Regulatory Commission Changes

Please take note of the new maximum commission sliding scale in terms of amendments to the Long-term Insurance Act Regulations with effect from 1 January 2018.

The amended maximum commission scale will be implemented on 8 February 2018 on all new quotes, amendment quotes and annual reviews of existing business processed after this date. If you require the commission payable on existing business to be increased to the amended maximum commission scale before the next annual review, then an amendment quote must be requested, as this could have an effect on the rates.

You’ll find all back issues of TSA Connect by visiting our blog.

All information provided is intended to inform and explain, but please remember to always check the current terms on policies when considering options and advising clients.

(Vol 7. Issue 2)

 

Social Media Company Social Media Consultant