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Act fast or lose commission, ClearView urges advisers

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ClearView has warned advisers waiting on policy applications to contact it and finalise matters before December 31 to receive the maximum 88% commission.

In the second year of the Life Insurance Framework (LIF), from January 1, the maximum commission for first-year new business will fall to 77%.

There are no transition arrangements for the second year.

Upfront commissions will drop to a maximum of 66% of premium in January 2020.

LIF commission payments will be based on the date the policy is issued, not ClearView’s scheduled commission run. The last commission run for this year is December 18.