Compensation

Bonus

A bonus is extra pay a carrier or agency gives an agent for meeting goals, such as sales volume or a contest. It is separate from base commission.

Why it matters

Bonuses may be tied to production, new business count, or persistency. They can also carry conditions, like repayment if policies lapse. Read the rules, deadlines, and chargeback terms before counting on one. Programs can change from year to year. Bonuses are not guaranteed pay, so do not build a budget around them.

Source: law.cornell.edu

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Where we use this term

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