Pure Protection Products. 13.2 If you buy a protection product you may elect that we are remunerated by commission. The commission is paid directly by the provider. Although you pay nothing up front that does not mean our service is free. The commission paid to us forms part of a ‘product charge’ which you pay when you purchase the product. Product charges pay for the product provider’s own costs and any commission payable to third parties. You may elect that we arrange for the protection premium to be discounted by the commission that otherwise might have been payable under the policy recommended. In this instance you will need to pay a fee appropriate to cover our advice and work, in accordance with paragraph 13.1 above. The amount of commission we receive will vary depending on the type of policy and (sometimes) the term of the policy or your age, as in the following example: If you were to pay £20 per month towards a £25,000 Critical Illness policy we would receive commission of 3% of the sum assured (£750) and 0.5% of the sum assured (roughly £125 every year).
Pure Protection Products. If you buy a protection product you may elect that we are remunerated by commission. The commission is paid directly by the provider. Although you pay nothing up front that does not mean our service is free. The commission paid to us forms part of a ‘product charge’ which you pay when you purchase the product. Product charges pay for the product provider’s own costs and any commission payable to third parties. You may elect that we arrange for the protection premium to be discounted by the commission that otherwise might have been payable under the policy recommended. In this instance you will need to pay a fee appropriate to cover our advice and work, in accordance with the investment advice paragraph above. The amount of commission we receive will vary depending on the type of policy and (sometimes) the term of the policy or your age, as in the following example: A decreasing term policy for £300,000 sum assured critical illness provided by Scottish Provident for a 37 year old employed non-smoker may cost a premium of £105.68 and may generate a commission of £2,700 in year one for Xxxxxxxxx Wealth Management Ltd. General Insurance We may also receive commission or other form of benefit from working with the issuer of a security, a product provider or from another intermediary. We will inform you before the transaction if we are likely to receive such commission or form of benefit from recommending any product to you. In respect of any regular premium policy which we may recommend, should you subsequently cease to pay premiums on the policy and as a result of your cancellation we are obliged to refund product charges or other commission that has been paid to us we reserve the right to charge you a fee representing the amount we have to repay, for a period of up to four years after commencement of the policy. We will not charge such fee if you exercise your right to cancel in accordance with the cancellation notice sent to you by the product provider. For insurance products, your insurance policy may lapse if you do not keep up to date with regular premium payments and you may not be covered if a claim is made. Your ongoing service and ongoing charges We like to work with clients on a long term basis. Following the completion of our initial advice, we will provide you with a level of ongoing service which will depend on the funds invested. Service category ongoing charges: • Transactional £0 to £50,000 – 1.00% per annum • Foundation £50,001 to £100,000 - 1...
Pure Protection Products. 15. If you take out a protection product (any product which insures you against a specified health risk) the commission is paid directly by the provider. Although you pay nothing up front that does not mean our service is free. The commission paid to us forms part of a ‘product charge’ which you pay when you purchase the product. Product charges pay for the product provider’s own costs and any commission payable to third parties. Any protection product you choose to take out will be arranged by Lumin Wealth Limited which is part of the Lumin VZ Group. Client Money
Pure Protection Products. If you buy a protection product our remuneration is by commission. The provider pays us commission directly. Although you might pay us nothing up front that does not mean our service is free. The commission paid to us forms part of a ‘product charge’ that you pay when you purchase the product. Product charges pay for the product provider’s own costs and any commission payable to third parties. You may elect that we arrange for the protection premium to be discounted by the commission that otherwise might have been payable under the policy recommended. In this instance, you will need to pay a fee appropriate to cover our advice and work, in accordance with paragraph 13.1 above. The amount of commission we receive will vary depending on the type or term of policy and your health and age, as in the following example: If you were to pay £20 per month towards a Critical Illness policy we would receive commission of 20 times the monthly premium (£400) and 2.5% of the monthly premium after 4 years (roughly £10 every year).
