For advisors in Singapore
How insurance agents in Singapore get paid
Most life insurance agents in Singapore aren't on a salary. They earn commission from each policy they sell, paid by the insurer over several years, plus bonuses, and a share of their team's business once they lead one.
Here is how each part works, the rules MAS sets on top, and what the official wage figures do and don't tell you. Every number on this page comes from MAS, MOM or LIA, listed at the bottom.
Where the money comes from
- First-year commission
- Paid by the insurer when a client buys a policy and pays the first year's premium. It is the largest single payment. For a regular premium life policy, the law caps it at 55% of the total commission on that policy.
- Renewal commission
- The other 45% or more, paid as the client keeps paying. For a regular premium life policy it is spread over at least six years, or the premium payment term if that's shorter. If the policy lapses, the payments still to come stop.
- Overriding commission
- Managers and unit leaders earn a share on the business their team writes, on top of their own sales. This is how most agency leaders are paid for building a team.
- Bonuses and incentives
- Production bonuses, persistency bonuses for clients who keep their policies, and qualifying trips and conventions. Each company sets its own, so ask to see the terms before you join.
- Salary, for some
- Agents and representatives employed by banks, brokers and some advisory firms get a basic salary plus variable pay. Most tied agents at insurers are on commission only.
The 55% rule
For a regular premium life policy applied for on or after 1 April 2017, the insurer must spread your commission over at least six years, or the premium payment term if that's shorter. No more than 55% of the total can be paid in the first year.
Single premium policies are outside this rule, and so are policies owned by a company (not a sole proprietor) that insure two or more people.
In practice, at least 45% of what a sale earns you arrives after the first year, and only if the client keeps paying. An agent whose clients keep their policies earns more from the same sales than one whose clients drop off.
The balanced scorecard
MAS ties part of your variable pay to how you sell, not only how much. Every quarter, an independent sales audit team checks a sample of your cases against four non-sales measures:
- Understanding the client's needs
- Suitability of the product recommended
- Adequacy of information disclosed
- Standards of professionalism and ethical conduct
Your grade decides how much of the measured pay you keep. On commission only, 60% of your variable income for the quarter is measured; with a salary, all of the variable part is.
| Grade | Cases with infractions in the quarter | Measured pay you keep |
|---|---|---|
| A | Under 5% of sampled cases, or one case with a Category 2 infraction | 100% |
| B | 5% to under 10%, or two cases | 75% to under 100% |
| C | 10% to under 20%, or three cases | 50% to under 75% |
| D | 20% to under 30%, or four cases | 25% to under 50% |
| E | 30% or more, five or more cases, or any Category 1 infraction | 0% to under 25% |
Category 1 infractions are the serious ones. One of MAS's own examples: recommending a mortgage term policy without asking whether the client's existing cover already protects the loan. Your supervisor's grade also depends on their team's.
What the wage figures show
MOM's June 2025 survey puts the median gross monthly wage for an insurance sales agent or broker at S$6,050. The middle half earn between S$4,500 and S$8,890.
Read those with care. The survey covers full-time resident employees only, so it describes salaried roles at banks, brokers and firms. Self-employed agents on commission only, which is most tied agents, are not in it. Their income is far less even: thin in a first year while the client base is small, and much higher for the agents whose renewals have built up over years.
What clients can see
Insurers must show the distribution cost of a life policy in its policy illustration, alongside the total deductions. Distribution cost covers the commission paid to the agent and the insurer's other costs of selling the policy. Clients who ask what you earn can usually find a good part of the answer there.
Renewals are earned after the sale
At least 45% of the commission on a regular premium policy only arrives if the client is still paying in year two and beyond. That comes down to the reviews done on time, the birthday remembered, and the call when something changes in their life. AdvisorKin keeps every client's dates and notes, and each morning tells you who to follow up and why.
Questions agents ask
- Do insurance agents in Singapore get a basic salary?
- Most tied agents at insurers don't. They are paid commission on the policies they sell, plus any bonuses their company offers. Representatives employed by banks, brokers and some advisory firms get a basic salary with variable pay on top. Terms differ by company, so read the contract before you join.
- How much commission does an insurance agent get in Singapore?
- It depends on the product and the insurer, and commission schedules aren't public. What the law does set is the timing: for a regular premium life policy, no more than 55% of the total commission can be paid in the first year, and the rest is spread over at least six years, or the premium payment term if shorter. Clients can see the total distribution cost, which includes commission, in the policy illustration.
- How much do insurance agents earn in Singapore?
- MOM's June 2025 wage survey puts the median gross monthly wage for an insurance sales agent or broker at S$6,050, with the middle half earning between S$4,500 and S$8,890. That survey only covers full-time resident employees, so self-employed agents on commission only are not in it. Their income varies far more, from very little in a slow first year to many times that for top producers.
- What happens to my commission if a client stops paying?
- The renewal commission still to come on that policy stops when it lapses. Whether commission already paid has to be returned, and over what period, depends on your contract with your company, so check that clause before you sign.
- What is the balanced scorecard?
- MAS's framework that ties part of a representative's variable pay to four non-sales measures: understanding the client's needs, suitable recommendations, proper disclosure, and professional conduct. Each quarter an independent team checks a sample of your cases and gives you a grade from A to E. An A keeps all of the pay being measured; an E keeps less than a quarter of it.
- How much of my commission does the balanced scorecard measure?
- If you are paid by commission only, 60% of your variable income each quarter is measured against the non-sales KPIs. If you have a salary plus variable pay, all of the variable pay is measured. So on commission only, the most an E grade can cost you is most of that 60%, not your whole income.
- What is overriding commission?
- A payment to managers and unit leaders based on the business their team writes. In July 2024 MAS said advisory firms will be limited to three tiers (representative, supervisor, manager) and may pay overriding benefits to at most two supervisors for each representative. As of early 2026 those changes were still to be written into law.
- How does MDRT relate to commission?
- MDRT, the Million Dollar Round Table, is reached by hitting a yearly level of commission, premium or income. Its Singapore figures and a calculator are on our MDRT requirements page.
Sources, checked 4 October 2026. This page explains the general rules; it isn't legal or career advice.
- Financial Advisers (Remuneration) Regulations 2015, as summarised in Clifford Chance, Horizon Scanner: Insurance Distribution in Hong Kong and Singapore (February 2026)
- MAS Notice FAA-N20, Balanced Scorecard Framework (as amended 29 December 2025)
- MAS Guidelines FAA-G14, Balanced Scorecard Framework (last revised 29 December 2025)
- MOM, Occupational Wages Table 4, June 2025
- LIA, Guidelines on Policy Illustrations, Cover Page and Bundled Product Disclosure
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