We have summarised the details of the commission discounts for nil commission. The actual discount realised by the client on nil commission cases is reduced for typical premiums by the presence of the non-commissionable policy fee. Hence a 20% discount for nil commission is only 16% for the average premium and can be less for smaller premiums. Those details are available to subscribers to our commission comparison service.
This table is a summary for the main life product – details can vary between products.
We keep our commission comparison up to date by undertaking periodic commission audits for advisers. You get a third-party checking a sample of cases to make sure you were paid correctly, and we get to double check how the details in the agency agreements we hold actually work out in the commission payments you receive. Advisers who would like us to do a commission audit for them are welcome to contact Chatswood Consulting at the office on to discuss the details.
