How we get paid

Transparency matters. Here's exactly how the advisory model works in New Zealand.

The simple explanation

Insurance advisers in New Zealand are primarily paid through commissions from the insurance companies, not from you.

As the Financial Markets Authority (FMA) explains: "A commission means you won't have to pay directly; the commission is paid to the adviser by the company selling the product. Commission costs are built into the premium charged to you."

Commissions typically include an upfront component (paid when the policy is placed) and a smaller ongoing trail commission (paid annually for as long as the policy is in force). If a client cancels within approximately the first two years, the adviser is generally required to repay a portion of the upfront commission.

Does using an adviser cost more?

In most cases, no. The commission is built into the standard premium pricing. Whether you buy through an adviser, go directly to an insurer, or use a comparison website, the premium you pay is generally the same.

The FMA confirms: "Even if you buy your insurance online (for example, through a comparison website) the pricing will typically include a commission."

How we manage conflicts

Commissions create a potential conflict of interest. We acknowledge that openly. Here's how we manage it:

All conflicts of interest are disclosed upfront, as required by law
We advise across multiple insurers. Not tied to any single provider
Recommendations are based on your needs analysis, not commission structure

What "independent" means in NZ

New Zealand's regulatory framework focuses on disclosure rather than prescribing a statutory definition of "independent." Under Schedule 21A of the FMC Regulations, advisers must disclose whether they give advice on products from particular providers only, identify those providers, and explain any material limitations on the advice they can offer.

Non-aligned advisers, like the advisers connected through QuoteHub, typically hold agency agreements with multiple major NZ insurers (such as AIA, Partners Life, Fidelity Life, Chubb Life, nib, and Asteron Life). This allows them to compare options across providers based on your individual situation.

View our full disclosure

The information on this page is general in nature and does not constitute personalised financial advice. Commission structures, conflicts of interest, and scope limitations are disclosed as required under FMA regulations. Please refer to our Disclosure page for full details.