Share

Hospice launches insurance sales arm as new income stream to the sector

Hospice launches insurance sales arm as new income stream to the sector
News

Hospice launches insurance sales arm as new income stream to the sector

Fundraising | Kirsty Weakley | 13 May 2013

St Luke’s Hospice Cheshire has set up a new charity that will raise money for other charities by collecting commission from selling financial products.

Care2Save is a registered charity which donates 80 per cent of the commission it receives when people purchase insurance to the charity chosen by the consumer. The other 20 per cent of its commission goes to the Care2Save Charitable Trust which will distribute profits to hospices and palliative care projects.

It is an introducer appointed representative (IAR) of Payplan Financial Services (PFS), meaning Care2Save refers consumers for financial products to PFS through its website, and then collects commission for the introduction.

For each transaction it receives 7.5 per cent of the cost of the policy as commission for the first year and 15 per cent for the second year onwards. Payplan receives 22.5 per cent in the first year and 15 per cent thereafter. 

Care2Save has launched offering home, buildings and contents insurance but plans to expand.

The original concept came from Andrea Ladeira, who is director of business and support services at St Luke’s and the new chief executive of Care2Give. She said: "We are immensely proud of Care2Save which we are wholly confident will change the way people give to charity. Initially the site has been launched with insurance products, and this will be expanded over to time to other household utilities. The sky really is the limit.”

She added: “We hear so many stories about under-funded charities, and others concerning businesses behaving unethically. If we can create funding for charities to do more in our communities simply by choosing to buy through Care2Save then why wouldn’t we make that choice.”

 

 Example: Home insurance policy of £276

Year 1 

 

30 per cent commission paid 

£82.80

22.5 per cent of the commission is paid to Payplan Financial Services 

£62.10

7.5 per cent is paid to paid to Care2Save

£20.70  (16.56 to the consumer’s chosen charity and £4.14 to the Care2Save Charitable Trust)


Year 2 onwards

 

30 per cent commission paid  £82.80

£82.80

15 per cent of the commission is paid to Payplan Financial Services

£41.40

15 per cent of the commission is paid to Care2Save

£41.40 (£33.12 to the consumer’s chosen charity and £8.28 to Care2Save Charitable Trust)

 

 

 

website link

 
 
 

Want access to all civilsociety.co.uk content?

Subscribers gain access to all expert advice, analysis, surveys, special reports and the full archive of content from as little as £43.20 per year. Find out more...

Comments

[Cancel] | Reply to:

Close »

Community Standards

The civilsociety.co.uk community and comments board is intended as a platform for informed and civilised debate.

We hope to encourage a broad range of views, however, there are standards that we expect commentators to uphold. We reserve the right to delete or amend any comments that do not adhere to these standards.

We welcome:

  • Robust but respectful debate
  • Strongly held opinions
  • Intelligent relevant discussion
  • The sharing of relevant experiences
  • New participants

We will not publish:

  • Rude, threatening, offensive, obscene or abusive language, or links to such material
  • Links to commercial organisations or spam postings. The comments board is not an advertising platform
  • The posting of contact details for yourself or others
  • Comments intended for malicious purpose or mindless abuse
  • Comments purporting to be from another person or organisation under false pretences
  • Gratuitous criticism, commentary or self-promotion
  • Any material which breaches copyright or privacy laws, or could be considered libellous
  • The use of the comments board for the pursuit or extension of personal disputes

Be aware:

  • Views expressed on the comments board are left at users’ discretion and are in no way views held or supported by Civil Society Media
  • Comments left by others may not be accurate, do not rely on them as fact
  • You may be misunderstood - sarcasm and humour can easily be taken out of context, try to be clear

Please:

  • Enjoy the opportunity to express your opinion and respect the right of others to express theirs
  • Confine your remarks to issues rather than personalities

Together we can keep our community a polite, respectful and intelligent platform for discussion.

Free eNews

Uniformed youth groups benefit from £10m in bank fines

21 Aug 2014

The Scouts and Guides are among those who will benefit from the new £10m Uniformed Youth Social Action...

Awema charity boss claims he paid back £100,000 and denies dishonesty

21 Aug 2014

A former charity boss accused of fraud said he paid back more than £100,000, and denies any wrongdoing,...

Big Society Network parent charity applies to wind itself up

20 Aug 2014

Society Network Foundation, the charitable parent of Big Society Network, has applied to Companies House...

Jersey charity pilots free healthcare programme for the poor

21 Aug 2014

A Jersey charity launched a free and subsidised healthcare programme yesterday for people on low incomes....

Awema charity boss claims he paid back £100,000 and denies dishonesty

21 Aug 2014

A former charity boss accused of fraud said he paid back more than £100,000, and denies any wrongdoing,...

Big Society Network parent charity applies to wind itself up

20 Aug 2014

Society Network Foundation, the charitable parent of Big Society Network, has applied to Companies House...

Macmillan: We did not hijack #icebucketchallenge

21 Aug 2014

Macmillan has hit back against accusations on social media that it has hijacked #icebucketchallenge, saying...

Smart wristbands aim to increase charity giving

20 Aug 2014

A new wristband that will enable people to make faster donations with just a tap of a smartphone, is...

National Trust to develop new website in £2m digital upgrade

15 Aug 2014

The National Trust has budgeted £2m to update its digital services, including a new website and mobile...

Join the discussion

Twitter button

@CSFundraising