The remuneration will be paid to you in the form of Commission as percentage of premium collected through the policies sold by you
It is not a onetime commission on a sale made by you.
It provides you the royalty income throughout the term of policy.
As long as policy holder pays the Premium you will get the commission.
Moreover this commission is hereditary i.e. it will be paid to your nominees even after your death.
The Commission rates on regular premium policies are as follows
|First year Commission
||4% to 25% depending up on the type & term of the policy
||40% of first year commission
|2nd and 3rd year of policy
||2% to 7.5% depending up on the type and term of policy
|4th year onwards
||2% to 5% depending up on the type and term of policy
Example of Commission on Endowment type of policy of Term 15 years and above
|1st Year Commission
||25% of Premium
|Total 1st Year Commission
||35% of Premium
|2nd & 3rd Year of policy
||7.5% of Premium
|4th Year onwards
||5% of Premium