Legal & General returns to commission on authorisation model

'We continually and actively consulted with our partners and firms'

John Brazier
clock • 1 min read

Legal & General (L&G) is reverting to the commission on authorisation model for protection policy sales, following a move to a different structure two years ago.

Taking effect as of 30 May, L&G will pay commission to intermediaries at the start date of a policy, rather than upon the successful collection of a first direct debit payment. The insurer stated that advisers will still have the option to stick with the current commission model rather than the authorisation structure. It stated that the decision has made in line with feedback from protection advisers and to "improve the cashflow positions of adviser firms in the face of difficult economic conditions over the past 18 months." L&G Retail director of intermediary Julie Godley comment...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Protection

Record protection payouts must spur advisers on

Record protection payouts must spur advisers on

These aren't products that sell themselves

Ahmed Bawa
clock 01 November 2024 • 5 min read
Could a broader advice definition boost protection's reach?

Could a broader advice definition boost protection's reach?

'No one wakes up in the morning thinking about buying life insurance'

Paul Yates
clock 22 October 2024 • 4 min read
Are we talking enough about protection and succession planning?

Are we talking enough about protection and succession planning?

Why are more IHT liabilities for gifts not being protected?

Naomi Greatorex
clock 30 September 2024 • 4 min read