Insurance Companies We Use

If you use Bay Financial Partners Limited to take out an insurance policy the insurance company will pay us a commission. The amount of the commission we receive depends on the annual premium you pay. Typically we receive an upfront commission when you first take out a policy and then an ongoing servicing commission for every year the policy is in force. The rates vary according to the insurance company used and the type of policy. We will provide specific details of these commissions at the time advice is given.

Because the insurance companies pay us we generally don't have to charge you for our time. However if you cancel a policy within the first three years the insurance company will "claw back" the commission they have paid us and so we reserve the right to charge you for the time we spent arranging it.

A portion of insurance commissions are paid to the adviser.

We have Agency Agreements with the following Insurance Companies.:

AIA New Zealand Limited

AIA New Zealand Limited

Maximum Initial Payment: Life & Income 190% / Medical 120%

Ongoing Servicing Payment: Life & Income 7.5% / Medical 20%

Policies Offered: Life, Income and Medical Insurance

Distribution Agreement?: Yes

Asteron Life Limited

Asteron Life Limited

Maximum Initial Payment: Life & Income 75%

Ongoing Servicing Payment: Life & Income 10%

Policies Offered: Life & Income Insurance Only

Distribution Agreement?: Yes

Cigna Life Insurance New Zealand Limited

Cigna Life Insurance New Zealand Limited

Maximum Initial Payment: Life & Income 125%

Ongoing Servicing Payment: Life & Income 5%

Policies Offered: Life & Income Insurance Only

Distribution Agreement?: Yes

Fidelity Life Assurance Company Limited

Fidelity Life Assurance Company Limited

Maximum Initial Payment: Life & Income 100%

Ongoing Servicing Payment: Life & Income 4%

Policies Offered: Life & Income Insurance Only

Distribution Agreement?: Yes

nib NZ Limited

nib NZ Limited

Maximum Initial Payment: Medical 63%

Ongoing Servicing Payment: Medical 7%

Policies Offered: Medical Insurance Only

Distribution Agreement?: Yes

Southern Cross Health Society

Southern Cross Health Society

Maximum Initial Payment: Medical 30%

Ongoing Servicing Payment: Medical 5%

Policies Offered: Medical Insurance Only

Distribution Agreement?: Yes

Insurance

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The information on this site is intended as a guide only. The information is of a general nature and does not and cannot ever constitute personal advice.
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