Interesting idea. I can't see how it would work though. One, why would you do it that way? Two, if it did, then poor performance should cause the target premium to rise, not fall. So if anything, it should generate a higher commission. I can't see how poor performance would lead to a lower target premium as if anything the policy now needs more money, not less. Again, an interesting idea. I simply don't see how it would generate a chargeback in a situation like this. Of course, why in the world would a company chargeback commission because an IUL under-performed?