.30
Based on principal only (excludes the interest)
NB: vouchers are to be made for :
1. discounts and commission that must accompany deposit slips and remittance report
The WT of 10% must be deducted. Every seller is required to have a TIN.
Collection allowance:
The sellers, or a selected group of sellers may be allowed to collect. The allowance rate is as follows:
P25.00 for amounts less than P1,000; P50.00 for amounts above P1,000 and applicable only for one location and not per account.
Loss of tenure: If the seller fails to report for at least 90 days and does not notify his upline nor the office he has been deemed to have lost interest and abandoned his post and may lose his commission rate status
8. Reporting
A daily abstract shall be sent to the HO which apportions the funds to various accounts:
(the com has been allocated all ready:) which shall be as follows:
NB The TF contribution is charged
The insurance is remitted for ease of transaction yearly to MB Life in Advance. based on the
balance
1. Daily text reports for summary of net cash received must be made;
2. The abstract must be made daily and posted on the following day.
3. The ledgers must be balanced monthly;
The documents must be journalized and filed monthly in a masterlist
Accounts must be sorted and listed per agency and per sellers for collection assignment
9. Goal setting and vision board
The target of say 2,000 plots have to be farmed out to be various agencies and various sellers
They are encouraged to visualize:
1. How to be a money market
2. To dream and visualize how much they can earn
Say if you sell 100 plots and x 36,000 and you are a sales director that is
36.000 x 100 That is P360,000 if you sell that solo. But what if if you have four pipeline delivering to you 3 million each sales so that is about P13,000,000 and if you get just 1% over ride on your downline that is P130,000 on top of what you can sell directly
10 Franchise period: A seller who repeats sell for within a 6 months period after initial sale entitles the Seller to an automatic commission.
If the seller account has been taken by a colleague, because it was neglected, the former can not complain
11 Conflicts:
The office staff are not allowed to sell
In case of conflict, the one who signed on the application form shall be entitled to the com.
The commission rate shall be based on the SEAD declaration and on the authority to sell;
If there is still no satisfactory solution, the basis shall be the geographical assignment (territories)
If still not satisfactory, a toss coin may be resorted too.
In no case shall a com conflict reach the attorney or court
NB:
Some possible incentives: 1% of sales to be given to SE every quarter for SE achieving sales of 10 or more monthly
2% of sales for SD /agencies meeting their sales target monthly
edited: 7/19/2017
