I have worked for an insurance company as an agent for five years. If I stop selling policies now and also do not renew my agent licence with the company, will I still get commission on the policies I have sold in these five years?As per general practice, insurance agents continue to receive the renewal commission on the policies sold by them even after they quit their job. The insurance regulatory authority has determined the maximum amount of renewal commission which shall be payable to any insurance agent. Nothing, however, has been specifically provided for the agent who quits his job before a specified time. Payment of renewal commission depends on the contract between the insurance company and the agent. So, in your case, you need to check with the insurance company you are currently working with, as to what are the company policies for payment of renewal commission with regard to the kind of policies sold by you after you quit.
