For agent use only
For Advance Pay agents Compensation true up examples
Assumptions: $3K annualized planned premium (paid monthly) | 100% comp | 9 months advance Actual premium paid during first 9 months = planned premium; actual premium paid for remainder of first year = $500/mo. Planned premium does not exceed target premium for the policy Terms Comp payments Comp total 9 months advance 9 months advance compensation: $2,250 True up on first day of month 10: None required As Earned comp in policy months 10–12: $1,500 ($500/mo. x 3) $3,750
Assumptions: $3K annualized planned premium (paid monthly) | 100% comp | 9 months advance Actual premium paid during first 9 months = planned premium; actual premium paid for remainder of first year = zero
Terms
Comp payments
Comp total
9 months advance
9 months advance compensation: $2,250 True up on first day of month 10: None required As Earned comp in policy months 10–12: $0 ($0/mo. x 3)
$2,250
ethos.com
16
Made with FlippingBook - professional solution for displaying marketing and sales documents online