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Sesame&#39s protection proposition will give best rates for narrowest choice

The narrowest of Sesame&#39s multi-tied protection offerings will offer Lautro commission rates of up to 37 per cent more than its whole-of-market option.

Sesame&#39s protection multi-tie proposition has three tiers ranging from its Select Plus panel with six providers to its bigger Select panel as well as a whole-of-market offering. Opting for a wider market spread will bring lower rates for advisers.

The Select Plus panel consists of products from Abbey/Scottish Provident, Norwich Union, Friends Provident, Legal & General, Standard Life Healthcare and Axa PPP and offers the top commission rates to Sesame members.

Providers on the bigger Select panel, where commission rates are lower, are NU, Scottish Widows, Abbey/Scottish Provident, Scottish Equitable, Bright Grey, Friends Provident, Axa PPP, L&G, Liverpool Victoria, Bupa, Standard Life and Zurich.

Sesame is also offering a whole-of-market proposition where rates are lower still.

The highest commission rates available are from Friends Provident, which will pay 195 per cent of Lautro rates on term insurance through Select Plus compared with 162 per cent for online term insurance through Select and 158 per cent through the whole-of-market option.

Sesame was criticised for a adopting similar approach to the mortgage market, with rivals asking how it benefited the consumer, who would either end up with a deal which was best for the broker, with higher procuration fees, or one that was best for the consumer with more deals.

Sesame commercial director Martin Davis says: “This shows that providers are prepared to pay more for volume.”

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