Enter the premium amount and commission rate into the calculator to determine the insurance commission. This calculator can also evaluate any of the variables given the others are known.

## Insurance Commission Formula

The following formula is used to calculate the insurance commission. Variables:

IC = P * R

Variables:

- IC is the insurance commission ($) P is the premium amount ($) R is the commission rate (decimal)

To calculate the insurance commission, multiply the premium amount by the commission rate. The result is the insurance commission.

## How to Calculate Insurance Commission?

The following steps outline how to calculate the Insurance Commission.

- First, determine the premium amount ($).
- Next, determine the commission rate (decimal).
- Next, gather the formula from above = IC = P * R.
- Finally, calculate the Insurance Commission.
- After inserting the variables and calculating the result, check your answer with the calculator above.

**Example Problem : **

Use the following variables as an example problem to test your knowledge.

premium amount ($) = 500

commission rate (decimal) = 0.15