Policies
Import Client Policies
Customer policies can be imported using Excel templates with pre-defined columns based on the type of commission paid on the policy. There are five templates to choose from. Percentage of Premium Medicare Advantage & Prescription Drug Plans Fee ...
Client Types
There are three types of clients available. Individual - An individual client is a single person who owns one or more policies. An individual's first and last name are required. Typical individual policies include: Term Life Disability Medicare ...
Fee Policy - Add, Edit, Duplicate and Delete
A Fee comp plan can be used for individual or group medical insurance. The fee is the amount of compensation paid to the agent and is added to a comp plan. The number of lives is entered at the policy level and multiplied times the fee from the comp ...
Medicare Advantage Policy - Add, Edit, Duplicate and Delete
Medicare Advantage and Prescription Drug policies pay a fee that is determined annually by the Centers for Medicare and Medicaid Services. Depending on the enrollment type, the first-year fee can be paid in full or pro-rated. Renewals always begin on ...
Target Premium Policy - Add Edit Duplicate Delete
A Target Premium policy can be a universal life or other life policy that pays a base commission on “target premium” as determined by the carrier. A lower commission is usually paid on the “excess” premium above the target amount. Commissions can be ...
Graded Policy - Add Edit Duplicate Delete
A Graded policy pays a decreasing percentage of premium. As the accumulated premium increases throughout the year, the commission rate goes down. These plans are common with employer provided insurance such as group life, dental, LTD and STD. Add Go ...
Percentage of Premium Policy - Add Edit Duplicate Delete
A Percentage of Premium policy pays a commission based on a percentage of the premium paid. The percentage can vary from year to year and commissions can be advanced during the first year, renewal, or both. Examples of products that pay a percentage ...
Paid Commissions
Paid commissions are those that have been imported and matched to a policy. Once a commission has been imported, or added manually, it can be posted to a policy. Posting is the process of matching a commission from the statement to a policy. Paid ...
Policy Increases
A Policy Increase is an addition to an existing policy with a separate premium, effective date, and commission. An example of a Policy Increase is an automatic increase in benefit to an individual disability policy. A new commission is paid on the ...
Other Comp (Overrides or Bonuses)
Overrides and bonuses for a policy can be added to a policy import template or added manually to a policy. An example of Other Comp is an override, bonus, or additional fee paid in addition to the base commission. Add the Other Comp to the policy ...
Riders
Riders for a policy can be added to a policy import template or manually added to a policy. An example of a rider is a Children's Term Rider that is added to a parent's life insurance policy. Add the rider to the policy only if it pays a separate ...
5-Year Revenue
A 5-Year Revenue projection is available for each policy that has a comp plan linked to it. Revenue is projected for the the next 5 years using the current date. Calculations are displayed annually and by policy mode. 5-Year Revenue Projection Go to ...
Policies - Add Edit Duplicate Delete
Policies are located on the Policy page. Add Go to the Main Menu. Click Policies. Click ADD POLICY. Select a Client Type. Depending on the Client Type, add a Client Name and/or a Group Name. Select an Agent. If more than one agent, only add the ...
Policies Overview
The Policies page displays a list of all customer policies and any riders, other comp or policy increases linked to them. To View the Policy Page Go to the Main Menu. Click Policies. Click the help icon to open topics specific to the current page, or ...