Commission Statement Guide
This document is provided as an explanation of the fields contained on the Producer’s Commission Statement. Also, there is a detail of some general categories following the field definition. Not all fields are applicable to all agents.
1. Agent Identification Information (Including agent code, name, and address)
2. Policy Number: Policy number of the application being paid.
3. Name/Desc: Insured’s Name or description of adjustments.
4. Issue Age: Insured’s age as of policy effective date.
5. Eff. Date: Issue effective date of the policy.
6. Plan: Plan code for the type of policy written.
7. Trdt: Transaction Date is the effective date of the commissionable event.
8. Prdt: Process Date identifies the date on which the Premium and Commission Data was processed.
9. Months: This is the premium months paid and/or accumulated months advanced.
10. Du: Duration of the policy.
11. Pro: Commission profile – internal use.
12. Lv: Commission hierarchy level
13. Base Amount: This is the premium amount used to calculate the commission paid and /or advanced.
14. Trx: Transaction code. The following items are most commonly displayed in this field:
o AE-NA - As-earned Commission Paid
o AJ - Adjustment Transaction (adjustment processed by home office)
o IA-NA - Advance Commission Paid
o AO-NA - Advance Offset-Advanced commissions previously paid on a policy
o AR-TL - Advance Recoupment Due to Lapse-Advanced commissions recovered.
o AR-BE - Advance Recoupment Due to reissue/change in New Business.
o PI - Interest on beginning advance balance.
o PE - Payment Deferred – A credit or debit has occurred, usually to the deferred (reserve) account.
o SV-TL - Chargeback Due to Lapse.
o SV-TA - Chargeback Due to Full Surrender.
o DE-PA - Chargeback Due to Death.
15. Rate: Applicable Commission Rate.
16. Split: Percentage split between agents (if applicable).
17. Amt: Amount used for advance activity.
18. Acct: this field displays an abbreviation of the account affected by this transaction : AD= Advance DE= Deferred (hold payment until future date)
19. Primary Balance: This field displays the commission amount payable.
20. If/How Commission pay as stated by one of the following:
o Amount Paid To Agent Via EFT
o Amount Paid To Agent Via Check
o Commissions Being Held
o Payable Amount Below Minimum
21. Account Balances
o Previous Balance: Ending balance last statement
o Activity: Activity this statement period
o Close Balance: Total of Previous Balance plus Activity less any disbursement
Additional Information
Within the commission statement the following breakdown of activity is shown with subtotals by writing agent(s):
· Miscellaneous Account Activity
· Advance Activity
· First Year Earnings Activity
· Renewal Earnings Activity
· Override Activity
· Chargeback Activity
