Making a schedule
Commission schedules are a unique part of the MPCRM platform. This tool allows you to define how you are paid on non-CMS products like ancillary, life insurance, or under 65 plans.
While it may seem complicated or daunting, this guide will help outline all the components and how to easily set a schedule up.
The variables
Type - Either fixed rate or a percentage. Basically how you get paid.
Advance - This is helpful for tracking pending business and the projected commission. If you get paid "as earned" select "AE" or "1 month".
States - If you have different commission rates for the same product but in different states, you can make multiple versions of the same company/product schedule and define which states a particular schedule should apply to. By state we mean the residency of the client.
Age Range - Much like states, you can make different schedules for the same company/product but have different commission values based on the age of the client.
Policy Effective Date Range - If a company/product changes its broker commission rates for policies issued after a certain date, you can make a new schedule that isolates for policies within a particular date range.
Ranges/Bands - These are the values, either fixed rate or percentages, that the system will use to run calculations. You can make as many range bands as necessary, defining how you are paid in each year of the policy.
Max Lives - This typically applies to under 65 plans. Setting this value will cap off how many lives the schedule will calculate for. For example: if you set up a commission schedule to pay $25 per insured on the policy and the policy has 5 lives on it but the carrier only pays a max of 4 lives, you would set the "Max Lives" value to 4.
Written As - If you have marked a policy as "AOR Change" you can make a separate schedule and make the "Written as" to "AOR Change"