23rd January 2013


"What's override?" you might ask. Well, traditionally the life insurance companies paid 'override' which is essentially an extra or bonus commission on top of both initial commission and renewal commission. Basically it is another fee that goes to a broker that impacts on the overall cost of your Life Insurance.

We don't take it
The easy thing to do for a new company starting up would be to take this and any fat commissions we could get, but we decided that finding an equitable balance between what we get paid and finding the best deal for you was more important. That's why we not only waive 'override' fees but also give up between 80% and 100% of the basic commissions as well.

Change is happening everywhere
The FSA  in the UK has recently clamped down on sales commissions that cause mis-selling. Saying of the 22 financial firms they reviewed that "most were bad". Now obviously that wasn't only Life Insurance policies and of course it is in the UK market, but the point is made well regarding high commissions and there ability to pollute the advice regarding financial products.

Delighted to see this change
We're delighted to see changes like this in the industry here in Ireland. The focus has changed and you guys (the customers) are more and more becoming the focus of he industry. The industry is definitely changing but it's a slow process. In the meantime if you want to see how much you could save by avoiding high commissions feel free to apply for a quote today.