What is commision?

Question

What is commision?

Answer 1

What your insurance agent gets for being your representative on the account.  What the amount would be, I am not sure, you would need to review with your agent.

Answer 2

A commision is money (pay)  for a job you done. Like if you purchase a vacation package from a travel agency. They will take a certain amount out of what you paid and they will get that as an extra pay check. Usually its a set amount like 5-10% it is ontop of their regular paycheck so the more you sells  the more money you make.

Answer 3

Insurance Agencies receive commission (a percentage of the total policy premium) on each policy that the agency writes.  That is how insurance agents make a living.  The amount of the commission is not on top of your premium, but taken out of the premium.  So next time you think your agent is way overpaid and doesn't spend enough time tending to your needs, figure about 10-15% of what you pay each year in premium and then realize that is what your agent's entire office gets paid for dealing with YOU all year.  Not very much is it?  So be nice!