Pensions
Commission is usually payable by insurer and must be disclosed prior to any business being transacted.
For single premium business commissions range from 1% to 5% of the premium paid.
Fund based Commission may also be payable.
For regular premium business commissions range from 5% to 30% of the premium payable.
Initial commission of 3% of premiums paid and fund based commissions may also be payable.
Protection business
Commission is payable on policies such as life policies, mortgage protection policies, income protection policies. Premium commission usually range from 90% to 130% of the first years premium.
Renewal commission of 3% is usually paid.
Claims
Charged at the rate of €100 per hour.
Consultancy
Charged at the rate of €200 per hour.
NOTES: ALL FEES AND COMMISSIONS ARE DISCLOSED AND AGREED PRIOR TO TRANSACTING ANY BUSINESS
Abingdon Insurances Ltd is regulated by the Central Bank of Ireland