It is easy to earn cashback on a new or existing personal insurance policy such as :
Insurance companies pay very large sales commissions to brokers who have had a hand in establishing your policy and referring your business to them. These sales commissions are paid to your broker / financial planner / insurance agent both when the policy is first purchased and also every time you pay your premiums.
The amount of these sales commissions vary however can be in excess of 110% of your first year’s annual premiums or as high as 30% of your ongoing premiums. These ongoing sales commissions are often referred to as trailing commissions.
Even if you did not originally deal with an insurance broker or financial planner and applied directly to the insurer or over the internet, then there may still be trailing commissions generated by your policy and paid to the insurance company itself.
There are two ways that Cashback Club can assist you with earning cashback on your personal insurances –
If you are considering a new personal insurance policy Cashback Club can act as your broker for the policy. In this instance, as we are the broker in the set up of your new policy, your insurer will pay Cashback Club an initial sales commission of up to 110% of your first years premium. Cashback Club then credits 50% of this sales commission back to your Cashback Club account. You are then free to withdraw this cash at will.
This opportunity is part of Cashback Club’s “No Purchase Easy Cash” section which as the name suggests you don’t need to buy anything just collect cash from the products you already own.
If you already own a personal insurance policy it is easy to make Cashback Club the broker on your account. This will authorise us to collect the ongoing trailing commissions generated by your premium payments on your behalf. We then deposit these trailing commissions into your cashback account and you are free to withdraw these funds at will.
The process of making Cashback Club the broker on your account is simple as you need only complete a one page “Broker Nomination Form”. This can be done online or alternatively you may choose to print the form and either email, mail or fax it to us.
It is important to note that nominating Cashback Club as the broker on your policy will not alter the policy at all. It will continue to be the same policy with the same benefits and the same costs. The only thing that will change is the agent on the policy and therefore who is entitled to collect the commissions generated by your premiums.