Collection fee

{
  "id": "MLC-T-INS-000819",
  "term": "Collection fee",
  "field": "Insurance and risk management",
  "definition": "A payment an insurer makes to an agent for collecting premiums from policyholders, used instead of or alongside a standard sales commission. It is usually a percentage of the premium collected and is associated with door-to-door lines such as home service and industrial life insurance. It differs from a late charge, which is billed to the policyholder.",
  "url": "https://mlchart.com/terminology/insurance/collection-fee/"
}