Holloway Friendly increases new business commission
Holloway Friendly has announced a 14% increase in new business commission rates for advisers on all income protection products.
The friendly society will increase commission for online submissions from 140% to 160% on both Purely IP plans, Classic plus, and its newest product Essential Illness IP.
Mat Manser, sales and marketing director for Holloway Friendly, said:
“Holloway Friendly has kept its premium rates the same over the last five years, which has been achieved by efficient use of technology in new business and underwriting, but we understand the cost of providing advice has increased.
“It is only fair that we recognise the increased commercial pressure on our intermediary partners and share some of that burden. We are able to do that, without increasing our premiums, due to the way we are run, and our mutual status.”
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