Refund Case Studies
The following are real life examples of the amount of commissions that can be received.
For the few minutes it takes to register your products with MyMoney you could be receiving thousands of dollars.
Case Study: Jim and Mary
James and Merle are a couple still in thier 50's, still working,and registered a number of products all paying various amounts of commission. They registered both names under one MyMoney account and have maximised their refund by doing so.
|
Superannuation
|
$200,000
|
$100,000
|
$300,000
|
0.55%
|
$1,650
|
|
Managed Funds
|
$35,000
|
$65,000
|
$100,000
|
0.30%
|
$300
|
|
Life Insurance
|
$950 pa
|
$670 pa
|
$1,620
|
10.00%
|
$162
|
|
Total Commissions
|
$2,112
|
|
MyMoney Fee(inc GST)
|
$264
|
|
Payment to Jim & Mary
|
$1,848
|
Average monthly payment to James and Merle $154.00. This adds up to total payments over a 7 year period of $12,936.00 (assuming no increase in account balance, additional contributions or premiums).
Case Study: Jack
Jack is in his 60's and still working. He has registered with MyMoney only his Life and Income protection insurance policies. Jack pays the premiums on these policies every 6 months. At Jack's age it is unlikely that he can have the policy re-written to take any advantage of a policy that does not pay commission
| Term Life |
$4,456.32 ($2,228.16 each 6 months) |
30% |
$1,336.90 |
| Income Protection |
$8,318.22 ($4,159.11 each 6 months) |
30% |
$2,495.46 |
| Total Commissions |
$3,832.36 |
| MyMoney Fee(inc GST) |
$264.00 |
| Payment to Jack |
$3,568.36 |
This adds up to total payments over a 7 year period of $24,978.53 (assuming no increase in premiums).