Our Charges
Maple Financial act as Broker between you, the consumer, and the product provider with whom we place your business.
The background
Pursuant to provision 4.58A of the Central Bank of Ireland’s September 2019 Addendum to the Consumer Protection Code, all Brokers, must make available in their public offices, or on their website if they have one, a summary of the details of all arrangements for any fee, commission, other reward or remuneration provided to the Broker which it has agreed with its product producers.
What is commission?
For the purpose of this document, commission is the payment earned by the Broker for work undertaken on behalf of both the provider and the consumer. The amount of commission is generally related to the quantity or value of the products sold.
We are remunerated by commission and other payments from product producers. When assessing products, we will consider the different approach taken by product providers in terms of them integrating sustainability risks into their product offering. This will form part of our analysis for choosing a product provider. Our Brokerage commission options are displayed as a range, showing the maximum amount which can be received. The level of commission depends on individual circumstances, based on the following factors: The factors that may impact a variation in charges include;
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Client segmentation
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Adviser discretion
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Competitive pressures
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Investment/pensions/saving size
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Schemes size
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Term/timeline of a policy or service
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Complexity of advice
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Preferential terms in the market, available to a Brokerage & client at the time
There are different types of commission models:
Single commission model:
where payment is made to the Broker shortly after the sale is completed and is based on a percentage of the premium paid/amount invested/amount borrowed.
Recurring commission model:
For Pensions, Savings & Investments recurring commission refers to further payments at intervals that are paid throughout the life span of the product & may be based on a percentage of the value of the fund or the annual premium.
For Protection products recurring commissions refers to further payments at intervals that are paid throughout the life span of the product & are based of the annual premium.
Indemnity commission
Indemnity commission is the term used to describe a commission payment made before the commission is deemed to be ‘earned’. Indemnity commission may be subject to a clawback (see below) if the consumer lapses or cancels the product before the commission is deemed to be earned.
Other forms of indemnity commission are advances of commission for future sales granted to Brokers in order to assist with set up costs or business development.
Life Assurance/Investments/Pension products
For Life Assurance products commission is divided into initial commission and Recurring Commission (related to premium)
Recurring Commission is the ongoing remuneration facilitated on a financial advice product to allow for the ongoing service, administration & review processes that are linked to financial advice for Protection, Pensions, Investments & Savings products. Recurring commission can also be described as trail or fund-based renewal commission on Pensions/Investments/Savings, or renewal commission on Protection. Where an investment fund is being built up though an insurance-based investment product or a pension product, the increments may be based on a percentage of the value of the fund or the annual premium. For a single premium/lump sum product, the increment is based on the value of the fund.
Examples of products include Life Protection, Regular Premium Life Assurance Investments, Single Premium (lump sum) Insurance-based Investments, and Single Premium Pensions.
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Clawback
Clawback is an obligation on the Broker to repay unearned commission. Commission can be paid directly after a contract is concluded but is not deemed to be ‘earned’ until after a specified period of time. If the consumer cancels or withdraws from the financial product within the specified time, the Broker must return commission to the product producer.
Fees
The firm may also be remunerated by fee by the product producer such as policy fee, admin fee, or in the case of investment firms, advisory fees. Include arrangements etc
Please Note
The enclosed commission guidance section gives indicative values across every product provider and every product advised whereby a commission or fee is received within our business. This is the maximum our Brokerage will take and is subject to change, in certain cases our Brokerage may take a different remuneration than the enclosed percentages/amounts. This will be disclosed to each client as per the Central Bank Consumer Protection Code regulations, on a client-by-client basis.
Other Fees, Administrative Costs/ Non-Monetary Benefits
The firm may also be in receipt of non-monetary benefits such as:
Attendance at product provider seminars
Assistance with Advertising/Branding
Further detail on the providers we work with, the products we sell and the maximum commissions available to us are outlined below.
