Insurance Commission Calculator

Calculate Insurance Commission



Formula

The formula to calculate the insurance commission is:

\[ \text{IC} = P \times R \]

Where:

What is Insurance Commission?

Insurance commission is the amount of money an insurance agent earns from selling an insurance policy. It is calculated as a percentage of the premium amount paid by the policyholder.

Example Calculation

Let's consider an example:

Using the formula to calculate the insurance commission:

\[ \text{IC} = 1000 \times 0.10 = 100 \text{ dollars} \]

This means that the insurance commission for this scenario is $100.