Pure Protection Products. If you buy a protection product you may elect that we are remunerated by commission. The commission is paid directly by the provider. Although you pay nothing up front that does not mean our service is free. The commission paid to us forms part of a ‘product charge’ which you pay when you purchase the product. Product charges pay for the product provider’s own costs and any commission payable to third parties. You may elect that we arrange for the protection premium to be discounted by the commission that otherwise might have been payable under the policy recommended. In this instance you will need to pay a fee appropriate to cover our advice and work, in accordance with paragraph 13.1 above. The amount of commission we receive will vary depending on the type of policy and (sometimes) the term of the policy or your age, as in the following example: If you were to pay £20 per month towards a £25,000 Critical Illness policy we would receive commission of 3% of the sum assured (£750) and 0.5% of the sum assured (roughly £125 every year).
Pure Protection Products. 12 If you buy a protection product you may elect that we are remunerated by commission. The commission is paid directly by the provider. Although you pay nothing up front that does not mean our service is free. The commission paid to us forms part of a ‘product charge’ which you pay when you purchase the product. Product charges pay for the product provider’s own costs and any commission payable to third parties. You may elect that we arrange for the protection premium to be discounted by the commission that otherwise might have been payable under the policy recommended. In this instance you will need to pay a fee appropriate to cover our advice and work, this fee will be determined by us and will be non-refundable, unless you exercise your right to cancel in accordance with the cancellation notice sent to you by the product provider. The amount of commission we receive will vary depending on the type of policy and (sometimes) the term of the policy or your age, as in the following example: If you were to pay £20 per month towards a Critical Illness policy we would receive commission of 3% of the sum assured. In respect of any regular premium policy which we may recommend, should you subsequently cease to pay premiums on the policy and in consequence we are obliged to refund the commission that has been paid to us, you will be invoiced for the claw back amount if the policy is cancelled during the initial tie- in period (i.e. 24 month or 48 month period depending on the policy). We will not charge the fee if you exercise your right to cancel in accordance with the cancellation notice sent to you by the product provider. 13 In accordance with the regulatory requirements, before providing advice for mortgages and general insurance we will issue a Terms of Business Letter. The document will detail the options for our remuneration by fee, product charges or a combination of both. We may also receive commission or other form of benefit from working with the issuer of a security, a product provider or from another intermediary. We will inform you before the transaction if we are likely to receive such commission or form of benefit from recommending any product to you.
Pure Protection Products. 12 If you buy a protection product you may elect that we are remunerated by commission. The commission is paid directly by the provider. Although you pay nothing up front that does not mean our service is free. The commission paid to us forms part of a ‘product charge’ which you pay when you purchase the product. Product charges pay for the product provider’s own costs and any commission payable to third parties. You may elect that we arrange for the protection premium to be discounted by the commission that otherwise might have been payable under the policy recommended. In this instance you will need to pay a fee appropriate to cover our advice and work. The amount of commission we receive will vary depending on the type of policy and (sometimes) the term of the policy or your age, as in the following example:
Pure Protection Products. If you take out a protection product (any product which insures you against a specified health risk) the commission is paid directly by the provider. Although you pay nothing up front that does not mean our service is free. The commission paid to us forms part of a ‘product charge’ which you pay when you purchase the product. Product charges pay for the product provider’s own costs and any commission payable to third parties. Any protection product you choose to take out will be arranged by Lumin Wealth Limited which is part of the Lumin VZ Group. Client Money
Pure Protection Products. If you buy a protection product you may elect that we are remunerated by commission, fee or a combination of both.
Pure Protection Products. If you buy a protection product our remuneration is by commission. The provider pays us commission directly. Although you might pay us nothing up front that does not mean our service is free. The commission paid to us forms part of a ‘product charge’ that you pay when you purchase the product. Product charges pay for the product provider’s own costs and any commission payable to third parties. You may elect that we arrange for the protection premium to be discounted by the commission that otherwise might have been payable under the policy recommended. In this instance, you will need to pay a fee appropriate to cover our advice and work, in accordance with paragraph 13.1 above. The amount of commission we receive will vary depending on the type or term of policy and your health and age, as in the following example: If you were to pay £20 per month towards a Critical Illness policy we would receive commission of 20 times the monthly premium (£400) and 2.5% of the monthly premium after 4 years (roughly £10 every year).
