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Disability insurer increased producer comp spending

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StanCorp Financial Group Inc. (NYSE:SFG) has given agents and brokers a peek at what it paid them last year in its 2015 10-K, or official annual report for investors.

StanCorp, the parent of Standard Insurance Company, is a major player in the employee benefits and individual disability markets.

The company’s menu of benefits products includes group disability insurance, group life insurance, group dental plans, group vision plans and absence management services.

The company paid $144 million in commissions and bonuses to benefits product producers in 2015. That was up 18 percent from what it paid producers in 2014.

See also: Anthem posts sales spending numbers

The company’s spending on individual disability insurance producer compensation increased 4.6 percent between 2014 and 2015, to $50 million.

Total producer compensation spending, which includes payments related to asset management services sales, rose 15 percent, to $238 million.

The company says benefits producer compensation increased in 2015 because of a combination of higher sales and better client retention levels.

See also: 

Humana and Aetna talk about producers

Aflac’s earnings: 3 things executives said about producers


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