Nature & Scope of the Advice

I will provide you with financial advice concerning your personal insurance (life, trauma, income and health). I only provide financial advice about life, trauma and income insurance from AIA, Asteron Life, Cigna, Fidelity Life and Partners Life. I only provide financial advice about health insurance from Accuro, AIA, nib, Southern Cross, Partners Life and Unimed.


Reliability History

Neither Vesta Cover Limited nor I have been subject to a reliability event.

A reliability event might materially influence you to decide whether to seek advice from Vesta Cover Limited or me. For example, it would include legal proceedings against me or if I had been discharged from bankruptcy in the last four years.

Identifying Information

Bryan Tucker, Vesta Cover Limited

I am a financial adviser (FSP99884), and I am giving advice on behalf of Vesta Cover Limited, trading as Vesta Cover.

My details are as follows:

Name: Bryan Ernest Tucker
Phone: 0800 283 782 (option 1) 
Email: bryan@vestacover.co.nz
Address: 222 Staithes Drive South, Whitby, Wellington 5024


Fees & Expenses

I will not charge a fee for the financial advice I provide unless you cancel or reduce any new life or health policy I help you implement within two years of its inception.

I may charge a fee for the financial advice I provide if you cancel a new life or health insurance policy within two years of inception. The cost for the financial advice provided to you will be calculated on the following basis: $990 (plus GST) or a portion thereof, depending on the length of time the policy was in force. While I cannot provide you with an estimate of the fee for advice at this time, I will confirm this with you in my statement of advice.

This fee will be payable by you by the 20th of the month after the policy is cancelled.

The Major Medical low cost insurance option is not discounted.

None of these fees apply if you convert an existing cover to a similar or more up-to-date policy with the same insurer.

If I agree to provide you with consultancy advice related to claims advocacy or other matters, I will negotiate my fee with you before giving service.


Conflicts of Interest & Incentives

Vesta Cover receives commissions from the relevant insurance company if you take out new insurance following my advice. The commissions are between 30% and 200% of your policy's first year's premiums – the amount depends on whether I agreed to discount your premiums, which insurance company and which insurance policy you choose. Vesta Cover also receives a commission of between 5% and 15% of the premium for each year the policy remains in force.

Also, for Partners Life policies, Vesta Cover receives a commission of 30% of your policy's first year's premiums, depending on which insurance policy you choose.

If you are only converting an existing policy to a similar or more up-to-date policy with the same insurer, Vesta Cover will only receive an ongoing commission of between 5% & 15%. The 30% to 200% commission payment does not apply.

As a significant shareholder of Vesta Cover, I benefit from these commission payments.

To ensure that I prioritise your interests above my own or Vesta Cover's, I follow an advice process that ensures my recommendations are based on your individual goals and circumstances. I complete annual training about how to manage conflicts of interest. We undertake a compliance audit and a review of our compliance programme annually.