Pure Protection Products. If you buy a protection product you may elect that we are remunerated by commission. The commission is paid directly by the provider. Although you pay nothing up front that does not mean our service is free. The commission paid to us forms part of a ‘product charge’ which you pay when you purchase the product. Product charges pay for the product provider’s own costs and any commission payable to third parties. If you opt to pay us in this way, you need to be aware that these charges reduce the amount left for your investment
Pure Protection Products. If you implement a protection product you may elect that we are remunerated by commission. The commission is paid directly by the provider. Although you pay nothing up front that does not mean our service is free. The commission paid to us forms part of a ‘product charge’ which you pay when you purchase the product. Product charges pay for the product provider’s own costs and any commission payable to third parties. You may elect that we arrange for the protection premium to be discounted by the commission that otherwise might have been payable under the policy recommended. In this instance you will need to pay a fee appropriate to cover our advice and work, in accordance with paragraph 17.2 above. The amount of commission we receive will vary depending on the type of policy and (sometimes) the term of the policy or your age, as in the following example: Please refer to our separate document “Service Proposition and Engagement”. For your additional security we do not handle client’s money. We never accept a cheque made out to us (unless it is a cheque in settlement of our fees or other charges or disbursements for which we have sent you an invoice). We do not handle cash. Cheques for payment will be required to be paid direct to the insurance provider. We will make arrangements for all your investments/contracts to be registered in your name unless you first instruct us otherwise in writing. You have a right to inspect copies of contract notes and entries in our records in relation to transactions on your behalf. In that request we reserve the right to give you copies of such documents rather than access to the original records. We will forward to you all documents showing ownership of your policies as soon as practicable after we receive them. Where a number of documents relating to a series of transactions is involved, we will normally hold each document until the series is complete and then forward them to you. We subscribe to the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. You will find up-to-date details of the FSCS’s compensation limits, eligibility and details of how to make a claim on its website xxx.xxxx.xxx.xx. As at May 2021, the limits are: Most types of investment business are covered for 100% of the first £85,000. Insurance Business: there is no upper limit on the amount of protecti...
Pure Protection Products. If you buy a protection product you may elect that we are remunerated by commission. The commission is paid directly by the provider. Although you pay nothing up front, that does not mean our service is free. The commission paid to us forms part of a ‘product charge’ which you pay when you purchase the product. Product charges pay for the product provider’s own costs and any commission payable to third parties. You may elect that we arrange for the protection premium to be discounted by the commission that otherwise might have been payable under the policy recommended. In this instance, you will need to pay a fee appropriate to cover our advice and work, in accordance with the scale of fixed fees detailed in section 8a earlier. The amount of commission we receive will vary depending on the type of policy and (sometimes) the term of the policy, or your age, as in the following example: If a 40 year old non-smoker was to pay £52 per month for 25 years towards a Life & Critical Illness policy which had a sum assured of £100,000, we would receive commission of approximately 1.6% of the sum assured (£1,600) over the full term of the policy.
Pure Protection Products. In the event that you purchase a protection or insurance product with no investment component we will be paid by way of a commission payment from the relevant product provider. Any commission paid to us forms part of a “product charge” which you pay when you purchase the product and on an ongoing basis. The amount of commission we are due to receive for sale of a protection product will be dependent upon product type, premium and proposed policy duration. Commission shall however be clearly disclosed before you are invited to apply for cover. As an example, a term life and critical illness assurance policy over a 10 year term would typically generate commission to our firm of £670 based on a monthly premium of £37 per month, earned over the first four years of the term of the Plan, with commission of £0.93 per month payable thereafter to the end of the policy term. We do not handle client’s money. We never accept a cheque made out to us (unless it is a cheque in settlement of our fees or other charges or disbursements for which we have sent you an invoice). We do not handle cash. Cheques for payment will be required to be paid direct to the insurance provider. We will communicate with you in English. We will make arrangements for all your investments/contracts to be registered in your name unless you first instruct us otherwise in writing. You have a right to inspect copies of any records that we hold on file relevant to advice that we have given you. We reserve the right to give you copies of such documents rather than access to the original records. We will forward to you all documents showing ownership of your policies as soon as practicable after we receive them. Where a number of documents relating to a series of transactions is involved, we will normally hold each document until the series is complete and then forward them to you.
