- 6-8 York Place, Leeds, LS1 2DS
Financial Protection Specialists
Financial Protection Specialists
The address at which we are established and from where we will provide our services to you is Assurelife Ltd, Suite 24, York Place Buildings, 6-8 York Place, Leeds, LS1 2DS.
1. The Financial Services and Markets Act (FSMA)
The Financial Conduct Authority requires that we provide you with an Initial Disclosure Document to tell you about our services. It explains the products we are able to recommend, our status and our charging methods. We have elected to do this by issuing our comprehensive Terms of Business document that explains in detail all aspects about the way we operate and how this affects you.
Our Terms of Business become effective from the date of receipt and may be amended by us from time to time. You will be informed of any changes
to our Terms of Business in writing prior to conducting any new business with us, a current copy of which can also be found on our website www.assurelife.net/terms-of-business.
2. Your Status
Assurelife classifies all clients and prospective clients as ‘Consumers’ for noninvestment insurance mediation services. This means that you are afforded all protections under the rules of FCA and The Financial Services Compensation Scheme (FSCS) as detailed in section 4.
3. Our Status
Assurelife Ltd, Suite 24, York Place Buildings, 6-8 York Place, Leeds, LS1 2DS is authorised and regulated by the Financial Conduct Authority. Our Financial Services register number is 575942.
Our permitted business is advising on, arranging and making arrangements with a view to transactions in non-investment insurance contracts.
You can check this on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/firms/systems-reporting/register or by contacting
the FCA on 0800 111 6768.
We are registered in England and Wales at F6 The Bloc, Springfield Way, Anlaby, HU10 6RJ, under registration number 07643733.
4. Financial Services Compensation Scheme (FSCS)
All business conducted by Assurelife is covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our
obligations.
Long term insurance benefits (e.g. Life Assurance)
The maximum level of compensation for claims against firms declared in default is 100% of the claim with no upper limit.
General Insurance
General insurance advice and arranging is covered for 90% of the claim with no upper limit.
Protection is at 100% where claims arise in respect of compulsory insurance (e.g. employer’s liability insurance), professional indemnity insurance and certain claims for injury, sickness or infirmity of the
policyholder.
Further information about compensation scheme arrangements is available from the FSCS.
5. Scope of Advice
Assurelife offer products from a range of insurers for life, critical illness and income protection Insurance.
We offer sickness, accident and unemployment insurance from Paymentshield.
6. Cost of our Service
There will be no fee for advising / arranging a non-investment insurance product for you. You will receive a quotation which will tell you about any other fees relating to any particular insurance policy. We do receive a commission from the Insurance Provider.
We operate a staff remuneration policy, this is to ensure that the firm does not remunerate or assess the performance of any employees in a way that
conflicts with our duty to act in the best interests of our customers.
In particular, we must not make any arrangement by way of remuneration, sales targets or otherwise that could provide an incentive to our employees to recommend a product to a customer when the firm could offer a different product which would better meet the needs of that customer.
7. Records
We will keep computerised records of all business dealings with you for a period of up to 6 years from each transaction date. Upon written request we are happy to provide you with copies of these records.
8. Conducting Business with You
Assurelife conducts all of its business by telephone and email communication unless specifically requested otherwise. It is important that any information you provide to us is accurate and complete as this will form the basis of our advice to you and may form part of your insurance contract with the chosen provider. We shall record all information provided by you and store this electronically for future reference and review.
In accordance with FCA requirements prior to conducting any business you have been informed of our initial disclosure requirements in the form of this Terms of Business letter. Copies of our disclosure will be recorded on your file and we will update you from time to time in the event of a change or in line with our requirements.
Our authority to act on your behalf in accordance with these terms of business and our acceptance of the same can be terminated at any time by either side giving not less than 14 days’ notice in writing. All products that have been arranged by Assurelife on your behalf will remain in force unless otherwise instructed in writing by you to the provider. Products that are currently being underwritten and have not yet being incepted by you may be cancelled by providing written notice to Assurelife. All products arranged and advised by Assurelife are subject to the cancellation policy.
