Protection commission payments

The commission terms that Royal London offer vary by product, firm, commission basis and channel and are agreed on an individual basis. Royal London’s default commission model is a Full Earnings Period (FEP) of 4 years.

If you're a member of a Network or Service Provider then speak to them in the first instance about the terms available to you from Royal London. Alternatively contact our Protection Agency team at:

Our Terms of Business in relation to commission

Please refer to the commission section within our Terms of Business for more information on our approach to commission payment.

Please note that our Terms of Business do not provide specific details on the commission terms you will receive as these are agreed on an individual basis and are dependent on a number of factors. Individual commission terms will be communicated when you accept our Terms of Business and start your relationship with Royal London.

What happens if the plan is cancelled early?

Advisers and providers want business to stay on the books for as long as possible and we calculate payment of commission on the basis that a plan will be on our books for a considerable number of years.

We're entitled to claw back a proportion of commission if the plan is cancelled in the early years. The majority of providers do this over the first 4 years, known as full earnings period (FEP). Royal London's default commission model is a Full Earnings Period (FEP) of 4 years. 

For 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.

Graph of clawback as a % of indemnity commission paid