How does broker commission work for monthly paid policies?
Premium is 100% earned and retained. For monthly payments the broker would still get 100% of their commission upfront at the time of purchase. Should an insured miss a payment, we notify the broker as well as the insured, giving the broker the opportunity to follow up and solve the issue.
💸As a reminder we pay commissions out at the end of the following month. For example, if you had policies bound in May, we would pay those out at the end of June.