Terms of Business

Terms of Business – One Quote Financial Brokers Ltd t/a One Quote, 11 James’s Terrace, Malahide, Co Dublin Tel: 01 845 00049 Email: [email protected]

The following terms of business agreement outlines the terms and conditions on which we will provide services to you. It is important that you read this document carefully. If you have any questions about the information outlined, please contact us immediately.

1. Our Status

One Quote Financial Brokers Ltd, trading as One Quote is registered with the Central Bank as an Insurance Intermediary under the European Communities (Insurance Mediation) Regulations, 2005. We are subject to the Central Banks Consumer Protection Code, Minimum Competency Code, and Fitness & Probity Standards, which offer protection to consumers – these codes can be found on the Central Bank’s website: www.centralbank.ie.

2. Our Services

As a regulated financial broker, we arrange financial protection by way of life insurance products for individuals, self-employed trades people and professionals, as well as on behalf of small limited companies and business partnerships. The products which we offer include:


  • Mortgage Protection
  • Life Assurance
  • Specified Serious Illness
  • Income Protection
  • Inheritance Tax Provision
  • Business Protection – (Key Person, Co Directors and Partnership).


  • Pension Plans
  • Pensions Bonds
  • Approved Retirement Funds
  • Investment Bonds

Life Insurance company agencies held at present include:

  • Aviva
  • Friends First
  • Irish Life
  • New Ireland
  • Royal London
  • Zurich Life
3. Fair Analysis

The concept of fair analysis is derived from the Insurance Mediation Directive. It describes the extent of the choice of products and provider offered by an intermediary within a particular category of life assurance, or a specialist area. The number of contracts and providers considered must be sufficiently large to enable an intermediary to recommend a product that would be adequate to meet a client’s needs.

The number of providers that constitutes ‘sufficiently large’ will vary depending on the number of providers operating in the market for a particular product or service and their relative importance in and share of that market. The extent of fair analysis must be such that could be reasonably expected of a professional conducting business, taking into account the accessibility of information and product placement to intermediaries and the cost of the search.

In order to ensure that the number of contracts and provider is sufficiently large to constitute a fair analysis of the market, we will consider the following criteria:

  • The needs of the customer;
  • The number of providers in the market that deal with brokers;
  • The market shares of each of those providers;
  • The number of relevant products available from each provider;
  • The availability of information about the products;
  • The quality of the product and service provided by the provider.
4. Protection Quotations & Free Cover

All quotations are valid for the period of up 60 days but may change due the occurrence of a birthday, prior to start date. Quotations for insurance are indicative only. All quotations are subject to acceptance by the insurer concerned upon receipt of proposal forms and relevant documentation, including full medical disclosure. The offer of the first month free, where applicable is subject to the insurer in question maintaining the free month offer. Where free cover applies, with Royal London and Aviva policies you will be on free cover for the first month from your chosen policy start date. For Zurich Life, the free cover period will extend from chosen start date to the 15th of the following month, so may fall short or possibly extend beyond a full month. Currently Irish Life, Friends First nor New Ireland allow a free cover period.

5. Regular Review

It is in your interests that you review, on a regular basis, the products which we have arranged for you. As your circumstances change, your needs will change. You must advise us of those changes and request a review of the relevant policy so that we can ensure that you are provided with up to date advice and products best suited to your needs. Failure to contact us in relation to changes to your circumstances or failure to request a review may result in you having insufficient insurance cover.

6. Broker Remuneration – Commission & Service Fee Alternatives

One Quote Financial Brokers Limited receives our remuneration by way of commission from the life insurance companies with whom we place protection and investment business on your behalf.

Where we receive recurring commission, this may form part of the standard remuneration for initial advice provided on protection business and for a level of ongoing support on investment business, as agreeable at business outset.

As an alternative to provider commission payments, to further reduce your associated product costs, you may choose to pay in full for our services by means of a fee. Our alternative adviser fee is €250 per hour or for Executive Pension where no ongoing commissions are payable an alternative flat annual fee of up to: €2,000.00 per annum may be agreed.

