Our Remuneration July 2023

We, Sandford Advisors Ltd trading as SGL Finance, act as intermediary (Broker) between you, the consumer, and the product provider with whom we place your business.

*Details on the providers we work with, the products we sell and the maximum commissions available to us can be found here

The Background

Pursuant to provision 4.58A of the Central Bank of Ireland’s September 2019 Addendum to the Consumer Protection Code, all intermediaries, must make available in their public offices, or on their website if they have one, a summary of the details of all arrangements for any fee, commission, other reward or remuneration provided to the intermediary which it has agreed with its product producers.

What is Remuneration?

Remuneration is the payment earned by the intermediary for work undertaken on behalf of both the provider and the consumer. The amount of remuneration is generally directly related to the value of the products sold.

What is Commission?

Commission is payment that may be earned by an intermediary for work undertaken for both provider and consumer.

There are different types of remuneration and different commission models:

Single commission model: where payment is made to the intermediary shortly after the sale is completed and is based on a percentage of the premium paid/amount invested/amount borrowed.

Trail/Renewal commission model: Further payments at intervals are paid throughout the life span of the product.

Indemnity Commission

Indemnity commission is the term used to describe a commission payment made before the commission is deemed to be ‘earned’. Indemnity commission may be subject to a clawback (see below) if the consumer lapses or cancels the product before the commission is deemed to be earned.

Other forms of indemnity commission are advances of commission for future sales granted to intermediaries in order to assist with set up costs or business development.

If firm considers sustainability factors in respect of Investment/IBIPs/Pension Advice include

Sustainability Factors- Investments/IBIPs/Pension Advice

We take due care so that our internal remuneration policy with respect to investment or insurance advice on insurance-based investment products (‘IBIPs’) promotes sound and effective risk management in relation to sustainability risks and does not encourage excessive risk‐taking with respect to sustainability risks.

When assessing products, we will consider the different approach taken by product providers in terms of them integrating sustainability risks into their product offering. This will form part of our analysis for choosing a product provider.

Profit Share Arrangements

In some cases, the intermediary may be a party to a profit-share arrangement with a product provider
and will earn additional commission. Any business arranged with these product providers on a client’s
behalf will be placed with the product provider because that product provider is at the time of
placement, the most suitable to meet the client’s requirements, taking all the client’s relevant
information, demands and needs into account.

Life Assurance/Investments/Pension Products

For Life Assurance products commission is divided into initial commission and renewal commission (related to premium), fund based or trail (relating to accumulated fund).

Trail commission, bullet commission, fund based, flat commission or renewal commission are all terms used for ongoing payments. Where an investment fund is being built up though an insurance-based investment product or a pension product, the increments may be based on a percentage of the value of the fund or the annual premium. For a single premium/lump sum product, the increment is generally based on the value of the fund.

Life Assurance products fall into either individual or group protection policies and Investment/Pension products would be either single or regular contribution policies. Examples of products include Life Protection, Regular Premium Life Assurance Investments, Single Premium (lump sum) Insurance- based Investments, and Single Premium Pensions.

Investments

Investment firms, which fall within the scope of the European Communities (Markets in Financial Instruments) Regulations 2007 (the MiFID Regulations), offer both standard commission and commission models involving initial and trail commission. Increments may be based on a percentage of the investment management fees, or on the value of the fund.

Credit Products/Mortgages

Commission may be earned by intermediaries for arranging credit for consumers, such as mortgages. The single, or standard, commission model is the most common commission model applied to the sale of mortgage products by mortgage credit intermediaries (Mortgage Broker).

Clawback

Clawback is an obligation on the intermediary to repay unearned commission. Commission can be paid directly after a contract is concluded but is not deemed to be ‘earned’ until after a specified period of time. If the consumer cancels or withdraws from the financial product within the specified time, the intermediary must return commission to the product producer.

Fees

The firm may also be remunerated by fee by the product producer such as policy fee, admin fee, or in the case of investment firms, advisory fees. None are in place at this time.

