How do we make money
At Lifebroker, the only amount you pay is the premium for your insurance. You don't need to pay any additional fees to us.
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. We charge your insurer 60% of your first year’s premium, and 20% for each year following. If you cancel your policy within the first two years, we need to pay the insurer back - so you can see it’s in our interests to make sure you find a product you love.
Our expert consultants also earn additional amounts on top of their salary when they arrange a policy for you over the phone. These amounts depend on a number of factors, including the number of policies they arrange, but also the quality of their customer service and their conduct. But don’t worry, all of this is also paid from the commission we receive from the insurer.
You can always find out more details about how we are paid in our Financial Services Guide, or by calling and speaking to one of our friendly consultants.