Commissions, Conflicts of Interest and Incentives
A full schedule of all providers and their commission rates is available on request.
From time to time, product providers may also reward us for the overall business we provide to them. They may give us tickets to sports events, hampers, or other incentives.
However, we prioritise our client’s interests above our own. We don’t have any quota system with any insurer or bank/lender and follow procedures that is solely based on what is in the best interest of our clients. We also keep a register monitoring these gifts and incentives.
Premium Finance may charge a fee for the financial advice provided to a client where a client cancels, lapses or reduces a life or health insurance policy within 24 months of inception and for a mortgage/home loan within 27 months of inception. This fee will be discretionary and will not be charged if the client cancels or reduces a life or health policy due to financial hardship. This fee will be $3,000 per policy or home loan. However, if it takes us more than 10 hours to perform the service, the fee will be calculated on the following basis: $3,000 + $180 per hour above 10 hours. This fee will be payable by the client by the 20th of the month after the policy is cancelled.