Commission Rebates
Most Financial Advisers or IFA’s retain all (100%) of the commission as their fee. Lifebroker is different, we rebate commission to you as standard practice. We can rebate as much as 80% of the commission, keeping just 20%.
Lifebroker is a specialist life insurance broker - dedicated to your life insurance and income protection needs.
When you get a life insurance quote or income protection quote from Lifebroker you will notice that there are always two price columns:
- The first column 'Lifebroker Premium' is the price you pay if you become a client with Lifebroker
- The second column 'Standard Premium' is the price you will pay if you go direct to the insurer. The price via Lifebroker is guaranteed to be better value than the direct route.
- We also show you the saving that you make from becoming a Lifebroker client in the 'Total Savings' column over the term of the insurance policy. Please click here to find out more about the Lifebroker Guarantee.
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How does Lifebroker’s unique rebate work?
David Simpson (51) & Clare Simpson (53) Selected a joint level term insurance plan over 20 years. They wanted guaranteed premiums (so that the premiums remained the same for the 20 years term) and the best product for them was with Legal and General.
If they went directly to Legal & General or to a full commission Financial Adviser the policy would cost them £207.97 per month Luckily they spent some time on the Lifebroker site and managed to buy the same product for £169.58 per month. That is a monthly saving of £38.39 per month Lifebroker sacrificed 80% (£3,908.62) of the commission they would have been paid for setting up this policy and instead chose to just get 20% (£637.42).
In summary your monthly premium choice is:
- Direct with Legal & General £207.97
- Lifebroker £169.58
Lifebroker saved Mr and Mrs Simpson £3,271.20
John Smith (46 years of age) takes out a Level Term Life Insurance Policy for £200,000 over 20 years with Aviva via his Financial Adviser. The guaranteed premiums for this cover are £35.40 per month. His Adviser receives £665.31 If John Smith had visited the Lifebroker website and applied for the same policy with Aviva the guaranteed premiums would have been £28.87 per month for 20 years. Lifebroker would receive £108.52 in commission. The Commission that Lifebroker does not receive is rebated in the form of reducing your premiums.
In summary your monthly premium choice is:
- Financial Adviser £35.40
- Lifebroker £28.87
Lifebroker saved Mr Smith £1,466.40 over the term of the policy
Lifebroker guarantees to:
1. offer better value than going direct to the insurance company
2. save you time, money and the hassle of shopping around
3. rebate commission
4. store your personal information securely
5. not pass on or sell your personal information
Lifebroker UK is authorised and regulated by the Financial Services Authority No. 479431