Protection commission payments
The commission terms that we offer varies by product, firm, commission basis and channel and are agreed on an individual basis. Our default commission model is a full earnings period (FEP) of four years.
If you're a member of a Network or service provider, speak to them in the first instance about the terms we have available to you. Alternatively, contact our Protection Agency team at: protectionagency@royallondon.com
Commission terms
As we agree commission terms on an individual basis, we don't provide specific details in our Terms of Business. However you can read about our approach to paying commission in the Commission section of our Terms of Business. We'll let you know your individual commission terms when you accept our Terms of Business and start working with us.
What happens if the plan is cancelled early?
As our protection plans are designed to cover clients over the long term, we calculate commission payments on the basis that protection plans will be on our books for a considerable number of years.
We're entitled to claw back a proportion of commission if the plan to cancelled in the early years. The majority of providers do this over the first four years, known as full earnings period (FEP). Our default commission model is a full earnings period (FEP) of four years.
For the firms on historical reduced earnings period (REP) terms, if a REP plan is cancelled in the first year, we claw back the same amount of commission that we would if the plan had been a FEP.
Clawback as a % of indemnity commission paid
