Commissions are paid during the last week of each month. Bold Penguin receives commission statements from the carriers on the 15th of every month. Commissions are thus processed at the end of the month for the previous month’s activity via direct deposit with the bank account on file. For example, any policies bound and effective in January will be paid out at the end of February.

A note about monthly commission payments:

Several carriers, like biBERK for example, pay commission as it is earned each month. Therefore, instead of being paid the full commission for the annual premium amount once the policy is bound, agents will receive a monthly commission reflecting the premium paid to the carrier.