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Term Number

The Term Number tracks how many times a policy has renewed and determines which commission rate to apply from the Carrier Commission Table.

💡 Why Use This

The Term Number drives commission rate selection on every payment:

  • New Business vs. Renewal rates — Carrier tables use the Term Number to choose between higher first-year rates and lower renewal rates.
  • Renewal accuracy — Renewing an existing policy (rather than creating a new one) ensures the Term Number increases correctly so the right rate applies.
  • Troubleshooting rate issues — If a renewal is paying at the new-business rate, an incorrect Term Number is often the cause.

🗺️ How to Access

The Term Number is displayed on the Policy screen within the Carrier Payment Details section. It is calculated automatically based on the Origination Date and the current Term Effective Date.

Key Rules

  • New Policies — Always Term 1.
  • Renewals — Increases by 1 each year (Term 2, Term 3, etc.).
  • Commission Logic — Carrier Commission Tables use the Term Number to select between "New Business" and "Renewal" pay scales.

Policy Term Info

Carrier Table Example

🔧 Troubleshooting

A renewal policy is paying at the new-business rate. Check the Term Number on the policy. If it shows Term 1, verify the Origination Date — if it was accidentally set to the current term's start date, the system calculates Term 1. Correct the Origination Date to the actual start of the policy's first term.

The Term Number is not increasing after renewal. Ensure you are using the Renew Policy function rather than creating a new policy record for the client. Creating a new record always starts at Term 1.

Need help? Contact support@commission-tracker.com