{"id":10496,"date":"2025-10-02T12:03:35","date_gmt":"2025-10-02T04:03:35","guid":{"rendered":"https:\/\/doolounge.com\/fyc\/"},"modified":"2025-10-02T12:03:35","modified_gmt":"2025-10-02T04:03:35","slug":"fyc","status":"publish","type":"post","link":"https:\/\/doolounge.com\/en\/fyc\/","title":{"rendered":"Some simple terms in insurance"},"content":{"rendered":"

I found that many of my colleagues in the insurance industry don\u2019t understand the meaning of those English abbreviations. I will briefly explain the monetary aspects of premiums and commissions to give everyone a clearer understanding.

"FYC" is the abbreviation of First Year Commission, and its full Chinese name is "First Year Commission".

It refers to the commission that an insurance agent can receive in the first year, which is usually calculated based on a certain percentage of the first year's premium.<\/p>\n\n\n\n

<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

For many insurance agents, the first-year commission is their most important source of income in the new year.

The first year's commission is usually not paid in one lump sum, but in installments, for example, the commission ratio is split into several years.

The higher the protection component of the insurance product and the longer the payment period, the higher the commission ratio will be.

FYP (First Year Premium)

The first year's premium is the total premium paid by the customer in the first year.

FYB (First Year Brokerage):

The payment that an insurance company pays to an insurance broker is calculated based on the FYP multiplied by an agreed "agency fee rate".

RYC (Renewed Year Commission)

The renewal year commission is the commission received by the salesperson starting from the second policy year, which is usually a lower amount.

RYP (Renewed Year Premium)

Renewal annual premium refers to the premium paid annually by the customer starting from the second year.

Basically, as an insurance agent, if you don\u2019t even understand your own commission allocation system, let alone how good you are at helping clients plan their financial problems! ?<\/p>","protected":false},"excerpt":{"rendered":"

"FYC" is the abbreviation of First Year Commission, and its full Chinese name is "First Year Commission".\u00a0<\/p>\n

It refers to the commission that an insurance agent can receive in the first year, which is usually calculated based on a certain percentage of the first year's premium.<\/p>","protected":false},"author":2,"featured_media":10495,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"activitypub_content_warning":"","activitypub_content_visibility":"","activitypub_max_image_attachments":4,"activitypub_interaction_policy_quote":"anyone","activitypub_status":"federated","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false,"beyondwords_generate_audio":"","beyondwords_project_id":"","beyondwords_content_id":"","beyondwords_player_style":"","beyondwords_language_id":"","beyondwords_title_voice_id":"","beyondwords_body_voice_id":"","beyondwords_summary_voice_id":"","beyondwords_error_message":"","beyondwords_disabled":"","beyondwords_delete_content":"","beyondwords_podcast_id":"","beyondwords_hash":"","publish_post_to_speechkit":"","speechkit_hash":"","speechkit_generate_audio":"","speechkit_project_id":"","speechkit_podcast_id":"","speechkit_error_message":"","speechkit_disabled":"","speechkit_access_key":"","speechkit_error":"","speechkit_info":"","speechkit_response":"","speechkit_retries":"","speechkit_updated_at":"","_speechkit_link":"","_speechkit_text":""},"categories":[860,1263,817],"tags":[1386,861,881,1258,784],"class_list":["post-10496","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insurance","category-secret","category-money","tag-1386","tag-861","tag-881","tag-1258","tag-784"],"blocksy_meta":[],"featured_image_urls":{"full":["https:\/\/doolounge.com\/wp-content\/uploads\/2025\/10\/fb_img_17593777563173145510457930813571.jpg",2000,1125,false],"thumbnail":["https:\/\/doolounge.com\/wp-content\/uploads\/2025\/10\/fb_img_17593777563173145510457930813571-150x150.jpg",150,150,true],"medium":["https:\/\/doolounge.com\/wp-content\/uploads\/2025\/10\/fb_img_17593777563173145510457930813571-300x169.jpg",300,169,true],"medium_large":["https:\/\/doolounge.com\/wp-content\/uploads\/2025\/10\/fb_img_17593777563173145510457930813571-768x432.jpg",768,432,true],"large":["https:\/\/doolounge.com\/wp-content\/uploads\/2025\/10\/fb_img_17593777563173145510457930813571-1024x576.jpg",1024,576,true],"1536x1536":["https:\/\/doolounge.com\/wp-content\/uploads\/2025\/10\/fb_img_17593777563173145510457930813571-1536x864.jpg",1536,864,true],"2048x2048":["https:\/\/doolounge.com\/wp-content\/uploads\/2025\/10\/fb_img_17593777563173145510457930813571.jpg",2000,1125,false],"trp-custom-language-flag":["https:\/\/doolounge.com\/wp-content\/uploads\/2025\/10\/fb_img_17593777563173145510457930813571-18x10.jpg",18,10,true]},"post_excerpt_stackable":"

\u300cFYC\u300d\u662f First Year Commission \u7684\u7e2e\u5beb\uff0c\u4e2d\u6587\u5168\u540d\u70ba\u300c\u9996\u5e74\u5ea6\u4f63\u91d1\u300d\u3002\u00a0<\/p>\n

\u6307\u7684\u662f\u4fdd\u96aa\u696d\u52d9\u54e1\u5728\u7b2c\u4e00\u5e74\u6240\u80fd\u9818\u53d6\u7684\u4f63\u91d1\uff0c\u901a\u5e38\u662f\u6839\u64da\u7b2c\u4e00\u5e74\u5ea6\u4fdd\u8cbb\u7684\u4e00\u5b9a\u6bd4\u4f8b\u8a08\u7b97\u800c\u4f86\u3002<\/p>\n","category_list":"\u4fdd\u96aa<\/a>, \u6709\u9322\u4eba\u7684\u79d8\u5bc6<\/a>, \u8ca1\u7d93<\/a>","author_info":{"name":"\u9673\u6cd5","url":"https:\/\/doolounge.com\/en\/author\/doolounge\/"},"comments_num":"0 comments","jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/doolounge.com\/wp-content\/uploads\/2025\/10\/fb_img_17593777563173145510457930813571.jpg","jetpack-related-posts":[],"jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/doolounge.com\/en\/wp-json\/wp\/v2\/posts\/10496","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/doolounge.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/doolounge.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/doolounge.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/doolounge.com\/en\/wp-json\/wp\/v2\/comments?post=10496"}],"version-history":[{"count":0,"href":"https:\/\/doolounge.com\/en\/wp-json\/wp\/v2\/posts\/10496\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/doolounge.com\/en\/wp-json\/wp\/v2\/media\/10495"}],"wp:attachment":[{"href":"https:\/\/doolounge.com\/en\/wp-json\/wp\/v2\/media?parent=10496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/doolounge.com\/en\/wp-json\/wp\/v2\/categories?post=10496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/doolounge.com\/en\/wp-json\/wp\/v2\/tags?post=10496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}