Pure Protection Products. 21. If you buy a protection product you may elect that we are remunerated by commission. The commission is paid directly by the provider. Although you pay nothing up front that does not mean our service is free. The commission paid to us forms part of a ‘product charge’ which you pay when you purchase the product. Product charges pay for the product provider’s own costs and any commission payable to third parties. If you opt to pay us in this way, you need to be aware that these charges reduce the amount left for your investment
Pure Protection Products. 12 If you buy a protection product you may elect that we are remunerated by commission. The commission is paid directly by the provider. Although you pay nothing up front that does not mean our service is free. The commission paid to us forms part of a ‘product charge’ which you pay when you purchase the product. Product charges pay for the product provider’s own costs and any commission payable to third parties. You may elect that we arrange for the protection premium to be discounted by the commission that otherwise might have been payable under the policy recommended. In this instance you will need to pay a fee appropriate to cover our advice and work. The amount of commission we receive will vary depending on the type of policy and (sometimes) the term of the policy or your age, as in the following example:
Pure Protection Products. 13.3 If you buy a protection product you may elect that we are remunerated by commission. The commission is paid directly by the provider. Although you pay nothing up front that does not mean our service is free. The commission paid to us forms part of a ‘product charge’ which you pay when you purchase the product. Product charges pay for the product provider’s own costs and any commission payable to third parties. You may elect that we arrange for the protection premium to be discounted by the commission that otherwise might have been payable under the policy recommended. In this instance you will need to pay a fee appropriate to cover our advice and work, in accordance with paragraph 13.1 above. The amount of commission we receive will vary depending on the type of policy and (sometimes) the term of the policy or your age, as in the following example: Product Type Typical Commission Based on Payment by you of £50 per month Our minimum Non-Investment Insurance 170% of annual premium £1,020 150% of annual premium Whole of Life 170% of annual premium £1,020 150% of annual premium It is important to note that with the commission option we will offset the commissions received against the fixed fees exactly the same as offsetting percentage fees. An example of how this works has been shown in section 13. Payment for Ongoing Services
Pure Protection Products. If you buy a protection product you may elect that we are remunerated by commission. The commission is paid directly by the provider. Although you pay nothing upfront that does not mean our service is free. The commission paid to us forms part of a ‘product charge’ which you pay when you purchase the product. Product charges pay for the product provider’s own costs and any commission payable to third parties. You may elect that we arrange for the protection premium to be discounted by the commission that otherwise might have been payable under the policy recommended. In this instance, you will need to pay a fee appropriate to cover our advice and work. The amount of commission we receive will vary depending on the type of policy and (sometimes) the term of the policy or your age. For example, a Life Assurance policy with a regular premium of £25.00 per month could pay Giliker Xxxxx Independent Wealth Ltd a commission amount of £531.38. This can vary dependent on the type of cover and provider recommended.
Pure Protection Products. 14. If you buy a protection product you may elect that we are remunerated by commission. The commission is paid directly by the provider. Although you pay nothing up front that does not mean our service is free. The commission paid to us forms part of a ‘product charge’ which you pay when you purchase the product. Product charges pay for the product provider’s own costs and any commission payable to third parties. You may elect that we arrange for the protection premium to be discounted by the commission that otherwise might have been payable under the policy recommended. In this instance you will need to pay a fee appropriate to cover our advice and work, in accordance with paragraph 14 above. The amount of commission we receive will vary depending on the type of policy and (sometimes) the term of the policy or your age, as in the following example: If you were to pay £22.56 per month towards a Critical Illness policy we may receive commission of £417.92 and after 24 months thereafter for the duration of the plan a monthly renewal commission of £0.57. Where we take over the agency of any existing policies we will receive existing on-going commission Payment for Ongoing Services
Pure Protection Products. 3.5 If you buy a protection product you may elect that we are remunerated by commission. The commission is paid directly by the provider. Although you pay nothing up front that does not mean our service is free. You may elect that we arrange for the protection premium to be discounted by the commission that otherwise might have been payable under the policy recommended. In this instance you will need to pay a fee appropriate to cover our advice and work, in accordance with paragraph 3.1 above. The amount of commission we receive will vary depending on the type of policy and (sometimes) the term of the policy or your age, as in the following example: If you were to pay £20 per month towards a Critical Illness pol- icy we would receive commission of 3% of the sum assured (£3000) and 0.5% of the sum assured (roughly £50 every year).
