Term Number
Overview
The Term Number tracks how many times a policy has renewed and determines which commission rate to apply.
🛠️ Key Rules
- New Policies: Always Term 1.
- Renewals: Increases by 1 each year (Term 2, Term 3, etc.).
- Commission Logic: Carrier Tables use the Term Number to choose between "New Business" and "Renewal" pay scales.
💡 Best Practices
- ✅ Renewal Accuracy: Ensure you are renewing policies rather than creating new ones for existing clients to maintain a proper Term Number history.
- ✅ Table Mapping: Double-check your Carrier Tables to ensure you have columns defined for Term 1 vs. Term 2+.
