Net policy (commission-free insurance)

A net policy (Nettopolice) is an insurance policy without built-in sales commissions. The difference from a normal gross policy can amount to thousands of euros over the term.

How it works:

Gross policy (normal):

• The intermediary's commission is hidden in the premium (often 4–5% of the total premiums!)
• For a pension insurance policy at €200/month over 30 years: total premiums €72,000. Commission: €3,600–5,000 (!)
• These costs are deducted in the first 5 years – your balance barely grows

Net policy:

• No hidden commission
• You pay the adviser separately (a one-off €500–1,500)
• Ongoing costs: 0.5–1.5% instead of 2–3%
• Over 30 years: €10,000–30,000 more final assets!

Where can you get net policies? Only via fee-based advisers (not insurance agents). Providers: myLife, Alte Leipziger, Condor.