Consumers ‘in dark’ on commission

Consumers are being charged well over their first year premium in commission on their life assurance policies, according to an Amarach Research survey.

The survey of 1,000 people found that consumers are oblivious to the fact that they are paying an average of 118% of their first year’s insurance premium in commission.

The survey found that four out of five people believe that they are only charged up to 40% of their first year’s premium in commission, nearly a third of the actual figure.