For agent use only
For Advance Pay agents Compensation true up examples
Assumptions: $3K annualized planned premium (paid monthly or annually) | 100% comp | Actual premium received = planned premium Planned premium does not exceed target premium for the policy
Terms
Comp payments
Comp total
6 months advance
6 months advance compensation: $1,500 True up on first day of month 7: None required As Earned comp in policy months 7–12: $1,500 ($250/mo. x 6) 9 months advance compensation: $2,250 True up on first day of month 10: None required As Earned comp in policy months 10–12: $750 ($250/mo. x 3)
$3,000
9 months advance
$3,000
12 months advance
12 months advance compensation: $3,000 True up on first day of month 13: None required
$3,000
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