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If I'm gonna off topic ill try to keep it somewhere in the ballpark...
Can somebody explain this to me?
ModalFactors: MonthlyEFT .087 ModalCertificateFee:MonthlyEFT $2.61 Quarterly .265 Quarterly $7.95 Semi-AnnualAnnual .52 1.0 Semi-AnnualAnnual $15.60
[(RateXModalFactor)roundedto2placesX(Units)]rounded2places+ ModalCertificateFee=ModalPremium $30.00 [(36X0.087)=3.132–>3.13X10–>31.30]+2.61=33.91monthlyEFT premium
joshuaejones1 said:If I'm gonna off topic ill try to keep it somewhere in the ballpark...
Can somebody explain this to me?
ModalFactors: MonthlyEFT .087 ModalCertificateFee:MonthlyEFT $2.61 Quarterly .265 Quarterly $7.95 Semi-AnnualAnnual .52 1.0 Semi-AnnualAnnual $15.60
[(RateXModalFactor)roundedto2placesX(Units)]rounded2places+ ModalCertificateFee=ModalPremium $30.00 [(36X0.087)=3.132->3.13X10->31.30]+2.61=33.91monthlyEFT premium
The modal factor is what you multiply the annual premium by to get the premium for that modal ie say $1000 annual premium would be 87 a month and then I would guess you add the modal certificate fee....I am guessing this is a fraternal so then add 2.61 which would be 89.61 per month in my example.
Just an observation if this is confusing you need to sit with your upline and have them explain this as they do get an override on your business if not hook up with one of the guys on here like Todd King, Mark Rosenthal, Newby etc.