The Mortgage Group^®

Variable closed:	2.85%
1 year closed:	3.14%
3 year closed:	3.39%
5 year closed:	3.49%
10 year closed:	4.04%

Mortgage Super Brokers > Library & Listings > Glossary > Definition: Account Current (AC)

Search the Glossary

GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

Account Current

Synonyms:	agent performance matrix, monthly statement, premiums, commissions, cancellations tally
Acronyms & abbreviations:	AC
Notes:	A monthly or yearly ledger style report provided by an insurer to an insurance agent detailing policies, premiums, commissions, cancellations, and endorsements.
Filed Under:	insurance
Tags:	insurance

Definition of account current (AC)

account current (AC): 1. A ledger used in insurance accounting to determine the individual performance of the insurance agents employed by an insurance company, in addition to outlining policy cancellations, commissions earned, and premiums paid.

Related Terms and Acronyms:

expense ratio A method of calculating an insurer's operating efficiency.
insurance score A score used by those in the insurance industry to determine how likely a claim will need to be paid out for an individual or entity.
net premium The total earned by an insurer in insurance premiums, less the agent's commissions.
premium balances A ledger kept by insurance companies recording insurance premiums.
premiums written A sum of the premiums from all the policies that a company has written in a given period of time.
retained earnings All of the profits or losses accumulated from prior years and from the present year's income statement, minus dividends paid to you.

Search the Glossary

Try Our Mortgage Calculator Now

Did you know that by increasing your down payment from 5% to 20% on a $500,000 home you can save yourself almost $11,000 in interest and over $13,000 in CMHC mortgage insurance premiums? Try our mortgage calculator and find out how a simple change in your down payment amount can save you thousands of dollars.

Mortgage Rates Chart

Your money goes a lot further when you pay your home off with low interest rate. Make sure your mortgage isn't weighing you down with high rates and ridiculous payments. View our mortgage rates chart to find the best interest rates in Canada.

Mortgage Brokers

Banks offer you insultingly high interest rates and expect you to haggle them down because they know not everyone has the time, effort or knowhow to get a low rate. Our mortgage brokers, on the other hand, will offer you the best rates from the get-go.

The Mortgage Group®

Search the Glossary

Canadian Financial, Real Estate and Mortgage Glossary

Account Current

Definition of account current (AC)

Related Terms and Acronyms:

Search the Glossary

The Mortgage Group^®