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is it normal to charge?
homealone_2
Posts: 2,004 Forumite
my husband had a free financial review done (company perk) two years ago and was advised to take a policy for 10 years with a pay out of 100k. unfortunately at time he did not send off paperwork and we have only now realised. we got onto legal and general today who were offering best deal at time or so fa said. she took down details but had some still on file from original quote, all looked ok until paperwork arrived today and on last page it says consultantcy fee £342.57. he rang to querie and she said oh thats not a payment for e but comes out of your premium. he said ok, still no wiser??? is this normal? it was not on any of the original paperwork so am not sure if this is the norm or should i shop around/ if it is the norm how exactly does it come out of the premium?
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Comments
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Its commission and not a fee. You dont pay commission. The provider does. The provider gets back in policy fees.my husband had a free financial review done (company perk) two years ago
It's not strictly true. That means you are not having to pay a fee for the review but any products purchased will pay the adviser a commission. This is standard for most advisers.
I think you should seek independent advice. The only way L&G would have records of that old quote was if the adviser you saw was a tied agent of L&G. You should never get advice from a tied agent.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
anyone have any more advivce? looks like it good advice to give l & g a wide berth but where else can i go for a no hidden costs policy?0
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someone please help am getting myself in a real flap. do i go with the legal and general quote or not. dunstonh kindly replied and said its commom for this commission thing (if i have read it correctly) i know i should be calming down but the whole thing has me in a state thinking hubby was covered for 2 years and he wasnt. the thought of all those debts to pay on my DLA. was only getting a 10 year term for the sum of 100k to cover debts. mine was similar and runs out in 10 yrs hoping we in better position then to get something with a lttle bit of a pay out as well as death benefit for kids0
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