IFA is a multi-level marketing company that works in the niche of insurance. Moreover, IFA stands for Independent Field Advertising.
They offer their affiliates an opportunity to earn money online. The affiliate can earn commission by recruiting new affiliates, or we can say by selling their membership to new affiliates.
If you are thinking to join the IFA MLM opportunity, then read this article till the end. It might change your opinion about joining the company.
In this article, I will do the unbiased review of IFA and tell you about their compensation plan, products, and everything else you want to know about the company.
About IFA – IFA Review
The company was started in 1998, and it operates on the domain ifa.co.za. Moreover, the company is a network marketing division of Clientèle Life Assurance Company.
On their website, they describe themself as a diversified financial services group which is listed on the Johannesburg Stock Exchange.
Furthermore, they claim themself as one of South Africa’s leading direct distributors of financial service products.
According to the IFA website, Basil Reekie is the chairman of the board of directors. Moreover, he is also one of the Clientèle Life’s Board of Directors.
Basil has some past experience in the insurance industry, and he joined Clientèle Life in 2008. However, we don’t get much information about his MLM experience due to which it seems that IFA is his first MLM venture.
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The company doesn’t have any retailable product or service. So the affiliates can only market the IFA membership itself to earn commissions.
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After signing on the IFA website, an affiliate can buy various insurance policies for themself, which are as follows.
- Ultimate Dignity Plan: It is a Funeral plan that will pay back all your premiums on death. The price of this plan is $10.45 per month.
- Funeral Plan: This plan will remove the dreaded burden of funeral expenses. Moreover, the price of this plan is $10 per month.
- Hospital Plus Plan: This plan will pay for the unforeseen expenses related to hospitalisation, and the price of this plan is $8.36 per month.
- Wealth Plan: This plan provides benefit from saving money each month. The price of this plan is $14 per month.
- Foundation Plan: This plan will provide the ultimate cash out when you need it most, and the price of this plan is $14 per month.
- Legal Plan: This plan will provide you with easy access to personal legal services. Furthermore, the price of this plan is $9.75 per month.
Moreover, every year of policy commencement IFA will increase your premium.
IFA Compensation Plan
IFA compensation plan pays its affiliate for recurring new affiliate to purchase the company policy plans. If an affiliate wants to qualify for earning a residual commission, then the affiliate needs to recruit and maintain at least five premium paying affiliates.
If any affiliate recruit the first two affiliates and both of them purchase the policy, then the company pays $14 direct commission to the affiliate.
Moreover, if any affiliate recruit the first ten affiliates and all of them purchase the policy, the company pays $104.50 direct commission to the affiliate.
Residual Recruitment Commission
IFA uses the uni-level compensation structure to pay residual commission to their affiliates. In the uni-level compensation structure, one affiliate is present at the top, and three are directly below it, which forms level 1.
Summary three-three more affiliates are present below the above three affiliates, which form level 2. In the same way, it goes so on up to level 6.
Moreover, if any level 1 affiliate recruits a new affiliate then the new affiliate get a position in level 2, and if level 2 affiliate recruits a new affiliate it goes to level 3. This same thing happens at all level.
However, the commission that any affiliate get will depend on the policy package they buy while joining the IFA.
The commission that affiliate gets on different policy packages is as follows.
Funeral Plan, Hospital Plus Plan and Foundation Plan
- 12% on level 1
- 24% on level 2 and level 3
- 9% on level 4
- 4.5% on level 5
- 2.25% on level 6
- 0.75% on level 1
- 1.5% on level 2 and 3
- 0.7% on level 4
- 0.4% on level 5
- 0.15% on level 6
- 3% on level 1
- 6% on level 2 and 3
- 2.5% on level 4
- 1.5% on level 5
- 1% on level 6
IFA also pay the bonuses to their affiliates when they fulfil specific criteria. Moreover, the bonuses that an affiliate gets is as follows.
- $20.29: To qualify for this an affiliate need to recruit and maintain 15 affiliates.
- $47: To qualify for this an affiliate need to recruit and maintain 30 affiliates.
- $62.70: To qualify for this an affiliate need to recruit and maintain 60 affiliates.
- $90.55: To qualify for this an affiliate need to recruit and maintain 100 affiliates.
- $111.45: To qualify for this an affiliate need to recruit and maintain 175 affiliates.
- $129.56: To qualify for this an affiliate need to recruit and maintain 250 affiliates.
- $153.60: To qualify for this an affiliate need to recruit and maintain 375 affiliates.
- $182.85: To qualify for this an affiliate need to recruit and maintain 500 affiliates.
- $266.80: To qualify for this an affiliate need to recruit and maintain 750 affiliates.
- $361.87: To qualify for this an affiliate need to recruit and maintain 1000 affiliates.
- $424.21: To qualify for this an affiliate need to recruit and maintain 1375 affiliates.
- $490: To qualify for this an affiliate need to recruit and maintain 1750 affiliates.
- $540: To qualify for this an affiliate need to recruit and maintain 2000 affiliates.
- $644.33: To qualify for this an affiliate need to recruit and maintain 2500 affiliates.
- $703.54: To qualify for this an affiliate need to recruit and maintain 5000 affiliates.
- $797.23: To qualify for this an affiliate need to recruit and maintain 3750 affiliates.
Final Verdict about IFA
Now by reading this article till now, you might have a question whether IFA is s scam or not. So the answer to your questions no IFA is not a scam company.
However, this doesn’t guarantee you can make a lot of money with their MLM scheme. There a lot of issues with the company, and one of them is their support system which is not much great.
Moreover, you need to put a lot of efforts in recruiting if you want to earn a great amount of money. Even there are chances that after putting a lot of hard work still, you will make very less.
Although IFA is a legitimate company, I would not recommend you to join their MLM opportunity.
Instead of this, you can go with more legit ways like Crypto Cloud Mining Companies. These Crypto Cloud Mining Companies are a safe way to invest money.
I hope you guys find my review of IFA helpful, and it gives you detailed knowledge about the company.