Terms Of Business
The basis on which we provide services to you
Terms Of Business
Shane Tobin T/A Low Quotes & MyBroker Insurances
Unit 17, Kilminchy Court, Portlaoise, Co. Laois
Services which Shane Tobin T/A Low Quotes & MyBroker Insurances provides
TERMS OF BUSINESS
This Terms of Business is applicable from 30/3/2020 and provides important information regarding the way that we provide our services to you. If you have any questions or require clarification on a particular matter please do not hesitate to contact us.
LowQuotes holds appointment with Broker Assist Ltd, to allow us to access products with the following providers Zurich Life, Aviva Life & Pensions, Friends First Life Assurance Ltd, Royal London, and New Ireland Assurance Co plc.
We are an Insurance Intermediary. We provide advice in relation to Life Assurance, pension and investment products.
We are not under a contractual obligation to conduct Insurance distribution business exclusively with one or more Insurance Undertakings and do not give advice on the basis of a fair and personal analysis, we do however provide advice from the selection of products provided by the Companies we have agencies with. We recommend the product that, in our professional opinion, is best suited to your needs, demands and objectives from this selection of products. Discounts online are Up to 30%, based on the product, company and the benefits chosen.
As part of the process when giving our clients advice we will need to gather information with regards your investment knowledge and experience, if this information is not provided we will not be in a position to determine whether the product is appropriate for you.
LowQuotes is paid commission and other payments from the Product Producers to whom orders are transmitted. Summary details of these payments in relation to life and pension products will be provided in a product information document, which you are legally entitled to receive before an application for a life or pension product is completed, and full details will be included with any new life or pensions policy document issues. LowQuotes may also charge you a fee for the services provided. Where fees arise, they will be confirmed and agreed in writing with you prior to completion of any business. Where we receive recurring commission from the product producer which will be outlined prior to affecting your policy, we will provide an on-going service to you for that policy, we will send you an annual update on your business as part of this service.
A summary of the details of all arrangements for any fee, commission, other reward or remuneration paid or provided to us by the product producers” is available here. If you need further explanation on this information, please do not hesitate to call us.
Shane Tobin T/A MyBroker Insurances & Low Quotes is regulated by the Central Bank of Ireland. Our Reference code is C48638 MyBroker Insurances is subject to the Central Bank of Ireland Codes of Conduct; Consumer Protection Code 2012, the Minimum Competency Code and Fitness and Probity rules which offers protection to consumers and can be found on the Central Bank’s website www.centralbank.ie, you can also verify our authorisation on this website.
LowQuotes is a member of the Investor Compensation Scheme. The Investor Compensation Scheme Act 1998 provides for payment, in certain circumstances, of compensation to certain clients (known as “eligible investors”) in the event of default by LowQuotes. Where an entitlement to compensation is established, the compensation payable will be the lesser of 90% of the amount of the loss, or €20,000. Your normal legal rights are not affected by this scheme.
Conflicts of Interest
It is our policy to avoid any conflict of interest when providing services our clients. However, where an unavoidable conflict arises we will advise and agree this with you in writing before providing any business service. We use a telesales company for marketing purposes which Shane Tobin is one of the directors. If you have not been advised of any such conflict you may assume that none arises. As per our remuneration policy we are paid commission by the Providers for your business.
Claims should be advised to the insurer when the claim arises. The insurer will advise you of its claims requirements and provide you with a copy of its claims process on request. If you experience any difficulty with the insurer’s claims process you should contact us.
LowQuotes complies with the requirements of the Data Protection Regulations 1988-2018. The data which you provide to us will be held on a computer database and on paper files for the purpose of arranging transactions on your behalf. The data will be processed only for the purposes for which it was intended. We will not disclose such information except as permitted by you or as required by law. A Data Privacy Notice is at the end of these terms.
Any policies written as part of the advice to which this Terms of Business relates will be written under the specific agency number allocated to us by the institution providing there commended assurance policy(s). Under this Terms of Business you agree that we are permitted to arrange transfer of the related policy(s) to a different agency number, which could be a third party regulated advisor, provided we advise you beforehand in writing giving you a minimum of two months’ notice and the authority to refuse any agency transfer at that time.
LowQuotes has a written procedure in place for the effective consideration and handling of complaints. Complaints can be in writing by email, in person or by phone, if it is by phone or in person we will firstly write to you to confirm our understanding of your complaint. Complaints will be recorded and acknowledged in writing within 5 working days. All complaints will be fully investigated and the outcome of the investigation will be communicated to the complainant. We will provide a complainant with regular updates at intervals not greater than 20 days. If your complaint is still not resolved to your satisfaction, and as a final step, you may refer your complaint to the Financial Services & Pensions Ombudsman, Lincoln House, Lincoln Place, Dublin 2, Lo call 01 5677000 email firstname.lastname@example.org. Please send any complaints to Shane Tobin, LowQuotes, at address above
We recommend that all cheques or negotiable instruments are made payable to the appropriate Product Provider for Life and Pensions business. We shall issue a receipt for each payment received under the Consumer Protection Code 2012. These receipts are issued with your protection in mind and should be stored safely. The acceptance by LowQuotes of a completed proposal DOES NOT in itself constitute the effecting of a policy. It is only when the product provider confirms the policy is in place that your policy is live.
Default of payments
LowQuotes will, if necessary, exercise its legal right to receive any payments due to it from clients for business services provided by it and to be reimbursed for any value obtained by the firm on behalf of clients who subsequently default in any payment due to the firm. Product producers may withdraw benefits or cover on default of any payments due under any products arranged for your benefit. Details of these provisions will be included in your product terms and conditions.
It is your responsibility to provide complete and accurate information to us and insurers when you affect your policy, throughout the life of your policy. It is important that you ensure that all statements you make on proposal or claim forms and other documents are full and accurate. We cannot be held responsible for incorrect data held in the event of non-disclosure. If you fail to disclose any material information to us or your insurers, this could invalidate your insurance cover and could mean that part or all of a claim may not be paid. To assist us in providing you with a comprehensive service and to keep our records as up-to date as possible, please notify us of any changes to your personal circumstances, e.g. name change, change of address, etc. as soon as possible.
Governing Law and Business Succession
These Terms of Business shall be governed by and construed in all respects according to the laws of the Republic of Ireland and will be deemed to cover any successors in business to LowQuotes.
By Agreeing with our Terms of business, I/We acknowledge that I/we have been provided with Terms of Business and Data Privacy Notice for LowQuotes and confirm that I/we have read and fully understand them.
By Agreeing with our Terms of business, I/We consent to LowQuotes making contact with me in relation to the range of services provided by ourselves on our associated or partnership companies which we feel may be of interest to you and the sharing of relevant information. We will still be allowed to contact you in relation to the business we have advised you on, even if you opt out of marketing material. You have the right to be removed from our marketing lists in the future by contacting us and requesting removal.
We will contact you by means of Post, Email, Phone, Text & Social Media. We may also use automated data processing or profiling to allow us to give you quotes etc, and for marketing purposes, by agreeing to these terms of business you are also agreeing to us using these systems on your data.
Any vouchers/gift cards offered by Lowquotes.ie apply only to policies over €30.00 Per Month Premium. One4All Vouchers will be sent via An Post following the first Direct Debit payment of your applicable policy. Free Will Kits will be sent via Email for ease of editing, unless requested otherwise.
Shane Tobin T/A MyBroker Insurances and Lowquotes is regulated by the Central Bank of Ireland.