Other Fees, Administrative Costs/ Non-Monetary Benefits

The firm may also be in receipt of other fees, administrative costs, or non-monetary benefits such as:

  • Attendance at product provider seminars
  • Assistance with Advertising/Branding

We also reserve the right to charge a fee for work we may undertake for a client where no product may be required. This work is charged out on a fee basis, details of which are detailed in our Terms Of Business and may be quoted on a case by case basis

Sandford Advisors Limited trading as SGL Finance commission options are displayed as a range, showing the maximum amount which can be received. The level of commission depends on individual circumstances, based on the following factors:

➢ Intermediary discretion
➢ Whether the level of commission is negotiable ➢ Client relationship
➢ Length of time of the policy
➢ Amount of investment
➢ Length of investment
➢ Commercial decision
➢ Complexity of the case
➢ Product constraints by the product provider

 

Commissions & Fees

We strive for accuracy in our fee disclosures, but errors and omissions may occasionally occur. We reserve the right to correct any such inaccuracies and appreciate your understanding.

Aviva Life & Pensions Ireland DAC

A Term Life Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Term protection 

  • Initial 150% 
  • Recurring Commission 22% 
  • Clawback Period (Months) 24

A Personal Retirement Savings Account or PRSA typically provides for an Initial Commission as outlined below with certain restrictions around PRSA’s. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

 

Regular Premium PRSA 

  • Initial 20%
  • Recurring Commission 0.5%
  • Clawback Period (Months)  48 

Single Premium PRSA

  • Initial 5%
  • Recurring Commission 0.5%
  • Clawback Period (Months)  60

The Pension Retirement Bond typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

PRB

  • Initial 5%
  • Recurring Commission 1% 

A Specified Illness Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Specified Illness

  • Initial 150%
  • Recurring Commission 22%
  • Clawback Period (Months)  24 

The Savings contract typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘ clawback ‘ some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Specified Illness

  • Initial 15%
  • Recurring Commission 22%
  • Clawback Period (Months)  24 

A Pension Term Assurance Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘clawback’ some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Pension Term

  • Initial 100%
  • Recurring Commission 15%
  • Clawback Period (Months) 60 

A Personal Retirement Savings Account or PRSA typically provides for an Initial Commission as outlined below with certain restrictions around PRSA’s. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

RP PRSA

  • Initial 17.5%
  • Recurring Commission 0.5%
  • Renewal 5%
  • Clawback (Months) 48

A Mortgage Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Mortgage Protection

  • Initial 100%
  • Recurring Commission 28%
  • Clawback (Months) 60

An Income Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Income Protection

  • Initial 120%
  • Recurring Commission 30%
  • Clawback (Months) 60

An Investment Product typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Investment

  • Initial 5%
  • Recurring Commission 0.5%
  • Initial 6%
  • Recurring Commission 6%
  • Initial 12.5%
  • Recurring Commission 12.5%

A Defined Contribution Product typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Regular Premium

  • Initial 17.5%
  • Recurring Commission 0.5%/5%
  • Clawback 48 Months 

Single Premium 5%

  • Initial 0.75%
  • Recurring Commission .05%/-

An ARF / AMRF Product typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Approved Retirement Fund (ARF) & Approved Minimum Retirement Fund (AMRF) 

  • Initial 5%
  • Recurring Commission 0.75%

The Annuity contract typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘clawback’ some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Annuity 

  • Initial 3%

BROKER IRELAND NETWORK SERVICES

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes. 

Mortgage

  • Clawback 1%
  • Period (Months) 36

ICS/DILOSK

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes. 

Mortgage

  • Initial 1%
  • Period (Months) 36
  •  

Irish Life Assurance PLC

The Whole of Life Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Whole of Life

  • Initial 100%
  • Recurring Commission 28%
  • Clawback Period (Months) 60 

A Term Life Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Term Life Protection

  • Initial 100%
  • Recurring Commission 28% 
  • Clawback Period (Months) 60
  • Initial 5%
  • Recurring Commission 0.75% 

A Specified Illness Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Specified 

  • Initial 100%
  • Recurring Commission 28% 
  • Clawback Period (Months) 60 

The Savings contract typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘ clawback ‘ some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Savings

  • Initial 5%
  • Recurring Commission 0.5% 
  • Renewal 5%
  • Clawback Period (Months) 48

A Pension Term Assurance Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘clawback’ some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Pension Term

  • Initial 100%
  • Recurring Commission 15% 
  • Renewal 5%
  • Clawback Period (Months) 60 

A Personal Retirement Savings Account or PRSA typically provides for an Initial Commission as outlined below with certain restrictions around PRSA’s. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Personal Retirement Savings Account RP (PRSA)

  • Initial 17.5%
  • Recurring Commission 0.5% 
  • Renewal 5%
  • Clawback Period (Months) 48 

The Pension Retirement Bond typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Personal Retirement Bond (PRB) 

  • Initial 5%
  • Recurring Commission 0.75% 

A Mortgage Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Mortgage Protection

