Rate Table Set
Contents
A rate table set is a group of rate tables all having the same name. Within this group of tables will be:
•Agency rate tables
•Producer rate tables
•Manager rate tables
There may also be custom rate tables for a particular producer or manager.
The rate table set has all of the percentages and dollar amounts needed to calculate the commissions received by the agency and paid to others by the agency. It may include the percentage of premium the insurance company pays on the basic premium and on excess premiums. It may also include overrides paid by the company for expenses.
Rate table sets may also include commissions paid as a percentage of the agency commission, dollars per participant, and fixed amounts paid periodically. They may also include percentages that are paid based on the cash value of an insurance contract.
All of these values are brought together on the Maintaining Rate Table Screen.
See Also