Remuneration is paid to brokers for the transaction & placement of business with a Life/Insurance Company. The activities undertaken by the broker to receive this remuneration include:

Proposing the risk to the Life/Insurance Co

• Assisting the Life/Insurance Co with any information required by them in relation to the risk
• Commencing the policy & delivering all policy documents to the life/insurance Co
• Collecting the premium on behalf of the Life/Insurance Co
• Providing an annual review for consumers of their policy and financial requirements
• Ensuring all staff are qualified in accordance with legislation to advice on products & services
• Bearing all compliance & administration costs associated with transacting the business on behalf of the Life/Insurance Co
• Assimilating the costs of implementing IT & security requirements from Insurers to ensure all online products are safely transacted on the consumers’ behalf