Cirencester Friendly has announced that new business introductory commission rates for advisers on two income protection contracts will be increased from 1st February.
The friendly society will increase commission by 15% on Income Assured Plus and 20% on My Earnings Insurance level premium.
The current rate of new business introductory commission for My Earnings Insurance contracts with annually escalating premiums remains unchanged.
There will be no increase in premium rates for Income Assured Plus but level premiums payable on the My Earnings Insurance contract will rise by 6% for new
Members that join the Society after 1 February 2016, although pipeline business will not be immediately affected.
Paul Hudson, chief executive at Cirencester Friendly said: "We rely on intermediaries to introduce new business to the Society and we want to make sure they are well rewarded for that.
"In addition to these new business commission rate changes we will continue to work on developing further opportunities for advisers to provide for the needs of their clients and be suitably rewarded for placing business with us".
Further reading
