Commission — Medical Schemes
The medical scheme pays me 3% of the monthly contribution, up to a maximum of R80,00 per month, plus VAT. The scheme pays it; not you.
Thus, you neither pay more if you use a broker, nor less if you don’t.
Commission — Supplementary Cover
Short-term assurers pay me 20% of the monthly premium, plus Vat. Again the premium stays unchanged, whether you make use of a broker or not. Where long-term insurers are involved, the commission works on basically the same principles as in the case of PPS.
Commission — PPS
PPS pays me a commission where I, as your financial adviser, introduce your business to PPS and they approve the business. Commission paid is regulated by the Long Term Insurance Act, 52 of 1998.
PPS does not charge a direct fee to you, the policyholder, in order to recover the commission, nor recoups this from you. Commission payable has been priced into the policy premiums. No additional commission is paid on the declared annual increases each year.
Commission payable is totally transparent and will be set out in full in the quotation that I will provide you with.
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053 531 0003 Office
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On the banks of the Vaal River, 35 km from Kimberley
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Language Editor Dr. Lariza Hoffman
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