Aviva Life & Pensions Ireland DAC
Term Life Protection
A Term Life Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service, and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Term Protection 150% 22% 24
Single Premium PRSA
Product Initial % Recurring %
Single Premium PRSA 4% 0.5%
Specified Illness
A Specified Illness Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service, and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Specified 150% 22% 24
Savings
The Savings contract typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘ clawback ‘ some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Savings 15% 1% 48
Pension Term
A Pension Term Assurance Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service, and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘clawback’ some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Pension Term 150% 22% 24
Personal Retirement Savings Account RP (PRSA)
A Personal Retirement Savings Account or PRSA typically provides for an Initial Commission as outlined below with certain restrictions around PRSA’s. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Regular Premium PRSA 22.5% 0.5% 48
Personal Retirement Bond (PRB)
The Pension Retirement Bond typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring %
PRB 5.25% 1%
Income Protection
An Income Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service, and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Income Protection 200% 30% 48
Investment
An Investment Product typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring %
Investments 3% 1%
Group Life Protection
Product Initial % Recurring %
Group Life 6% 6%
Group Income Protection
Product Initial % Recurring Commission %
Group IP 12.5% 12.5%
Defined Contribution Pension
A Defined Contribution Product typically provides for an Initial Commission as outlined. below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Regular Premium 20% 1% 48
Single premium 5.25% 1% –
Approved Retirement Fund (ARF) & Approved Minimum Retirement Fund (AMRF)
An ARF / AMRF Product typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring %
ARF 3% 1%
Annuity
The Annuity contract typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘clawback’ some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial %
Annuity 3%
BCP
Investment
An Investment Product typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial %
Investments 2.5%
Approved Retirement Fund (ARF) & Approved Minimum Retirement Fund (AMRF)
An ARF / AMRF Product typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial € Recurring %
ARF No 0.75%
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Broker Solutions
Investment
An Investment Product typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial %
Investments 3%
Cantor Fitzgerald Ireland Ltd
Investment
An Investment Product typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial %
Investments 3%
Conexim
Investment
An Investment Product typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Recurring Commission %
Investments 0.75%
J & E Davy
Personal Retirement Savings Account RP (PRSA)
A Personal Retirement Savings Account or PRSA typically provides for an Initial Commission as outlined below with certain restrictions around PRSA’s. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring Commission %
PRSA 0.5% 0.5%
Personal Retirement Bond (PRB)
The Pension Retirement Bond typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring Commission %
PRB 0.5% 0.5%
Investment
An Investment Product typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring Commission %
Investment 0.5% 0.5%
Approved Retirement Fund (ARF) & Approved Minimum Retirement Fund (AMRF)
An ARF / AMRF Product typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring %
ARF 0.5% 0.5%
Irish Life Assurance plc
Whole of Life Protection
The Whole of Life Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service, and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Whole of Life 100% 28% 60
Term Life Protection
A Term Life Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service, and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Term Protection 100% 28% 60
Single Premium PRSA
Product Initial % Recurring %
Single Premium PRSA 5% 0.75%
Specified Illness
A Specified Illness Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service, and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Specified 100% 28% 60
Savings
The Savings contract typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘ clawback ‘ some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Renewal Clawback Period (Months)
Savings 5.5% 0.5% 5.5% 48
Pension Term
A Pension Term Assurance Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service, and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘clawback’ some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Pension Term 100% 15% 60
Personal Retirement Savings Account RP (PRSA)
A Personal Retirement Savings Account or PRSA typically provides for an Initial Commission as outlined below with certain restrictions around PRSA’s. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Renewal Clawback Period (Months)
Regular Premium PRSA 17.5% 0.5% 5% 48
Personal Retirement Bond (PRB)
The Pension Retirement Bond typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring %
PRB 5% 0.75%
Income Protection
An Income Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service, and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Income Protection 120% 30% 60
Investment
An Investment Product typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring %
Investments 3% 0.5%
Group Life Protection
Product Initial % Recurring Commission %
Group Life 6% 6%
Group Income Protection
Product Initial % Recurring Commission %
Group IP 12.5% 12.5%
Defined Contribution Pension
A Defined Contribution Product typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Renewal Clawback Period (Months)
Regular Premium 17.5% 0.5% 5% 48
Single premium 5% 0.75%
Approved Retirement Fund (ARF) & Approved Minimum Retirement Fund (AMRF)
An ARF / AMRF Product typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring %
ARF 3% 0.75%
Annuity
The Annuity contract typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘clawback’ some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial %
Annuity 3%
NewCourt Retirement Fund Managers Ltd
Personal Retirement Savings Account RP (PRSA)
A Personal Retirement Savings Account or PRSA typically provides for an Initial Commission as outlined below with certain restrictions around PRSA’s. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Recurring %
PRSA 0.25%
Personal Retirement Bond (PRB)
The Pension Retirement Bond typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring %
