STEP 10 OF 10
Step 10: Getting Paid
Celebrate your hard work! Understanding your commission structure helps you plan your cash flow and build your career trajectory. Ensuring all steps are completed accurately sets you up for timely payment.
Commission Structure
Base Commissions
Calculated as a percentage of annual premium. Your rate varies by carrier and contract level — as you advance, your percentage increases.
Override Income
Agency owners earn overrides on policies written by agents within their team — income that works while you sleep.
Bonuses & Incentives
Additional bonuses apply for hitting production targets, qualifying for contests, or earning incentive trips.
Payment Schedule
Commissions paid via direct deposit daily, typically within 3–5 business days after a policy is approved. NLG pays weekly.
Stay on Top of Pending Business
Daily Pending Review
Check carrier portals for updates. Review emails for underwriting requests. Update your tracker: Client Name, Carrier, Status, Action Needed.
Weekly Follow-Up
Set a dedicated review day. Follow up with carriers and clients on outstanding issues. Schedule alerts for next steps.
Carrier & Client Communication
Escalate delays with carriers. Remind clients of any outstanding signatures, medical exams, or missing paperwork.
Automate & Set Alerts
Use Google Calendar, your CRM, or Quility HQ for reminders on pending cases.
End-of-Month Cleanup
Prioritize cases 30+ days old. Push for month-end approvals to maximize commissions. Send out a Pending Business Report to your team.
Understanding Chargebacks
Chargebacks are a natural part of the insurance business and happen to even the most experienced agents. They're not penalties — they're adjustments. Understanding and managing them is key to long-term success.
What Is a Chargeback?
A chargeback occurs when a client's policy is canceled, lapses, or the client stops paying premiums during the commissionable period. You return a portion of the commission you were paid upfront.
Example: If you earn $900 in commission but the client cancels after 3 months, you'll return approximately $675 (the remaining 9 months' worth).
Why Chargebacks Happen
- 🔕 Policy cancellation or replacement
- 🔕 Missed/failed payment
- 🔕 Client didn't fully understand the product
- 🔕 Policy replaced with another one
How to Minimize Chargebacks
- ✅ Offer policies that fit budget and goals
- ✅ Educate clients on the value of their coverage
- ✅ Follow up regularly to address concerns
- ✅ Be transparent about how the policy works