Given that life and medical insurance commissions are front-loaded, representatives generally do not get a commission after the 3rd policy renewal. At times, captive and independent representatives may make contingent commissions, which are incentive-based. Insurance coverage business or companies may set certain objectives for accomplishing contingent commissions, such as: Reaching a particular volume of businessPolicy retentionGrowing a certain line of insuranceOverall success Overall, no matter the kind of agent, the higher an agent's book of organization, the more commissions he or she makes.

A lot of U.S. states have disclosure laws that require representatives and brokers to provide this details. Some insurance representatives may get quarterly, semiannual, or year-end bonuses based on their sales performance. For captive agents, efficiency benefits can amount to 20% or more of their income. Independent agents usually do not receive performance

More hints