LABrokers.ie has introduced an "execution only" service for lump sum investments, on a nil commission basis.

Policies will be written for a one-off fee of £55, regardless of the amount invested. The fee is invoiced to the client after they have received their policy documentation from the life office.

For every 1 per cent of commission discounted, the client gets an extra 1 per cent allocation. Normal early encashment penalties apply.