9. Conflicts of Interest
Occasions may arise where the firm, an employee, or other associates of the firm has competing professional or personal interests which may prevent these services being provided to clients in an independent or impartial manner.
We will take all appropriate steps to prevent conflicts of interests from occurring in line with the firm’s conflicts of interest policy. However, there may be occasions where a conflict of interest cannot be prevented. Where this is the case, we will disclose to you the nature of the conflict and the steps that we will take to mitigate the risks that you will be treated unfairly as a result of any conflicts identified.
We will make you aware of any conflicts of interest before the provision of services to enable you to choose whether you still wish to proceed withservices. A copy of the firms’ conflict of interest policy is available on request.
We may on occasion receive minor non-monetary benefits from third parties such as product providers e.g. food and drink provided at a provider training event. Where relevant, any minor non-monetary benefits received will not conflict with our duty to act in your best interests.
10. Cancellation Policy
If we advise and arrange a policy for you and you subsequently cease to pay the agreed premiums before the agreed policy end date we reserve the right to charge a cancellation fee of £199. You will not be charged if you have made more than 48 monthly payments to your policy or if you cancel the policy immediately within the 30 day statutory notice provided to you by the insurer.
Assurelife operates a fair and transparent cancellation policy. Personal and financial circumstances are always considered before the issue of any cancellation fees. If you wish to receive further information in relation to our cancellation policy then please contact customer services by email [email protected] or telephone 0113 895 0030.
11. Call Recording
Assurelife may record telephone calls for training and development purposes.
12. Policy Documents and Plan Ownership
As an intermediary, we never own the products you buy or transact through us. All products arranged by Assurelife on your behalf will be registered with the provider in your name. We will forward to you all policy and plan documents for your safekeeping but in most cases we will arrange for the provider to send the documents directly to you. If you do not receive your documents within 30 days of the policy commencement then please contact Assurelife customer services.
13. Client Money
Assurelife does not handle client’s money unless it is for the settlement of administration charges or disbursements.
14. Review
Our services are specifically geared to providing a telephone or postal based service. Non-investment insurance contracts are not kept under review however we may make a diary note upon completion of your transaction to re-contact you at a future date. The purpose of this would be for us to conduct a follow up review, as it may not be in your interests to remain with the initial product recommended. In addition, from time to time we may become aware of opportunities to make you aware of additional products and services. Where this occurs we may contact you, unless you specifically request otherwise. In addition, should you have any needs in the future regarding any of the services we offer then we would always be happy to hear from you.
15. Data Privacy
Our full Privacy Notice can be found at
http://www.assurelife.net/privacypolicy
16. What to do if you have a complaint
If you have a complaint please contact Assurelife Customer Services, Suite 24, York Place Buildings, 6-8 York Place, Leeds, LS1 2DS. Telephone: 0113 895 0030. Email: [email protected]
If you cannot settle your complaint with us, you are entitled to refer it to the Financial Ombudsman Service, Exchange Tower, London, E14 9SR. Telephone: 0300 123 9 123. Email:[email protected]. Website: www.financial-ombudsman.org.uk
17. Law
English law will be the basis of this contract and the language in which this contract will be interpreted, and in which all communications will be conducted, will be English. The Contracts (Rights of Third Parties) Act 1999 shall not apply to these Terms of Business
18. Means of Communication
We will provide information to you by whatever means are convenient to you. This could be by paper, email or other means. All such information will be made free of charge to you and in [English]. You may at any time choose to request information in paper and free of charge that has previously been provided to you by means other than paper. For example, where a communication was originally sent by email.
You may at any time choose to change your preferences as to how we communicate with you. However, where you choose to do this, we will require you to confirm this change in writing to us.