TurningGreen
Registered User
- Messages
- 49
Hi
I have a critical illness policy covering my wife and I. In current climate decided to check if cheaper available so requested details of policy. The details show its a term assurance policy costing €320 pm for €255k cover and expires 2028 (started 2003). However it also showed sales remuneration of €2545 going to broker in first year and hundreds of € per year going to the broker for the remaining lifetime of the policy from the premium we pay. Is this a typical arrangement or are we been screwed. I rang the insurance company who snottily told me it is standard practice. Any advice appreciated.
I have a critical illness policy covering my wife and I. In current climate decided to check if cheaper available so requested details of policy. The details show its a term assurance policy costing €320 pm for €255k cover and expires 2028 (started 2003). However it also showed sales remuneration of €2545 going to broker in first year and hundreds of € per year going to the broker for the remaining lifetime of the policy from the premium we pay. Is this a typical arrangement or are we been screwed. I rang the insurance company who snottily told me it is standard practice. Any advice appreciated.