Free tool for financial advisers
Life insurance commission calculator: your first-year total and each renewal, at your own rates
Put in the premium and the rates from your own commission schedule. See the first-year commission, each renewal year and the total.
Renewal rates
Your premium, your rates, your years
Keep your own commission schedule beside you. No insurer's rates are built in.
- 01Put in the annual premium and your first-year rate.
- 02Add a rate for each renewal year on your schedule.
- 03Add the number of policies and the share still paying each year, if you want them.
How the sum works
An example with made-up rates, not any insurer's.
S$3,000 of annual premium at a 50% first-year rate is S$1,500.
Renewal rates of 10%, then 5% for four years, add S$900 over five years.
That's S$2,400 in all, with 62.5% of it in year one.
If 90% of policies keep paying each year, the five renewal years come to about S$688.
What changes the total
Each of these is a field. Change one and watch the table.
- The first-year rate, which sets most of the total
- How many renewal years your schedule pays
- The share of policies still paying each year
When to run it
Run it when a schedule or a plan changes.
- 01When you get a new commission schedule
- 02When you compare two products on your own rates
- 03When you set the year's first-year commission goal
- 04When a lapse hits your renewal income
What Palby Sales Tracker adds
Palby Sales Tracker, which we make, keeps the policies you've closed in one place.
- A closed case records each policy with its annualised premium and first-year commission
- A board of FYC month to date and year to date
- Pace to MDRT, COT and TOT from the FYC logged so far
Questions
The annual premium times the rate on your schedule. S$3,000 at 50% is S$1,500 in the first year. Each renewal year pays its own lower rate on the same premium.
What you're paid on a policy's first year of premium. It's usually the largest single payment on the policy.
This page doesn't quote any. They differ by insurer, product and term, so use the rates on your own schedule.
Yes. It holds no insurer's rates, so it works with whatever schedule you type in.
It takes the share of policies still paying each year and applies it year after year. At 90%, year 2 pays on 90% of policies and year 3 on 81%.
Your first-year commission is the figure MDRT's commission method counts. The MDRT calculator shows the gap.
Yes, the tool is free. There's no account, and the sums run in your browser, so your numbers stay on this page. Copy link keeps them in the link.
Keep the year's FYC where you can see it
See an FYC board on a sample agency in a 30-minute walkthrough.
30 minutes. You choose the day and the time.