Help Center

Set Up Insurance and Annuity Product Commissions

LeadCenter lets you set up commissions for insurance and annuity products so the correct company commission is applied automatically when an account is issued. Insurance and annuity products use the same setup structure, so there is no separate annuity-only section.

How Insurance and Annuity Product Commissions Work

The setup follows this hierarchy:

1. Wholesale Provider (optional)
2. Insurance Company (carrier)
3. Insurance Product
4. Insurance Product Commission

The commission entry stores the street level commission for a product. If needed, you can create different commission entries for different client age ranges. When an insurance or annuity account is issued, LeadCenter uses the selected carrier, product, and age range to apply the correct commission automatically.

What to Set Up First

Before adding product commissions, set up these items in this order:

1. Wholesale Providers (optional)
2. Insurance Companies
3. Insurance Product Types
4. Insurance Products

These settings are available under: Settings → AUM & Insurance Settings

Wholesale Providers

Wholesale providers are optional. Use them if your firm works through BGAs, IMOs, or other intermediaries.

Insurance Companies

Insurance companies are the carriers that issue the policy or annuity, such as Nationwide, Allianz, or Pacific Life.

Insurance Product Types

Product types help you organize products into categories such as:

• Fixed Annuity
• Variable Annuity
• Term Life
• Whole Life
• Long-Term Care

Insurance Products

Each insurance product is linked to a carrier and can also be linked to a product type. Use clear product names so they are easy to recognize later in dropdowns.

How to Add a Product Commission

1. Go to Settings → AUM & Insurance Settings → Insurance product commissions.
2. Click Add commission.
3. Select the insurance product.
4. Enter an Age range start and Age range end if the commission varies by age.
5. Enter the Street level commission as a percentage.
6. Click Save.

Tip: Enter the commission as a percentage, not a decimal. For example, enter 7.5 for 7.5%, not 0.075.

When to Use Age Ranges

If a product pays different commissions based on the client’s age, create one commission entry for each age band.

Example:

• Age 0–65 → 7.5%
• Age 66–75 → 5.0%
• Age 76–85 → 3.0%

If the product pays the same commission for all ages, create one commission entry and leave both age range fields blank. That option appears as All Ages when selecting the commission on an account.

Important: Avoid gaps or overlaps in age ranges. Make sure your age bands cover the full set of ages you expect to use.

How Commissions Are Applied to Accounts

When creating or editing an account with the type Insurance & Annuity Products, LeadCenter applies the commission through three selections:

1. Insurance company
2. Insurance product
3. Product age range

Once you select the product age range, LeadCenter shows the matching commission percentage. When the account status is set to Issued, that commission is applied automatically as the account’s product fee.

Note: Insurance company, product, and age range are required only when the account status is Issued. For other statuses, those fields can remain blank.

Override a Company Commission on an Account

If you need a special rate for one account, you can override the standard company commission.

1. Open the account.
2. From the account actions, click Override company commission.
3. Enter the new commission percentage.
4. Click Save.

The account will then use the override instead of the standard product commission band. An (Overridden) label appears next to the commission on the account.

To go back to the standard commission, use Remove company commission override from the account actions.

Best Practices

• Set up wholesale providers and carriers before creating products.
• Use clear product names so they are easy to identify in dropdowns.
• Create age-banded commissions only when rates actually vary by age.
• Use one all-ages commission when the rate is the same for every client age.
• Review your commission entries periodically as carrier rates change.
• Use overrides only for exceptions, not as your normal setup method.
• Add an account note when using an override so your team knows why the rate is different.

Frequently Asked Questions

Is there a separate section for annuities?

No. Insurance and annuity products are managed together under the same insurance product setup. Use product types if you want to distinguish annuities from other insurance products.

Do I have to set up wholesale providers?

No. Wholesale providers are optional. You can create insurance companies without linking them to a wholesale provider.

Can I have multiple commission rates for the same product?

Yes. Use age ranges to create separate commission entries for different client age bands.

What if the commission is the same for all ages?

Create one commission entry and leave the age range start and end blank. It will appear as All Ages on the account.

When is the commission applied to the account?

The commission is applied when the account status is set to Issued.

If I update a commission entry, will existing accounts update automatically?

No. Existing issued accounts keep the commission that was applied when they were issued. Updated commission entries affect only future issued accounts.

Does overriding the company commission affect the advisor commission?

No. Company commission overrides and advisor commission overrides are managed separately.

Can I delete an insurance company or product that already has accounts?

The system may allow it, but it is not recommended. Check whether products, commission entries, or accounts are already linked before deleting.

If you need help setting up insurance and annuity product commissions, contact support@leadcenter.ai.