Terms of Business Agreement for Lifesure Group Limited
This document details our service and our arrangements for dealing with your insurance. Please read it carefully and retain a copy for your records. The English language will be used for all communications, the contractual terms and conditions and any information we are required to supply to you, before and during the duration of the contract and this agreement shall be subject to English Law (Scottish Law, where issued in Scotland).
The Financial Conduct Authority (FCA)
The FCA is the independent watchdog that regulates financial services. Lifesure Group Limited is authorised and regulated by the Financial Conduct Authority under register number 305038 for Insurance Mediation activities and as a credit broker. We do not charge any fees to customers in relation to credit broking. You can check our status at https://register.fca.org.uk or by contacting the FCA on 0800 111 6768. Our permitted business includes advising, arranging, dealing in and assisting with the placing and administration of general insurance policies.
How we treat information you give to us
Where we would like to use your data for marketing purposes, we will ask for your consent to do so.
Your personal information includes all of the details you have given us to process your insurance policy (we will not ask for more information than is necessary). We may share your data with third parties for the provision and ongoing performance of your insurance policy. Your data may be transferred outside the UK. We will not sell, rent or trade your data under any circumstances. All of the personal information you supply to us will be handled strictly in accordance with the applicable Data Protection regulations and legislation.
Our service to you and the products we offer
We are an independent insurance intermediary, who acts on our customers' behalf in arranging insurance and as an agent to the insurer. Our services include advising you on your insurance needs, arranging your insurance cover with insurers to meet your requirements; and helping you with any ongoing changes. We typically offer advice from a range of insurers, representing a fair analysis of the market. However, under certain circumstances we will only deal with a limited panel, or a single insurer. We will let you know if this is the case. We will advise and make a recommendation for you after we have conducted a fair and personal analysis of your demands and needs. Our advice will be confirmed in a demands and needs and suitability statement, giving reasons for our recommendation.
In respect of policies purchased on our website and optional extras of legal expenses, personal accident, home emergency assistance, emergency key protection, substitute vehicle cover, excess protection and caravan breakdown, you will not receive advice or a recommendation from us and you will then need to make your own choice about how to proceed. You may review the insurers we work with for our products by visiting lifesure.co.uk where you will find policy documents for each policy. These detail the insurance cover available.
Who we work with
As part of our service, we will assist you with any claim you need to make and tell you what your responsibilities are in relation to making claims.
All incidents which could lead to a claim must be reported as soon as possible. Your insurer's claims contact number is shown in your policy wording. For motor, home, park home and caravan insurance we operate an outsourced claims management service via Soter Professional Services Ltd, who will assist you with your claim and recovery of uninsured losses where this is possible.
Information on payment options and how we will treat payments you make to us
We accept the following credit/debit cards - Visa, Mastercard. You may be able to spread your payments through a credit scheme, which we have arranged with an insurance premium finance provider. Rates and acceptance are subject to a credit check. We will give you full information about your payment options and the appropriate finance agreement when we discuss your insurance in detail.
Under the terms of our agreements with the insurance companies we use, we normally receive premiums you pay to us as an agent of the insurer. All insurance premiums you pay to us are protected in a statutory trust client account until we pay insurers. We do not pay interest on premiums held by us in the course of arranging and administering your insurance.
Our fees and charges for providing our services to you
We receive a commission from the insurer with whom we place your business. In addition, we will charge you with the following administration fees:
£27.50 for arranging a new policy, making changes to your policy midterm, or cancelling your policy
£12.50 for a new policy purchased online
£22.50 for arranging a renewal
£12.50 specific to static or tourer caravan insurance, for arranging a renewal
£10.00 for a second or further set of replacement or duplicate printed documents
£30.00 if you do not pay any outstanding monies to us, within 7 days of us writing to you
£57.50 specific to convicted driver insurance, for arranging a new policy, making changes to your policy midterm, arranging a renewal, or cancelling your policy
You have a legal right to cancel your policy or credit agreement for any reason. You have a ‘cooling-off’ period which begins from the day you purchase a policy and runs for 14 days. During this period, you should review all of your documents to consider if the policy and terms and conditions are right for you. You will always be advised where this right applies.
