Nature & Scope of the Advice
I will provide you with financial advice in relation to your personal insurances (life and health). I only provide financial advice about life 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.
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. As an example, it would include legal proceedings against me or if I had been discharged from bankruptcy in the last four years.
Ruth Tucker, Vesta Cover Limited
I am a financial adviser (FSP775237), and I am giving advice on behalf of Vesta Cover Limited, trading as Vesta Cover.
My details are as follows:
Name: Ruth Helen Tucker
Phone: 021 0203 8979
Address: 237 Kilkenny Drive, East Tamaki Heights, Manukau 2016
Fees & Expenses
I will not charge a fee for the financial advice I will provide you unless you cancel or reduce any 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 life or health insurance policy within two years of inception. The fee charged for the financial advice provided to you will be calculated on the following basis: $990 (plus GST) or a portion thereof, depending upon 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.
Conflicts of Interest & Incentives
Vesta Cover receives commissions from the relevant insurance company if you take out insurance following my advice. The commissions are between 30% and 200% of the first year’s premiums of your policy – the amount depends on whether I 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 the first year’s premiums of your policy, depending upon which insurance policy you choose.
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 made 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.