Oracle® Insurance Policy Administration 9.1.0.0.0 E15811-01

# Commission

The Commission activity triggers the part of an insurance premium paid by the insurance company to an agent or financial advisor for his services in procuring and servicing the insurance. For the Variable Annuity product, 5% of the Initial Premium is paid as commission to the financial advisor of the policy. This activity is automatically generated by the Initial Premium activity.

The system automatically calculates the commission amount. The details of the calculation can be viewed by clicking the activity detail icon.