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Royal London announces the death of commission

Royal London has announced the &#34death&#34 of commission.

The life office has announced new plans paving the way for the introduction of &#34qualitative rather than quantitative&#34 remuneration package, based upon a broader range of factors.

These will include policy lapse rates, complaint levels, productivity and professional excellence.

Royal London human resources director John Hume says the proposed changes are designed to foster a &#34culture of advice which the customer can rely upon&#34.

The move follows the voluntary suspension of its sales staff in March this year following a visit from PIA which raised several compliance and training issues.


Pegasus launches new critical illness plan

Pegasus has launched a new critical illness plan the Personal Term Plan.The new plan will offer guaranteed premiums and is one of several steps the company is taking to boost its share of the IFA critical illness market.The life office has increased the range of illnesses across its range of CI plans and has cut […]

Treasury to allow Friendly Societies to own subsidiaries

Treasury economic secretary Patricia Hewitt has announced plans to allow Friendly Societies to own subsidiaries.The Government has proposed changes to the 1992 Friendly Societies Act to put its plans into effect.Hewitt says: “Friendly Societies carry out invaluable work by encouraging saving, especially by those of modest means. The movement has asked for the restrictions to […]


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