Fees and Commission
Our recommendation of the most suitable provider is driven by a range of factors, finding the lowest premium for our clients being a key consideration.
We do not charge fees, our income is earned through commission paid by providers.
A typical example of our commission would be a mortgage protection policy costing €31.25 per month. The annual premium would work out at €375. The initial commission we would receive in year 1 on this policy would be in the region of €500 to €562, depending on the provider.
Typical commission received from our Life Insurance providers is as follows: The majority of our business is conducted through Royal London and Zurich as they generally provide the most competitive prices,
Royal London - Average commission is 1.33 times the first years premium. Commission up to 1.8 times the premium may be given and in this situation a claw period of 5 years can apply.
Zurich - Average commission is 1.5 times the First year's Premium.
Aviva, New Ireland, Irish Life - Commission rates with Aviva, New Ireland and Irish Life are typically in the region of 1.5 times the first years premium.
Renewal commission
We also receive a small renewal premium each year of 3% of the premium, If the premium is €375 we would receive €11.25 per annum from year 2 onward.
Claw-back of commission
The life insurance Company may claw back commission if the policy is cancelled in the first 18 months, on a pro-rata basis.