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Home Become an IFA How Much Can You Earn? New Bonuses

New Bonuses

IFA bonuses have been reviewed and new bonuses were announced at the 2011 Mass Rally on 26 March 2011.

The following factors have been included in the revision:

  •  Cash payments for premiums will not count for qualification for all bonuses, effective from 20 April 2011.
  • In future, the last payment date of bonuses will coincide with the announcement of new bonuses.

CURRENT BONUSES

  • You Can 
  • Club 10


NEW BONUSES

  • Builders Bonus 5
  • Introducer Bonus 30 
  • Introducer Bonus 60

BONUS CHANGES

  • Discontinuation of Founders 5.
  • Discontinuation of Founders 5 Plus. 
  • Discontinuation of Enhanced Club 5 Extended. 
  • Discontinuation of Enhance Club 5 Plus Extended. 
  • Discontinuation of Club 10 Amnesty Extended. 
  • Discontinuation of Club 17 Enhanced Extended. 
  • Discontinuation of Club 27 Amnesty Extended.

CURRENT BONUSES

YOU CAN

  • With effect from 20 April 2011, in cases where R100 is paid, this payment is to be upgraded and will be incorporated into “You Can R200” to ensure that only one amount is paid for this bonus.
  • This bonus rewards new IFAs for their initial effort. IFAs who have never earned or received a You Can bonus before, can qualify for a R200 bonus. The You Can bonus will be paid when an IFA introduces 2 or more Key Appointments with the same DOC, provided all Key Appointments pay their premiums in the same earnings period. 

CLUB 10

  • The name of this bonus will change to Step-Up 10 as from 20 April 2011.
  • The first time that all 10 policies are paid in the same IFA Earnings Period, within three months of the first introduction, the IFA (Introducer) will receive a once-off bonus amount of R1000.

NEW BONUSES

NOTE: New bonus payments will take precedence over existing bonuses.

BUILDERS BONUS 5

  • An IFA Introducer must refer 5 new Key Appointments (Level 1), each with a premium- paying policy.
  • The 5 new Key Appointments do not need to have the same DOCs. The first DOC which will be considered is 1 March 2011 with a debit date of the 2nd onwards, that is payment date 20 April 2011.
  • The first time all 5 premium-paying Key Appointments pay their premiums in the same IFA earnings period, the IFA Introducer will receive a once-off bonus of R600. All the policies that are paid for will be considered as Month 1 for purposes of this bonus, and will be flagged as such. 
  • In the following month (Month 2), 5 of the flagged policies should pay their 2nd premiums in order for a R500 bonus to be paid. All the policies which meet Builders conditions and have been paid for in Month 2 (2nd consecutive months premium), will once again be flagged.
  • In the third month (Month 3), should 5 of the policies flagged in Month 2 and in Month 1 still be paid for (3rd consecutive premium), the IFA will be rewarded with a third bonus amount of R400. 
  • An IFA Introducer may refer more than 5 new Key Appointments and will be paid for each set of 5 new Key Appointments. These payments will be as indicated for Months 2 and 3 respectively, as per the terms and conditions outlined above. 
  • IFAs must pay the monthly IFA business fee in order to qualify for any Builders 5 Bonuses. 
  • The Builders 5 Bonus applies to all Clientèle products. 
  • The last time an IFA can qualify for the Month 1 bonus payment is 20 February 2012 
  • The last payment date is 20 April 2012. 
  • All policies for which an IFA Introducer may qualify are new policies captured for payment dates 20 April 2011 to 20 February 2012. 
  • Builders 5 Bonus replaces Enhanced Club 5 and Enhanced Club 5 Plus, for which the last published payments are 20 April 2011 and 20 June 2011 respectively. 
  • All cash payments, except policies where cash receipts are raised, will not count towards this bonus.

INTRODUCER BONUS 30 SUMMARY

  • R500 once-off bonus for every new first-time Club 30 created on Level 1. 
  • First payment date: 20 April 2011. 
  • Last payment date: 20 February 2012.

INTRODUCER BONUS 60 SUMMARY

  • R700 once-off bonus for every new first-time Club 60 created on Level 1. 
  • First payment date: 20 April 2011. 
  • Last payment date: 20 February 2012.

For more information, attend an IFA Presentation.