Terms and conditions - Over 50s Life Insurance
The details below relate to our online Over 50s Life Insurance comparison. For our company Terms & Conditions please click here
Cavendish Online Ltd
Cavendish Online Ltd is an Independent Financial Adviser (IFA) and is authorised and regulated by the Financial Conduct Authority (FCA). Our company number is 4045709 and our Financial Services Register number is 469385.
Cavendish Online is bound by the rules of the Financial Conduct Authority and will provide non-advised sales on our website in accordance with the FCA's Insurance Conduct of Business (ICOB) rules on a whole of market basis.
Cavendish Online will provide advised sales over the phone for protection products only in accordance with the FCA's Insurance Conduct of Business (ICOB) rules on a whole of market basis.
Our online comparison service for Over 50s Life Insurance is a non-advised execution only service.
You can choose to receive advice with regards to protection products (Over 50s life insurance, life insurance, income protection etc) from Cavendish Online In-House advisory service over the phone, or you can choose to proceed online on an execution-only basis with no advice.
If you have any doubts about the suitability of any protection policies, then please contact our Advisers who will be able to assist you.
Our fee & Cashback offering
Our fees and cashback offering will vary depending on which product you choose:
Royal London - Cavendish Online will receive a £40 commission from Royal London. The trest of the commission we will receive (£300) will be given to the customer as cashback over the term of the policy subject to terms and conditions (for full details please visit https://over50s.cavendishonline.co.uk/cashback)
Shepherds Friendly – Cavendish Online will receive commission from Shepherds Friendly. A £40 fee will be taken and the remaining amount will be given to the customer as cashback over the term of the policy subject to terms and conditions (for full details please visit https://over50s.cavendishonline.co.uk/cashback). The amount of cashback will vary depending on the amount of commission received. The maximum amount of cashback will be £300 with any remaining excess commission kept by Cavendish Online.
One Family – Cavendish Online will receive commission from One Family. A £40 fee will be taken and the remaining amount will be given to the customer as cashback over the term of the policy subject to terms and conditions (for full details please visit https://over50s.cavendishonline.co.uk/cashback). The amount of cashback will vary depending on the amount of commission received. The maximum amount of cashback will be £300 with any remaining excess commission kept by Cavendish Online.
Full Disclosure of Information
We require our clients to give us written instructions to act on their behalf on an execution-only basis. We will accept your instructions by mail or email. We will confirm all such instructions by mail or email.
You or we may terminate our authority to act on your behalf at any time without penalty. Notice of this termination must be given in writing. In case of termination of our authority, we will retain the right to any renewal commission on policies and investments arranged by us on your behalf unless or until you change the agency of your plan to another adviser.
Execution-Only service - We derive our income from fees paid to us by you in respect of transactions in life insurance or by commission being paid to us from such transactions. We shall tell you the amount of commission payable to us on any such products and the discounts that you are entitled to and shall receive.
If you should have any complaint about a product or service which you have bought through Cavendish Online or a complaint about the service received by Cavendish Online, please write to the Compliance Officer, Cavendish Online, 20 Cathedral Yard, Exeter, EX1 1HB. Alternatively, please call us on 01392439854 or email to firstname.lastname@example.org. We are committed to providing services of the very highest standards. If you feel that we have not lived up to your expectations in any way, we would like to know so we can put things right for you.
We will do all we can to resolve your complaint by the end of the next working day. If we cannot do this, we will write to you within five working days to tell you what we have done to resolve the problem, or acknowledge your complaint and let you know when you can expect a full response. We will also let you know the name and contact details of the person dealing with your case.
Financial Services Compensation Scheme and the Financial Ombudsman
If you make a valid claim against Cavendish Online in respect of the financial products we have arranged for you, and we are unable to meet our liabilities in full, you may be entitled to redress from the Financial Services Compensation Scheme.
Please be aware that buying protection products without advice will affect your right to recourse via the Financial Ombudsman Service, although this is only in the event of the suitability of a product bought on an execution-only basis. You could still take a claim to the ombudsman about the service that you have received, unclear or misleading information or that you received information equivalent to advice prior to an execution-only sale taking place.
The terms of this agreement are issued to you in compliance with the requirements of our regulatory body, the Financial Conduct Authority. Should any of the aforementioned terms change in any material way, a revised Terms of Business document will be published on our website. Where it is necessary to charge fees, we shall charge you fees. Our current fee scale is £50 per hour plus disbursements. Such fees may be subject to VAT.
Please note that you will not be charged fees unless you have been advised to the contrary in advance of incurring any such fees.
Data Protection Act
Cavendish Online retains all relevant client information on computer files. This information is only disclosed to third parties for the purpose of processing applications. We will also use this information to contact clients by email, post or telephone to bring to the client’s attention any additional products or services that we believe may be of interest to the client. We agree that the client may withdraw this right at any time by contacting Cavendish Online through email or post.
If you have any further queries please contact us.