Why we get paid commission

Remuneration is paid to brokers for the transaction & placement of business with a Life/Insurance Company. The activities undertaken by the broker to receive this remuneration include:

 

  • Proposing the risk to the Life/Insurance Co
  • Assisting the Life/Insurance Co with any information required by them in relation to the risk
  • Commencing the policy & delivering all policy documents to the life/insurance Co
  • Collecting the premium on behalf of the Life/Insurance Co
  • Providing an annual review for consumers of their policy and financial requirements
  • Ensuring all staff are qualified in accordance with legislation to advice on products & services
  • Bearing all compliance & administration costs associated with transacting the business on behalf of the Life/Insurance Co
  • Assimilating the costs of implementing IT & security requirements from Insurers to ensure all online products are safely transacted on the consumers’ behalf
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