AIA's Sharron Botica takes out Insurance Professional of the Year award
FMA Seminars for SMEs on new regime

More industry commission changes

AIA has announced additional commission to help push its new AIA Living range with Vitality. It has also clarified that commission is paid on the premium before applying the AIA Vitality discount. 

Asteron Life have announced that from the 19th of August there will be the following changes to their commission structure:

"We will be streamlining our commission structure to remove the Production Bonus element of our commissions. Initial Commission for new business will be increased instead, which means there is no change to the overall commission you will receive. Our Flexi-Rate options are also being expanded. The purpose of this change is to provide you with more options, and to give greater flexibility to advisers who want to offer discounts to customers. You will now be able to add a discount of up to 30% for customers and choose whether it’s offset against Initial Commission, Servicing Commission or both. Once a discount has been selected, this will be applied immediately to any quotes done through AsteronConnect. When it comes to new business applications in the pipeline, anything which has not been issued before the changes go live on 19th August will need to be requoted using the new Flexi-Rates." 


Feed You can follow this conversation by subscribing to the comment feed for this post.

The comments to this entry are closed.