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, Chubb Life, 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. As an example, it would include legal proceedings against me or if I had been discharged from bankruptcy in the last four years.


Identifying Information

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: 0800 283 782 (Option 2)
Email: ruth@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 written 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 25% and 220% of the first year’s premiums of your policy – the amount depends on whether I agree to discount your premiums, which insurance company and which insurance policy you choose. Vesta Cover also receives a commission of between 5% and 20% 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. Health Insurance receives a 15% payment.

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.  

The Major Medical low cost insurance option is not discounted.