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Home and car insurance agents typically receive a 10 to 15 percent commission on the first yearâs premium. Commissions can range as low as 8 percent, says Bissett, while 15 [percent] would be on the very high end.. In contrast, life insurance agents make most of their money in the first year of a new policy.
The commission paid is limited to 2 per cent in case of single premium policies. In case of pension plans, the commission is limited to 7.5 per cent of the first yearâs premium and 2 per cent there on. Currently most of the policies are very much paying these kind of commissions.