Cyndy Brooke

<p class="p__7">Since life and health insurance coverage commissions are front-loaded, representatives normally do not receive a commission after the 3rd policy renewal. At times, captive and independent representatives might earn contingent commissions, which are incentive-based. Insurance business or companies may set specific goals for achieving contingent commissions, such as: Reaching a particular volume of businessPolicy retentionGrowing a particular line of insuranceOverall profitability In general, no matter the type of agent, the greater an agent's book of service, the more commissions he or she makes.</p>
<p class="p__8">Most U.S. states have disclosure laws that require agents and brokers to offer this info. Some insurance agents might get quarterly, semiannual, or year-end perks based on their sales performance. For captive representatives, efficiency bonus offers can amount to 20% or more of their earnings. Independent agents generally do not get performance bonuses unless they work for an independent insurance agency that uses such opportunities.</p>