New Ireland agent fees

[seantheman]

I have a New Ireland "Evergreen" investment and my wife has a life policy with New Ireland. I got no reply when,several times i rang the agent that sold these policies.After a call to head office i was told that this agent had retired and they would get someone to ring me back.Now i recieved by mail a form to fill in to transfer the policies to another agent.My question is,do i have to transfer or can i just carry on as i am?

 

[mercman]

Off topic, much repeated, rant, deleted - Brendan

To answer your question, you are able to transfer your policies within the company FOC. To encash them completely and to move, you might be subject to a charge. PM me if you require further info.

 

[LDFerguson]

I have a New Ireland "Evergreen" investment and my wife has a life policy with New Ireland. I got no reply when,several times i rang the agent that sold these policies.After a call to head office i was told that this agent had retired and they would get someone to ring me back.Now i recieved by mail a form to fill in to transfer the policies to another agent.My question is,do i have to transfer or can i just carry on as i am?

Was the agent an employee of New Ireland or a self-employed person, e.g. a broker or agent?

You can instruct New Ireland that you'd prefer to appoint a different agent, or to have no agent. Be aware that there's no financial benefit to you in doing so in respect of the existing policies. If there's commission being paid at present out of the policies, by having no agent New Ireland will just keep that commission. You won't benefit and the terms of your policies won't change.

 

[seantheman]

Thanks Liam, that answers my question,there's no benefit to me financially but there is a benefit to the prospective agent.