  • Initial 100%
  • Recurring Commission 28% 
  • Clawback Period (Months) 60

An Income Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Income Protection

  • Initial 120%
  • Recurring Commission 30% 
  • Clawback Period (Months) 60

An Investment Product typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Investments 

  • Initial 5%
  • Recurring Commission 0.5% 

Group Life Protection 

  • Initial 6%
  • Recurring Commission 6% 

Group Income Protection 

  • Initial 12.5%
  • Recurring Commission 12.5% 

A Defined Contribution Product typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Regular Premium 

  • Initial 17.5%
  • Recurring Commission 0.5%/5% 
  • Clawback (Months) 48 

Single Premium 5%

  • Initial 0.75%
  • Recurring Commission 0.5%/-

An ARF / AMRF Product typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Regular Premium 

  • Initial 5%
  • Recurring Commission 0.75% 

The Annuity contract typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘clawback’ some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Annuity 

  • Initial 3%

INDEPENDENT TRUSTEE COMPANY LIMITED

A Personal Retirement Savings Account or PRSA typically provides for an Initial Commission as outlined below with certain restrictions around PRSA’s. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

PRSA

  • Initial 2%

The Pension Retirement Bond typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

PRB 

  • Initial 2%

An ARF / AMRF Product typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Approved Retirement Fund (ARF) & Approved Minimum Retirement Fund (AMRF) 

  • Initial 2%

NEW IRELAND ASSURANCE COMPANY PLC

A Personal Retirement Savings Account or PRSA typically provides for an Initial Commission as outlined below with certain restrictions around PRSA’s. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Term Protection

  • Initial 225%
  • Recurring Commission 50%
  • Clawback Period (Months) 60

Single Premium PRSA 

  • Initial 7%
  • Recurring Commission 0.5%
  • Clawback Period (Months) 60

A Specified Illness Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Specified Illness 

  • Initial 225%
  • Recurring Commission 50%
  • Clawback Period (Months) 60

The Savings contract typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘ clawback ‘ some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Savings

  • Initial 10%
  • Recurring Commission 0.5%
  • Renewal 2.5%
  • Clawback Period (Months) 60

A Pension Term Assurance Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘clawback’ some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Pension Term 

  • Initial 225%
  • Recurring Commission 0.5%
  • Renewal 6%
  • Clawback Period (Months) 60

A Personal Retirement Savings Account or PRSA typically provides for an Initial Commission as outlined below with certain restrictions around PRSA’s. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Personal Retirement Savings Account RP (PRSA)

  • Initial 25%
  • Recurring Commission 0.5%
  • Renewal 6%
  • Clawback Period (Months) 60

The Pension Retirement Bond typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

PRB

  • Initial 5%
  • Recurring Commission 1%
  • Clawback Period (Months) 60

A Mortgage Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Mortgage Protection

  • Initial 225%
  • Recurring Commission 50%
  • Clawback Period (Months) 60

An Income Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Income Protection

  • Initial 225%
  • Recurring Commission 50%
  • Clawback Period (Months) 60

An Investment Product typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Investment

  • Initial 4%
  • Recurring Commission 1%
  • Clawback Period (Months) 36

Group Life Protection 

  • Initial 20%
  • Recurring Commission 20%
  • Clawback Period (Months) 12

Group Income Protection 

  • Initial 20%
  • Recurring Commission 20%
  • Clawback Period (Months) 12

A Defined Contribution Product typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Regular Premium 

  • Initial 25%
  • Recurring Commission 1%
  • Renewal 8%
  • Clawback Period (Months) 60

Single Premium 

  • Initial 5%
  • Recurring Commission 1%

An ARF / AMRF Product typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

  • Initial 5%
  • Recurring Commission 1%
  • Recurring Commission 1%

The Annuity contract typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘clawback’ some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

  • Initial 3%

PERMANENT TSB

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes. 

