How do we make money?
It’s important to us that you get the best deal possible on your insurance. That’s why at Lifebroker, we compare and provide policies for you that are priced at exactly the same cost as going direct.
So how do we make money? When you purchase insurance you pay a premium to your insurance company. We make our money by charging your insurance company a percentage of this premium. It’s still the same premium you would be paying anyway, but with the added benefit of going through our consultants. So when you purchase insurance through Lifebroker, you’re actually getting more value for the same amount of money.
We charge your insurer between 25% and 124% of your
first year’s premium, and between 5% and 33% for each year following. So you
can see it’s in our best interest to make sure you find a product you love. Our
expert consultants may also earn bonuses when they arrange a policy for you
over the phone. These bonuses depend on a number of factors, including the
number of products issued. But don’t worry, any incentives our representatives
receive are never passed onto you in the form of added fees – there are no
nasty surprises.
How do we choose companies to compare?
We work with 8 of
Australia’s leading insurance companies. We’re proud to have them as partners
because they are some of the country’s largest insurers many of whom have been
around for decades.
Our partnership with each company is a commercial relationship. We receive remuneration in the form of upfront and on-going commissions, as well as a one-off yearly payment by each insurer.