REMUNERATION STATEMENT

June 2025

 

Pursuant to provision 4.58A of the Central Bank of Ireland’s September 2019 Addendum to the Consumer Protection Code, this document is a summary of the details of the arrangements for remuneration of Level Health Ltd. which are agreed with its product producer, Aviva Ireland Insurance DAC. 

 

Level Health Limited arranges health insurance products and provides them to its customers. In relation to the provision of these health insurance products, Level Health Limited is regulated by the Central Bank of Ireland as a Retail Intermediary under the European Union (Insurance Distribution) Regulations 2018. 

 

Level Health Limited receives commission from Aviva Insurance Ireland DAC for health insurance policies sold and administered by Level Health. The commission will be equal to the amount of the premiums of the business less the costs of claims and the net cost of risk equalisation and a charge by Aviva Insurance Ireland DAC for underwriting the business. No fixed commission is payable. The expected average variable commission is of the order of 8.5% but it can be higher or lower than this depending on the cost of claims and the net cost of risk equalisation. The commission is the income of Level Health Ltd. to cover the full costs of the distribution and administration of the health insurance business. 

 

All remuneration is subject to clawback. If a policy is cancelled within the cooling off period (i.e. within 14 days of inception) then full commission paid is clawed back. If a policy is cancelled midterm, then a pro-rata clawback applies.

 

In addition, Level Health Limited may receive non-monetary benefits, such as complimentary access to advertising or promotional support.