This email is to inform you of an important update regarding broker commission payments. As you know, our billing cycles have shifted due to the recent system upgrade. Due to this shift, you may notice a smaller commission payment than you normally receive this month. While there are no changes to how your commission payments are calculated, payout timing has changed.
Prior to the system upgrade, we included anticipated or pending premiums in commission payments. Now, commission payments are based on premium collected at the time we process commissions. Depending on how your clients pay, their premiums may not be received in time for you to receive commission within the same month. In most cases, this change means that your commission payment reflects your earnings on the prior month’s premiums.
As a reminder, you will receive separate commission statements by email for individual and group sales:
- Group commissions are processed around the 10th of each month and payment is usually issued within a few days.
- Individual commissions are processed around the 15th of each month and payment is usually issued within a few days.
If you have questions regarding group commissions, please reach out to your assigned account executive.
If you have questions regarding individual commissions, please call our broker helpline at 800.894.1529 to speak to a member of our individual product team.
