Maturity bonus now included in FDIA
Changes to how additional maturity payments are paid to exclusive sellers have been outlined by Golden Charter CEO Ronnie Wayte at the SAIFCharter AGM.
In recent years, a bonus was declared on plans maturing in the previous year, paid to funeral directors as a lump sum in December. This year, we are making two changes to that position, and both are extremely good news for Independents.
The bonus due to Premier and SAIFCharter members for plans invoiced between April 2015 and March 2016 has been brought forward to be paid in July of this year. Then, for plans that mature from 1 April onwards, we will incorporate the maturity bonus payment within the FDIA – so you have no delay in benefiting. This is a transition year; next year all payments will be included in the FDIA. The sum added to each plan depends on your membership status and the date that the plan was started.
Gordon Swan, Golden Charter’s Director of Communications, said: “This is a very positive move for our exclusive sellers and for the company. For the first time, these Independents’ staff are able to see the total value of each maturing plan. This means that on a day-to-day basis they will have visibility of the larger returns they are getting from Golden Charter in comparison to plans from other providers.”
A Goldenews has supplied Independents with details about their payments; please contact your local Golden Charter representative with any further queries.
Tags: additional maturity bonus, FDIA, maturities, SAIFCharter