P&C Commissions - Advanced?
- Thread starter JJ2713
- Start date
- 4,575
PC are not really "advanced", but they are paid for the entire policy period usually. It is because the Premium is due for the entire policy period. The client may end up setting up a payment plan for the premiums, but you are generally paid on the full policy term premium at issue/renewal. Any increases or decreases to coverages effecting the policy term premium would then be adjusted. So a "backout" in PC isn't really a backout, it is an adjustment to coverages that caused the Policy term premium to be lower (IE-- delete a car, put car in storage or lapse the policy mid term).
- 5,290
My p&c commission is paid as as the policy is paid, but it often takes awhile for the money to come in.
