Commissions Module - Lesson 7: Statements & Reports

The Commissions Module equips participants with a practical understanding of how compensation flows across carriers, BGAs, and advisors, and why it is central to advisor retention and firm health. The course covers first-year, renewal, and trail commissions, as well as product-specific differences across life, annuities, hybrids, long-term care, and Medicare products.

Learners will explore inforce transactions that impact pay, regulatory considerations in states like New York, and how to resolve commission errors quickly to maintain trust. The module also introduces the role of technology and reporting systems in reconciling payments, managing hierarchies, and ensuring compliance. By the end, participants will be able to interpret statements, anticipate commission impacts, and support accurate, timely compensation across diverse product lines.

Lesson Overview:

Statements & Reports

This lesson introduces commission statements and reports as key tools for validating pay and managing business performance. Learners will explore how statements provide transaction-level detail while reports offer broader analysis. The lesson also addresses best practices for reconciling statements and preventing errors.

Learning Objectives

• Understand the purpose and structure of commission statements.

• Recognize how reports support business oversight and forecasting.

• Identify key data fields found in statements and reports.

• Explain best practices for reconciling payments and splits.

COURSE CONTRIBUTORS