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Creating & Updating Projection Tables

Overview

To calculate the commissions you expect to receive, you need to create a Projection Table.  As covered in the Basics of Projection Tables article, these tables contain commission values to calculate the results. Each projection table includes a duration of time, a commission type, and expected amounts. Projection Tables then combine with Policy information to generate the results for each associated policy.

IN THIS ARTICLE

Create a Projection Table
Update a Projection Table

Create a Projection Table

There are two ways to create a Projection Table. When you plan on using a table for multiple policies, it is best to create a Projection Table. If you have a policy with a unique commission structure, it may benefit you to use a Manual Projection Table on a policy tailored to that unique situation.

  • Projection Table - Can be used across multiple policies
  • Manual Projection Table - Unique to a specific policy

Step 1: Create a Projection Table 

Creating a projection table is the first step in the process. To create a Projection Table:

Projection Table

  1. From the Commission area, select the Manage Projection Tables link.
    Select Manage Projection Tables
  2. Select Create New.
    Select Create New
  3. Enter Your Projection Table Details

Manual Projection Table Select a Policy

  1. Go to the Commissions Tab and Select Projected Commissions.
    Select Projected Commissions
  2. In the Project Table drop down, Select Manual Projection Table.
    Select Manual Projection Table

Step 2: Setup Expected Commissions

(Both projections tables types)
Now, we’ll set up how much you expect to get paid for each part of a policy’s existence. You can create up to 5 timeframes. Structure the timeframes to match your specific commission scenarios and structures. Check out our Example Projection Tables at the end of this article for a few ideas.

  1. Enter Months from Effective Date
    Sets the duration you plan to receive the expected amount using months from a Policies effective date. The time periods work in conjunction with a commission frequency on the Policy level, taking into consideration the effective date.

    Example:  If you create a timeframe for months 1 to 12. For a Policy with a Commission Frequency of Annually, the system will expect to receive commissions 1 time months 1 to 12. If a different policy associated to the same table has a Commission Frequency of Bi-Monthly, the system will expect to receive commissions 6 times over that same period.
  2. Select the Commission Type: 
    Select the type of commission you expect to receive for this timeframe. The options are:   Flat Amount($),  % of Premium (%),  Per Life($).
  3. Enter the Expected Amount:
    Enter the amount as a % or $, based on your selection of Commission Type.

    Setup Expected Commissions


Step 3: Save your Changes

(Both projection table types)
Save your entries and get ready to associate the Projection Table to see your expected commissions. Check the Article on Associating Projection Tables with Policies for details.

Update a Projection Table

After you create your Projection Table, you may need to change the details to refine your projections or based upon changing commission agreements. When you need to update a table, find your table by select Manage Projection Tables and then select the table you need to update.

Change and tweak data as needed to adjust your projections. Once completed, save your changes. If a projection table is associated with policies, the system will automatically recalculate new projections based on your changes.

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