Cancellation within the 14 day cooling-off period
If you cancel your policy within 14 days of the start date, we will refund you as long as there has not been a claim or an incident that might lead to a claim. We will retain our administration fee and you may be charged by the insurer for time on cover. If you choose to pay for your insurance by instalments, you enter into a credit agreement with the premium finance provider. You can withdraw from the credit agreement free of charge within 14 days starting the day after you enter into the agreement. If you do, you will have to pay back in full any credit you have received.
Cancellation after the 14 day cooling-off period
If you cancel your policy more than 14 days after the start date, we will refund you as long as there has not been a claim or an incident that might lead to a claim. We will retain our administration fee and you may be charged by the insurer for time on cover. In addition, we charge a cancellation fee of £27.50, except for our specialist policies for convicted drivers, where the cancellation fee is £57.50.
We will also be entitled to retain in full any commissions and fees that applied, as if the policy had run for its full term. We will deduct our commission charge from any premium returned to us by the insurer. Any balance that remains after deduction of our commission charge and fees will be refunded to you.
At times, we may arrange a policy on which we earn no commission and we may make additional charges specific to the arrangement and servicing of certain policies. In these cases, we will let you know how much administration fee we will charge before you take out the policy.
Insurer cancellation terms may vary. For specific cancellation terms for your policy, please refer to the Insurance Product Information Document and your Policy Booklet for further details.
We will not refund amounts less than £5.00.
Optional extras of legal expenses, personal accident, home emergency assistance, key protection, substitute vehicle, excess protection and caravan breakdown are not refundable after the 14 day cooling-off period.
If you choose to pay for your insurance by instalments, you enter into a credit agreement with the premium finance provider. If your credit agreement is cancelled for any reason after 14 days, you will have to pay back in full any credit you have received, and any fees charged by the premium finance provider. We will deduct sums owed to the premium finance provider from any premium returned to us by the insurer, before making a refund to you. If money is still owed to the premium finance provider, you will need to pay this in full.
Premium finance facilities and service
We are authorised as a credit broker and use insurers and finance providers who will conduct a credit check. This will be recorded on your credit record. Please contact us if you do NOT consent to a credit check being undertaken. However, this may affect our ability to offer instalment facilities to you.
In relation to the provision of credit, we only offer the facilities provided by insurers or finance providers from whom we receive a commission. We will not offer you any advice on premium finance facilities available through us and you will need to decide yourself on the suitability of any credit agreement offered.
Please note: your policy cover will cease if you fail to keep up payments on an instalment agreement or premium finance facility related to it and your credit rating may be affected.
In entering into a credit agreement to pay your insurance premium, you give the finance provider the legal right to cancel your insurance policy on your behalf in the event that you default on the loan, and offset any refunded premium against the outstanding amount owed to them. This means that if you default on your payment terms and the finance provider requests that we cancel your policies, we will do so as your agent.
Conflict of interest
Lifesure does not hold, directly or indirectly, 10% or more of the voting rights or of the capital in any given insurance undertaking. Similarly, no insurance undertaking holds 10% or more of the voting rights of the capital in Lifesure Group Limited.
Your responsibility to provide information
You must take reasonable care to answer all questions honestly and to the best of your knowledge, and if you volunteer any other information, you must ensure that the information is not misleading.
If any information that you have provided to us changes before you take out your insurance, during the life of the policy or at renewal, you must inform us of the change. If you deliberately, recklessly or carelessly misrepresent any information in relation to this insurance then your policy may be cancelled without refund, or treated as if it never existed, or your claim rejected or not fully paid.
Our aim is always to provide our customers with a first-class service; however we are aware that occasionally we may fail to meet our customers’ expectations. If you wish to register a complaint, you can contact us as follows:
3 Fenice Court
If we cannot resolve your complaint to your satisfaction, you may be entitled to refer it to the Financial Ombudsman Service for an independent assessment and opinion. Any referral must be made within 6 months following Lifesure Group Limited advising you that we cannot assist you further. The Ombudsman may be contacted in the following ways:
Financial Ombudsman Service
0800 023 4567
The Financial Services Compensation Scheme (FSCS):
We are covered by the Financial Services Compensation scheme (FSCS). Insurance advising and arranging is covered for 90% of the claim, without an upper limit. For compulsory insurances (for example, motor insurance and employers’ liability insurance), insurance advising and arranging is covered for 100% of the claim, without an upper limit. Further information about compensation scheme arrangements is available from the FSCS.
Updated December 2021