For policies sold before 16th December 2018.
When & How is Commission paid?
Commission is paid on the 21st of each month via BACS to each Network or Agency and is paid a month in arrears e.g. if a policy is in force in January, commission will be paid in February. If you're on a monthly Free Start Drip, commission is paid monthly throughout the term of the policy. The amount received is dependent on the premium collected in the month.
For Mortgage Protection, Income Protection and Classic Products: If the policy is in force in the last 8 days of the month, commission is then paid two months in arrears.
When & How is Commission paid?
Commission is paid on the 21st of each month via BACS to each Network or Agency and is paid a month in arrears e.g. if a policy is in force in January, commission will be paid in February. If you're on a monthly Free Start Drip, commission is paid monthly throughout the term of the policy. The amount received is dependent on the premium collected in the month.
For Mortgage Protection, Income Protection and Classic Products: If the policy is in force in the last 8 days of the month, commission is then paid two months in arrears.
Commission Statements:
Commission statements will be emailed to you (your agency). Please note that you cannot view your commissions statements or payments in Adviser Hub.
We no longer post commission statements.
Emailed Statements also go out on a monthly basis, approximately on the 18th.
Discussing Commissions:
We're only able to discuss commissions with those who are authorised. If you'd like to discuss commission amounts and rates, please follow the steps below:
DA:
If you're directly authorised (DA) with the FCA and have a directly authorised agency with us, we can discuss commission rates and amounts, but only with authorised personnel.
AR:
If we pay commissions directly to you, you must be able to confirm the sort code and account number of the bank account that commission is being paid into.
Network:
If we pay commission directly to your Network, we're unfortunately unable to discuss commissions with anyone else other than the Network.
Remember: You can also use the Commission Calculator located at the bottom of the Home dashboard within Adviser Hub to calculate commission rates and amounts.