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Target premium is the amount that the agent's commission is based off of. It is neither the planned premium or minimum premium to keep the policy in force. Sometimes called the "commissionable premium."
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What does Net of Commission mean. can anyone help to define please?
In insurance, it is the policy premium without the producer or broker's commission. So, if your premium is $100,000 and commission is 7%, Gross Written Premium is $107,000. Your premium net of commission is $100,000.
What does the word premium mean?
Premium is an amount to be paid for an insurance policy or something given as an award.
Does premium mean vanilla yes?
yes
Is Target a proper noun?
Yes, the word 'target' is a common noun, a word for any target of any kind.A proper noun is the name of a specific person, place, thing, or a title; for example:Target Street, Charleston, SC and Target Street, Auckland, New ZealandHotel Target Inn, Rome, ItalyTarget Auto Body, Cleveland, OH"Target", 1985 movie with Gene Hackman, Matt Dillon"Soft Target", a novel by Stephen Hunter
What is another word for the right amount?
Target as in target quantity
What is premium target for lic mdrt?
The premium target for Lic MDRT is Rs.30.70 Lacs in a calender year. Alternatively, commission earning in a calender year should be Rs.7.50 lacs to achieve MDRT target. If the achiever fails to achieve the target next year, his MDRT accreditation will be cancelled for that year.
What is a rolling target?
Target premium only refers to the amount that the insurance broker or agent's commission is based on. A rolling target means that the broker will be paid commission (a percentage of the target) for up to two years if the target premium is not met in the first year. In some cases, this may an indicator of an under funded policy, but not always. You may want to seek the advice of multiple professionals if you are unsure.
What if an adjustable target life insurance policy?
WHAT???? Updated: I think the asker meant what IS an adjustable target LI policy. An adjustable premium life insurance product is universal life. These terms are synonomous. The feature of this type of product is that the insured can pay more or less (not less than the minimum premium in the first five yrs of policy) and thereby increase the death benefit or the length of guarantee. The target premium is a amount based upon the calculations made at the time of the illustration. It takes into account the premiums, death benefit and product specs. Target premium is sometimes called the commissionable premium, because the agent's commissions for that policy are based off of it.
How can I make money with premium rate numbers?
Come up with a service that people are willing to pay for, that you can offer by phone.Get a premium number and set up your service on it.Advertise it to your target customers.Provide a good service with responsive customer service.
How do you calculate new business target for life insurance company?
It is calculate last year premium collection and cost of expenses and death ratio over all decide every financial year lic target related these things
How much is optimus prime premium edition at target?
55 cents each.Buy one get one free. 55 cents each.Buy one get one free.
What price must a company typically pay to buy another company?
the price will include some premium over the current market value of the target's equity.
What is the formula for annual premium?
Annual Premium= Annual Base Premium * Driver-Rating Factor To get annual base premium the formula is... Annual base Premium= Liability Premium + Collision Premium + Comprehensive Premium.
How would you use premium in a sentence?
"These sausages are Premium grade" Premium=Grade A
Is getting premium on tribal wars free?
no, you have to pay for premium points to become premium
What is gross premium car insurance?
Gross Premium is the Total premium indicated to be charged.
Net single premium and loading compute gross premium. How?
net single premium
