What Does First Year Commission Mean?

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What does First Year Commission mean? Read on to discover the definition & meaning of the term First Year Commission - to help you better understand the language used in insurance policies.

First Year Commission

First Year Commission

A first year commission is the fee an insurance company pays an agent for selling a new policy. This payment is a percentage of the first year of premiums the policyholder pays on the new policy.

We hope the you have a better understanding of the meaning of First Year Commission.

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