Up to 86% of the premiums for small investment-based saving schemes goes on costs, commission and life insurance, according to research by broker Independer for the Financieele Dagblad.

Independer said while some 25% of a €300 monthly premium goes on costs, just 14% of a €75 premium can end up being invested. For a policy which runs for 30 years, total premiums would be €27,000 but the official savings would amount to just €3,821, Independer said.
Earlier research by the insurers association suggested an average of 40% of a premium goes on costs. Sources told the FD that Fortis and Aegon in particular sold small, short-term investment policies.