Where applicable, we also reserve the right to charge additional fees at a €250 hourly rate, if the number of hours relating to on-going advice/assistance exceeds 1hr, in relation to already existing business in a single calendar year.

Reduced Commission Rates
In line with our best value ethos the rate of commissions payable to us is significantly decreased, to reduce the costs you pay to the product provider. These diminished costs include, reduced protection premiums and reduced investment management charges on pensions and lump sum investments.

Investment Audits
Where we are requested to carry out an audit of any existing pension, lump sum investment or ARF investments, this work will include arranging broker authority and gathering full product information, together with recommending and carrying out any alterations to amend risk and reduce ongoing charges as appropriate. Our fee for this audit service is €250.00 per hour and will be invoiced directly and accordingly.

Full Financial Review
A flat fee of €350 is charged if you require an individual detailed financial report produced in conjunction with a full financial review.

7. Non-policy Issue & Cancellation Fee’s

In certain limited circumstances where you the customer decide to proceed with an application, but then choose not to proceed with your policy, cancel your policy within the first year or you are declined, or postponed by the life company due to personal medical issues, a flat once off fee of €150.00 will be chargeable and invoiced for our time.

Full details of any known medical condition must be disclosed on any protection application and such issues may be discussed with a One Quote Financial Adviser in advance of application return, for advice free of charge.

No fee is chargeable for policy cancellation after 12 months from policy start date.

8. Conflicts of Interest

It is the policy of One Quote Financial Brokers Ltd t/a One Quote to avoid a conflict of interest when providing services to clients. Where an unavoidable conflict arises we will advise you of this in writing before providing any business services. If you have not been made aware of any such conflict you may assume that none arises.

9. Default Remedies

Product providers are entitled to withdraw benefit or cover on default of any payments due under any products arranged for your benefit. It is therefore critical to the guaranteed continuance of your insurance that your premium is paid in full. Some insurers may include as a term of the insurance a settlement due date or in some cases a warranty under the terms of which the premium must be paid to them by a certain date. We inform our clients of such requirements and the relevant date in good time to allow the payment terms to be met. Failure to comply with the terms of the warranty may mean that the insurer’s obligation under the policy will be terminated. We will automatically advise you of any payments outstanding on your policy and the consequences of failure to pay premiums. An outline of the action and remedies which the relevant product producers may take in the event of default by a client is included in the product producer’s policy document.

10. Investors Compensation Scheme

One Quote is a member of the Investor Compensation Company Ltd (ICCL) scheme established under the Investor Compensation Act, 1998 (as amended) (the “Act”). A right to compensation will only arise where money or investment instruments held by us on your behalf cannot be returned either for the time being or for the foreseeable future and where you fall within the definition of eligible investor as contained in the Act. In the event that a right to compensation is established, the amount payable is the lesser of 90% of your loss, which is recognised as being eligible for compensation, or €20,000.

11. Confidentiality

We will use your personal information only for the purpose for which you provide it. All such information will be held in accordance with the Data Protection Acts. We will take all reasonable steps to ensure that persons employed by us are aware and comply with such legislation. We would like to be able to contact you by way of telephone, letter or email, in relation to any products which we might consider to be of interest to you. If you do not wish us to provide you with details of possible additional products, please let us know.

12. Complaints Procedure

If you would like to talk to us about how we could improve our service, or if you are unhappy with the service you are receiving, please let us know by telephoning us. We will carefully consider any complaint as soon as we receive it and do all we can to explain the position to you. If we do not answer your complaint to your satisfaction, you may of course take up the matter with the Financial Services Ombudsman or thePensions Ombudsman.

13. Data Protection

One Quote complies with the requirements of the Data Protection Acts, 1988 and 2003. The data which you provide to us will be held on a computer database and or paper files for the purpose of arranging transactions on your behalf. The data will be processed only in ways compatible with the purposes for which it was given.

Client Acknowledgement

Terms of Business

In proceeding to transact business, you have acknowledged that you have been provided with a copy of the Terms of Business of One Financial Brokers Ltd t/a One Quote and confirm that you have read, accept and understand them.

Testimonials Insurers Advantage Blog