How do we get paid?
It’s important to us that you get the best deal possible when taking out your insurance. That’s why at Find Insurance, we compare and provide quotes for you that are priced at exactly the same cost as if you were to go direct to the insurer yourself. In other words, if you obtain your own quotes it is likely you will have to pay the same or more compared to doing it through Find Insurance. You might as well let us help you find the cover for you given you won’t be saving any money doing it yourself.
So how do we make money? Firstly, we ask you to pay a small upfront fee. This small fee makes sure we are not dealing with tire kickers but people who are serious about getting good advice and appropriate cover.
Then, after you purchase insurance, the insurer will pay us a commission. We usually get around 33% of what you pay in premiums. So, if your premium is $1000 then we will receive around $330. If we are only getting $330 per year in commissions then it will usually take us about 10 years before we recover our cost of doing all of this work. In the past you could receive 120% in commissions…those days are long gone. Many advisors don’t want to provide personal insurance advice anymore because it takes a long time to recoup costs. However, we think it is an important service to offer so we will continue to provide advice in this area.
Of the amount we receive in commissions, if there is a referral agreement in place and you have been referred to us, then the referral partner will also receive a percentage of the commissions as well. You pay no extra in premiums. We simply pay the referral partner a share of what we receive in commissions.
How do we choose companies to compare?
We work with some of the leading life insurance companies in Australia. We’re proud to have them as partners because they are some of the country’s largest insurers and have been around for a very long time.
Our partnership with each company is a commercial relationship. We receive remuneration in the form of commissions.