Here are a few example projection tables based on a couple common commission scenarios to help you get started creating your own projection tables. Let us know if you think of any others!
IN THIS ARTICLE
Flat Rate Projection Table
This example projection table is for when you would expect to receive the same commission dollar amount each month for the entire life of a policy.
Per Life Projection Table
If a policy's commission is based on the number of lives, you can set to project commission uses lives to calculate the projected commissions. This example projection table is for when you would expect to receive a dollar amount for each life covered under a policy for duration of the policy.
Reminder: Make sure you have Lives field on Policy Detail populated.
Percent of Premium Projection Table
When you are paid commission based on a percentage of premium, you can set a projection table as shown below. The example below shows a projection table where you would expect to receive 6% of premium as a commission for the first year of the policy and then 2% thereafter.
Reminder: Make sure you have Premium on Policy Detail or Commisionable Premium under Commission settings populated
9 Month Advance with a Monthly Frequency
If you receive a commission advance at the onset of a policy and then a steady stream of commissions after that, you can set up a projection table as shown below. The example below shows a scenario where you would expect to receive 95% of premium in the first month, no commissions from months 2 to 9, then 10% of the premium for the remainder of the policy's existence.
Reminder: Make sure you have associated policies Commission Frequency set as Advance + Frequency under Commission Setting. Also, make sure any other data is populated as needed - premium or lives.