Commission Terms
Important Information
This page explains how Gocompare.ie and Curragrove Financial Services Ltd may be remunerated for arranging insurance, pension and investment products on behalf of clients.
We act as an intermediary between consumers and product providers and may receive commission, fees or other forms of remuneration for services provided.
What Is Commission?
Commission is the payment received by an intermediary for work undertaken on behalf of both the consumer and the product provider.
The amount received may vary depending on:
Product type
Policy term
Premium amount
Investment value
Complexity of the case
Product provider requirements
Client circumstances
Types of Commission
Initial Commission
Initial commission is typically paid shortly after a policy or financial product is arranged and is generally based on the premium paid, amount invested or amount borrowed.
Renewal Commission
Renewal or trail commission may be paid throughout the lifetime of a policy or investment product. This ongoing remuneration supports the continued servicing and administration of client policies.
Indemnity Commission
In some cases, commission may be paid in advance before it is fully earned. Where a policy is cancelled or lapses during a specified period, part or all of this commission may need to be repaid to the product provider. This is known as a clawback.
Sustainability Considerations
When providing investment, pension or insurance-based investment advice, sustainability risks may form part of our assessment process. Different product providers may take different approaches to sustainability, and these factors may be considered when evaluating suitable products.
Insurance, Pension & Investment Products
Commission structures vary depending on the type of product arranged.
Products may include:
Mortgage Protection
Life Insurance
Serious Illness Cover
Income Protection
Pension Products
PRSAs
Savings Plans
Investment Products
Some products may pay initial commission only, while others may include ongoing renewal or trail commission.
Fees & Other Remuneration
In addition to commission, remuneration may include:
Policy fees
Administration fees
Advisory fees
Educational seminars provided by product providers
Marketing or branding support
Clawback Arrangements
Where commission is paid in advance, product providers may require repayment if a policy is cancelled, lapsed or amended during a specified clawback period.
Clawback periods vary depending on the insurer and product type.
Product Providers
Gocompare.ie may hold agency agreements with a range of insurance, pension and investment providers.
Commission arrangements differ between providers and products.
Detailed Commission Information
Detailed commission schedules, remuneration arrangements and maximum commission rates are available upon request.
Contact Information
For further information regarding commission arrangements, please contact:
Email: info@gocompare.ie
Ready to Compare Mortgage Protection Quotes?
Get instant online quotes from Ireland’s leading providers in minutes.