Grade Code Report
|
Description |
This report lists every grade code and associated percentages in the system. |
| Filter | None |
| Sort | Carrier Name + Grade Code |
| Column Name | Description |
| Carrier / Grade Code | Name of the carrier this grade code is associated
with. Name of the grade code. |
| Comm. Year | This corresponds directly to the term of the policy. Policies that have been renewed twice since their origination would be considered to be in their 3rd term. Commission year 3 would be used to calculate the correct commission. |
| Premium | This is the premium schedule used to calculate the commission. In this example, the first $1,000 dollars of premium in the first commission year will receive a 20% commission. The next $4,000 of premium would also receive a 20% commission. However, the next $5,000 of premium would only receive a 15% commission. |
| Comm. Rate | The percentage of the premium to be paid to the agency. |