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Revenues from Contracts with Customers | 12 Months Ended
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Jun. 30, 2021
Revenue from Contract with Customer [Abstract] |
Revenues from Contracts with Customers | REVENUES FROM CONTRACTS WITH CUSTOMERS Disaggregation of Revenue from Contracts with Customers—The disaggregation of revenue by segment and product is depicted for the periods presented below, and is consistent with how the Company evaluates its financial performance:
|  | Year Ended June 30,
(in thousands) |  | 2021 |  | 2020 |  | 2019
Senior: |  |  |  |  |  |
Commission revenue: |  |  |  |  |  |
Medicare advantage |  | $ | 595,132 |  |  | $ | 285,957 |  |  | $ | 138,526 |
Medicare supplement |  | 23,431 |  |  | 34,301 |  |  | 25,118 |
Prescription drug plan |  | 1,652 |  |  | 2,867 |  |  | 3,209 |
Dental, vision, and health |  | 15,969 |  |  | 7,758 |  |  | 4,470 |
Other commission revenue |  | 2,156 |  |  | 362 |  |  | 2,526 |
Total commission revenue |  | 638,340 |  |  | 331,245 |  |  | 173,849 |
Production bonus and other revenue |  | 90,361 |  |  | 30,428 |  |  | 18,408 |
Total Senior revenue |  | 728,701 |  |  | 361,673 |  |  | 192,257 |
Life: |  |  |  |  |  |
Commission revenue: |  |  |  |  |  |
Core |  | 79,666 |  |  | 75,236 |  |  | 76,135 |
Final expense |  | 78,764 |  |  | 30,592 |  |  | 11,057 |
Ancillary |  | 4,219 |  |  | 2,036 |  |  | 2,054 |
Total commission revenue |  | 162,649 |  |  | 107,864 |  |  | 89,246 |
Production bonus and other revenue |  | 22,854 |  |  | 22,103 |  |  | 21,247 |
Total Life revenue |  | 185,503 |  |  | 129,967 |  |  | 110,493 |
Auto & Home: |  |  |  |  |  |
Total commission revenue |  | 27,621 |  |  | 38,031 |  |  | 33,240 |
Production bonus and other revenue |  | 3,292 |  |  | 3,158 |  |  | 1,814 |
Total Auto & Home revenue |  | 30,913 |  |  | 41,189 |  |  | 35,054 |
Eliminations: |  |  |  |  |  |
Total commission revenue |  | (2,004) |  |  | (534) |  |  | (335) |
Production bonus and other revenue |  | (5,298) |  |  | (780) |  |  | — |
Total Elimination revenue |  | (7,302) |  |  | (1,314) |  |  | (335) |
Total commission revenue |  | 826,606 |  |  | 476,606 |  |  | 296,000 |
Total production bonus and other revenue |  | 111,209 |  |  | 54,909 |  |  | 41,469 |
Total revenue |  | $ | 937,815 |  |  | $ | 531,515 |  |  | $ | 337,469 |
Contract Balances—After a policy is sold, the Company has no material additional or recurring obligations to the policyholder or the insurance carrier. As such, there are no contract liabilities recorded in the consolidated balance sheets. During the year ended June 30, 2020, there was no activity in the contract asset balances other than the movement over time between long-term and short-term commissions receivable and accounts receivable as the policy is renewed, as shown on the balance sheet. A separate roll forward of commissions receivable (current and long term) for the year ended June 30, 2021, is shown below:
(in thousands) |  | 2021 |
Balance as of June 30, 2020 |  | $ | 512,961 |  |
Commission revenue from revenue recognized |  | 451,086 |  |
Net commission revenue adjustment from change in estimate |  | (6,968) |  |
Amounts recognized as accounts receivable |  | (111,182) |  |
Balance as of June 30, 2021 |  | $ | 845,897 |  |
Included in the $7.0 million of net commission revenue adjustments in the table above are increases for contract modifications that occurred during fiscal year 2021, decreases for the reassessment of our transaction prices on each of our cohorts, and increases related to the change in estimate, which modified the method in which we calculate persistency to use policy level persistency to calculate renewal commission revenue. Production Bonuses and Other—During the year ended June 30, 2021, the Company received advance payments of marketing development funds, which will be amortized over the course of the appropriate fiscal year based on policies sold. As of June 30, 2021, there was an unamortized balance remaining of $3.8 million of fiscal year 2022 marketing development funds recorded in other current liabilities in the consolidated balance sheet.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 + Details
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