New business commission rates on two of Cirencester Friendly's income protection contracts will be increased from 1 February.
The friendly society will increase commission by 15% on Income Assured Plus and 20% on My Earnings Insurance level premium. The current rate of new business introductory commission for My Earnings Insurance contracts with annually escalating premiums remains unchanged. There will be no increase in premium rates for Income Assured Plus but level premiums payable on the My Earnings Insurance contract will rise by 6% for members that join the Society after 1 February, although pipeline business will not be immediately affected. Cirencester Friendly chief executive Paul Hudson said: "W...
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