PRB 1% 0.25%
PRB – 0.25%
Approved Retirement Fund (ARF) & Approved Minimum Retirement Fund (AMRF)
An ARF / AMRF Product typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring Commission %
ARF 1% 0.25%
ARF – 0.25%
New Ireland Assurance Company plc
Term Life Protection
A Term Life Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service, and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Term Protection 225% 50% 60
Single Premium PRSA
Product Initial % Recurring % Clawback Period
Single Premium PRSA 7% 0.5% 60
Specified Illness
A Specified Illness Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service, and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Specified 225% 50% 60
Savings
The Savings contract typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘ clawback ‘ some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Renewal Clawback Period (Months)
Savings 10% 0.5% 2.5% 60
Pension Term
A Pension Term Assurance Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service, and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘clawback’ some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Pension Term 225% 50% 60
Personal Retirement Savings Account RP (PRSA)
A Personal Retirement Savings Account or PRSA typically provides for an Initial Commission as outlined below with certain restrictions around PRSA’s. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Renewal Clawback Period (Months)
Regular Premium PRSA 25% 0.5% 6% 60
Personal Retirement Bond (PRB)
The Pension Retirement Bond typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
PRB 5% 1% 60
Income Protection
An Income Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service, and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Income Protection 225% 50% 60
Investment
An Investment Product typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Investments 3% 1% 36
Group Life Protection
Product Initial % Recurring % Clawback Period (Months)
Group Life 20% 20% 12
Group Income Protection
Product Initial % Recurring % Clawback Period (Months)
Group IP 20% 20% 12
Defined Contribution Pension
A Defined Contribution Product typically provides for an Initial Commission as outlined. below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Renewal Clawback Period (Months)
Regular Premium 25% 1% 8% 60
Single premium 5% 1% - 60
Approved Retirement Fund (ARF) & Approved Minimum Retirement Fund (AMRF)
An ARF / AMRF Product typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring %
ARF 3% 1%
Annuity
The Annuity contract typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘clawback’ some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial %
Annuity 3%
Royal London Insurance DAC
Whole of Life Protection
The Whole of Life Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service, and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Whole of Life 200% 36% 60
Term Life Protection
A Term Life Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service, and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Term Protection 200% 36% 60
Specified Illness
A Specified Illness Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service, and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Specified 225% 36% 60
Pension Term
A Pension Term Assurance Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service, and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘clawback’ some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Pension Term 225% 36% 60
Personal Retirement Bond (PRB)
The Pension Retirement Bond typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial %
Personal Retirement Bond 5%
Income Protection
An Income Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service, and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Income Protection 225% 60% 60
Approved Retirement Fund (ARF) & Approved Minimum Retirement Fund (AMRF)
An ARF / AMRF Product typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial %
ARF 5%
Zurich Life Assurance plc
Whole of Life Protection
The Whole of Life Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service, and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Whole of Life 90% 18% 12
Term Life Protection
A Term Life Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service, and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Term Protection 170% 12% 12
Single Premium PRSA
Product Initial % Recurring %
Single Premium PRSA 5% 0.75%
Specified Illness
A Specified Illness Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service, and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Specified 100% 12% 12
Savings
The Savings contract typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘ clawback ‘ some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Renewal Clawback Period (Months)
Savings 10% 0.5% 1% 48
Pension Term
A Pension Term Assurance Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service, and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘clawback’ some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Pension Term 100% 12% 12
Personal Retirement Savings Account RP (PRSA)
A Personal Retirement Savings Account or PRSA typically provides for an Initial Commission as outlined below with certain restrictions around PRSA’s. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Renewal Clawback Period (Months)
Regular Premium PRSA 30% 0.75% 5% 48
Personal Retirement Bond (PRB)
The Pension Retirement Bond typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring Commission %
PRB 5% 0.5%
Investment
An Investment Product typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring %
Investment 3% 0.5%
Group Life Protection
Product Initial % Recurring %
Group Life 6% 6%
Group Income Protection
Product Initial % Recurring %
Group IP 12.5% 12.5%
Defined Contribution Pension
A Defined Contribution Product typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Renewal Clawback Period (Months)
Regular Premium 20 0.5% 3% 48
Single premium 5.5 0.5% – –
Cancer Cover
A Cancer Cover Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service, and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘clawback’ some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring % Clawback Period (Months)
Cancer Cover 100% 12% 12
Approved Retirement Fund (ARF) & Approved Minimum Retirement Fund (AMRF)
An ARF / AMRF Product typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial % Recurring Commission %
ARF 3% 0.5%
Annuity
The Annuity contract typically provides for an Initial Commission as outlined below. Brokers may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘clawback’ some or all of the commission paid to the broker, depending on how long the policy was active with the provider.
Product Initial %
Annuity 3%