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Major bank announces commission bonus

by Staff Reporter7 minute read
The Adviser

Westpac has doubled some insurance commissions for the next three months.

The bank's general manager of mortgage broker distribution, Tony MacRae, said brokers would receive double the commission payment for all sales made from home and contents insurance referrals until the end of July.

The standard broker referral commission will rise from $58 per risk to $116 per risk.

Payments will be made for each risk sold. Risks that will generate payments are building, contents, personal valuables and landlord extras. This means that brokers can earn payments for up to three risks per policy.

“At Westpac, we’re very aware of the important role that brokers play in helping Australians protect their homes and assets,” Mr MacRae said.

“For your clients, we’ve got great insurance discounts as part of our Premium Advantage package home loans.”


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