How Can You Pay Life Insurance Cashback – Critical Illness Cashback?
Insurance companies price their products based on paying commission for advice even if you go direct and don’t get any. We therefore reward you for placing the application with us in the form of a rebate of some of that commission as long as you agree to our terms and conditions should the policy stop within the commission earnings period. Commission on life and critical illness insurance is paid ‘up-front’ and describes the situation where a provider would pays us an amount of money based on a percentage of the first year’s premiums for a regular premium contract. This sum is paid immediately on commencement, on the assumption that the policy will stay in force for a number of months/years (‘the earnings period’). Should you stop paying premiums within the ‘earnings period’ (generally between 24 and 48 months), then the provider would ask us to repay the ‘unearned’ commission. You will therefore have to repay your share of this unearned commission. If you do not accept those terms tha