Mortgage

  • Clawback 1%
  • Period (Months) 36

ROYAL LONDON INSURANCE DAC

The Whole of Life Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider 

Whole of Life Protection

  • Initial 200%
  • Recurring Commission 36%
  • Clawback Period (Months) 60

A Term Life Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Term Life Protection 

  • Initial 200%
  • Recurring Commission 36%
  • Clawback Period (Months) 60

A Specified Illness Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Specified Illness

  • Initial 225%
  • Recurring Commission 36%
  • Clawback Period (Months) 60

A Pension Term Assurance Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘clawback’ some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Pension Term 

  • Initial 225%
  • Recurring Commission 36%
  • Clawback Period (Months) 60

A Mortgage Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Mortgage Protection 

  • Initial 200%
  • Recurring Commission 36%
  • Clawback Period (Months) 60

An Income Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Income Protection

  • Initial 225%
  • Recurring Commission 60%
  • Clawback Period (Months) 60

The Pension Retirement Bond typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Personal Retirement Bond (PRB)

  • Initial 5%
  • Recurring Commission 1%

An ARF / AMRF Product typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a 

particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Approved Retirement Fund (ARF) & Approved Minimum Retirement Fund (AMRF) 

  • Initial 5%
  • Recurring Commission 1%

STANDARD LIFE INTERNATIONAL DAC

Single Premium PRSA 

  • Clawback 5%
  • Recurring 0.5%

Savings 

  • Clawback 15%
  • Recurring 1%
  • Clawback Period (Months) 60

A Personal Retirement Savings Account or PRSA typically provides for an Initial Commission as outlined below with certain restrictions around PRSA’s. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Personal Retirement Savings Account RP (PRSA) 

  • Clawback 5%
  • Recurring 0.5%
  • Renewal 5%

The Pension Retirement Bond typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Personal Retirement Bond (PRB) 

  • Clawback 5%
  • Recurring 1%

An Investment Product typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Investment 

  • Initial 4%
  • Recurring 1%

A Defined Contribution Product typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Regular Premium 

  • Initial 25%
  • Recurring 1%
  • Renewal 8%
  • Clawback 60 Months 

Single Premium 

  • Initial 5%
  • Recurring 1%
  • Renewal –
  • Clawback 48 Months 

An ARF / AMRF Product typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a 

particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Approved Retirement Fund (ARF) & Approved Minimum Retirement Fund (AMRF) 

  • Initial 4%
  • Recurring 1%

The Annuity contract typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘clawback’ some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Annuity 

  • Initial 3%

ZURICH LIFE ASSURANCE PLC

The Whole of Life Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Whole of Life Protection 

  • Initial 90%
  • Clawback 18%
  • Recurring 12%

A Term Life Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Term Life Protection 

  • Initial 170%
  • Recurring Commission 122%
  • Clawback Period (Months) 12

Single Premium PRSA 

  • Initial 5%
  • Recurring 0.75%
  • Clawback Period (Months) 12

A Specified Illness Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Specified Illness 

  • Initial 100%
  • Recurring 12%
  • Clawback Period (Months) 12

The Savings contract typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘ clawback ‘ some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Specified Illness 

  • Initial 10%
  • Recurring 0.5%
  • Renewal 1%
  • Clawback Period (Months) 48

A Pension Term Assurance Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘clawback’ some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Pension Term 

  • Initial 100%
  • Recurring 12%
  • Clawback Period (Months) 12

A Personal Retirement Savings Account or PRSA typically provides for an Initial Commission as outlined below with certain restrictions around PRSA’s. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Regular Premium PRSA 

  • Initial 30%
  • Recurring 0.75%
  • Renewal 5%
  • Clawback Period (Months) 48

Single Premium PRSA 

  • Initial 5%
  • Recurring 0.65%
  • Renewal –
  • Clawback Period (Months) 48

The Pension Retirement Bond typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Personal Retirement Bond (PRB) 

  • Initial 5%
  • Recurring 0.5%

A Mortgage Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Mortgage Protection

  • Initial 170%
  • Recurring Commission 40%
  • Clawback Period (Months) 12 

An Investment Product typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Investment

  • Initial 5%
  • Recurring Commission 0.5%

Group Life Protection 

  • Initial 6%
  • Recurring Commission 6%

Group Life Protection 

  • Initial 12.5%
  • Recurring Commission 12.5%

A Defined Contribution Product typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Regular Premium

  • Initial 20%
  • Recurring Commission 0.5%
  • Renewal 3%
  • Clawback 48 Months

Single Premium

  • Initial 5%
  • Recurring Commission 0.5%
  • Renewal –
  • Clawback –

A Cancer Cover Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘clawback’ some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Cancer Cover 

  • Initial 100%
  • Recurring Commission 12%
  • Clawback (Months) 12

An ARF / AMRF Product typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to “clawback” some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

ARF

  • Initial 5%
  • Recurring Commission 0.5%

 

The Annuity contract typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to ‘clawback’ some or all of the commission paid to the broker, depending on how long the policy was active with the provider. 

Annuity

  • Initial 3%