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Deferred Acquisition Costs - DAC |
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Deferred Acquisition Costs - DAC Typically used in the insurance industry, this is when a company defers the sales costs that are associated with acquiring a new customer over the term of the insurance contract. Notes: Most of the sales costs arise from referral commissions to external distributors and brokers.See also: Life Insurance How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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