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Fundamental Life and Pensions Limited

Terms Of Business

The terms of business set out below provides the basis on which Fundamental Life and Pensions Limited will provide business services to you as a client of the firm. Should you have any queries we will be happy to clarify them.

  • Fundamental Life and Pensions Limited is regulated by the Central Bank of Ireland as an Insurance Intermediary registered under the European Communities (Insurance Mediation) Regulations, 2005. The Central Bank of Ireland holds registers of regulated firms. You may contact the Central Bank of Ireland on 1890 777777 to verify our credentials. Alternatively, you can visit their website at


  • Fundamental Life and Pensions Limited is subject to and complies with the Consumer Protection Code, the Minimum Competency Code and the Fitness and Probity Standards as laid down by the Central Bank of Ireland. These Codes can be found on the Central Bank’s website at


  • Fundamental Life and Pensions Limited hold a written appointment to act as an agent for the following product producers:-

Aviva Life & Pensions
Irish Life

Royal London
Friends First
Standard Life
Zurich Life
New Ireland Assurance

  • Fundamental Life and Pensions Limited is authorised to advise on any and all of the above mentioned product producers products which includes life assurance policies, serious illness and other protection policies, pension policies and other related retirement policies, savings and investment life assurance policies.


  • Fundamental Life and Pensions Limited is authorised to advise you in relation to the life assurance, pension and investment products described above and to receive and transmit orders on your behalf to the product producers.


  • Fundamental Life and Pensions Limited is a member of Brokers Ireland. As a member of Brokers Ireland we must be in a position to place insurance business with at least five insurers of the relevant type and therefore can generally give consumers greater choice than agents and tied agents.


  • Fundamental Life and Pensions Limited offer advice on a fair analysis basis in relation to all classes of products we are authorised to give advice on. The concept of fair analysis is derived from the Insurance Mediation Directive. It describes the extent of the choice of products and providers offered by an intermediary within a particular category of life assurance, general insurance, mortgages and/or specialist area. The number of contracts and providers must be sufficiently large to enable an intermediary to recommend a product that would be adequate to meet a client’s needs.


  • Fundamental Life and Pensions Limited is remunerated by commission and other payments from product producers on the completion of business. You may choose to pay in full for our services by means of a fee. Where we receive recurring commission, this forms part of remuneration for initial advice provided. We reserve the right to charge additional fees if the number of hours relating to on-going advice / assistance exceeds 18 hours.


  • Fundamental Life and Pensions Limited may, in certain circumstances, also charge you either a management fee or a retainer for the services provided. The fee will be based on the time, the level of expertise, the urgency and the complexity involved. In particular, if we arrange a product for you with a product producer with whom we do not hold an appointment in writing, we will charge you a fee for our services. This fee will reflect the average level of commissions’ payable by other product producers for similar types of products. If we do this we will provide you with a written estimate of this in advance of providing any business service. If we receive commission from a product provider, this will be offset against the fee which we will charge you. Where the commission is greater than the fee due, the commission will be retained by the firm. In accordance with a Revenue Commissioner’s directive and Central Bank of Ireland regulations, surplus commissions cannot be returned to the client. Where the commission payable is less than the fee charged the balance will be payable by the client.

Present hourly rates are set out below. These may change from time to time, subject to notice in writing. Presently there are no VAT implications for fees charged in relation to agency services. This may change in the future.

Senior Consultant €200 per hour

Administration €95 per hour

Additional fees, including any outlay, may be payable for complex cases or to reflect value, specialist skills or urgency. This can range from €200 to €500 per hour. This will be discussed with you beforehand.


  • Fundamental Life and Pensions Limited will if necessary exercise its legal rights to receive any payments due to it from clients for business services provided by the firm. Details of the effect of any default on payments due under any products arranged for your benefit will be included in the product producer’s relevant policy terms and conditions. Any failure to disclose material information may invalidate your claim and render your policy void.


  • It is the policy of Fundamental Life and Pensions Limited to avoid any conflict of interest when providing business services to its clients. However, should an unavoidable conflict arise we will advise you of this in writing before proceeding to provide any business service. If you have not been advised on any such conflict you are entitled to assume that none arises.


  • Fundamental Life and Pensions Limited has a written procedure in place for the effective consideration and handling of complaints. If you have any complaint in relation to the business services provided by us you should outline the nature of your complaint in writing. The complaint will be fully investigated by us and a full response will be provided to you.


  • Fundamental Life and Pensions Limited complies with the Complaint Handling procedures as laid out by the Consumer Protection Code. All complaints are recorded and acknowledged within 5 business days. All complaints will be fully investigated and the outcome of the investigation will be communicated to the person who raised the complaint. In the event that you are still dissatisfied with the firms handling of and response to your complaint, you are entitled to refer the matter to the Financial Services Ombudsman or the Pensions Ombudsman. A full copy of our complaints procedure is available on request.


  • Fundamental Life and Pensions Limited keeps a record of business transactions for at least six years, including personal data defined as sensitive under the Data Protection Acts, 1988 and 2003. The data which you provide to us will be held on a computer database and paper files for the purposes of arranging transactions on your behalf. The data will be processed only in ways compatible with the purposes for which it was given. This information may be passed to a third party strictly for administration and compliance purposes only.We would also like to keep you informed of any insurance, investment and any other services provided by us or associated companies with which we have a formal business arrangement; which we think may be of interest to you. We would like to contact you by way of letter, email or telephone call. If you do not wish to receive such information please advise us when you sign the Terms of Business acknowledgement letter.


  • Fundamental Life and Pensions Limited is a member of the Investor Compensation scheme. This provides payments to clients where a member firm defaults and the main conditions of the operation of the scheme are available on request. Alternatively, you can contact the Investor Compensation Company Ltd on 01 2244955.


  • Fundamental Life and Pensions Limited also holds Professional Indemnity insurance as required under the Insurance Mediation Directive.


  • Fundamental Life and Pensions Limited will not accept payments in cash. All cheques and drafts are to be made payable directly to the relevant financial institution where they are being invested / paid as a premium.


  • Fundamental Life and Pensions Limited will issue a receipt for each payment received for onward transmission on behalf of a client and, also, in relation to fees paid to Fundamental Life and Pensions Limited. This is required pursuant to Section 30 of the Investment Intermediaries Act, 1995. These are issued for your protection in mind and should be stored safely.

These Terms of Business are valid from October 2017 until further notice


Financial Broker Dublin IrelandDirectors J. Lawlor and K. Lawlor. Registered Office 45 Castlefield Park, Clonsilla, Dublin 15.Financial Broker Ireland, Financial planning and advice
Registered In Ireland Number 441671 • Fundamental Life and Pensions Limited Is Regulated By The Central Bank Of Ireland.



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