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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.
In most cases, agents will earn high up front commissions with much lower rates on renewals. Commissions for life and health insurance brokers tend to be between 40-100% of the first year premium, then 1-2% for renewals, and after 3 years often go away entirely. Example: A whole life insurance policy with premiums of $5,000 and commission of 70% provides the agent with $3,500.