Legal & General is to stop paying trail commission on single premium bonds to intermediaries. Th...
Legal & General is to stop paying trail commission on single premium bonds to intermediaries. The company claims that weak equity markets and lower solvency mean it will have to stop paying renewal in order to be fair to consumers. The company will stop paying commission on 2 November and claims that the cost of paying trail has risen. John Morgan, head of public relations at L&G, said: 'The fall in equity markets have changed the dynamics of the products and commission terms so that we can be fair to customers. The cost to policy holders of commission options which include trail...
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