Terms of Business

1. About us

mylife.ie is a trading name of SMP Financial Ltd, a limited company incorporated in Ireland (CRO number 123456). We are authorised as an insurance intermediary by the Central Bank of Ireland (reference number C12345). Our registered office is at 55 Ailesbury Rd, Dublin 4, D04 F8C0.

You can contact us at info@mylife.ie or by telephone at 01 662 9133.

2. Regulatory status

SMP Financial Ltd t/a mylife.ie is regulated by the Central Bank of Ireland. You can verify our regulatory status on the Central Bank's registers at registers.centralbank.ie.

We are subject to the Consumer Protection Code, the Minimum Competency Code, and all other applicable regulatory requirements issued by the Central Bank of Ireland.

3. Services we provide

We act as an insurance intermediary providing advice and arranging life insurance products on your behalf, including:

• Mortgage protection insurance
• Level term life insurance
• Serious illness cover
• Income protection insurance
• Pension term assurance

We provide advice based on a fair analysis of the market. We are not tied to any single insurer.

4. Insurers we deal with

We source products from the following life insurance providers authorised to operate in Ireland:

• Irish Life Assurance plc
• Aviva Life & Pensions Ireland DAC
• Royal London Ireland
• New Ireland Assurance Company plc
• Zurich Life Assurance plc
• Friends First Life Assurance Company DAC

5. Quotations

Quotations provided through this service are indicative and based on the information you supply. All quotes are subject to the insurer's full underwriting assessment. The final premium may differ from the indicative quote depending on your health, occupation, and other factors assessed by the insurer.

Quotations are not a guarantee of cover or a contract of insurance.

6. How we are remunerated

We are remunerated by way of commission paid by the insurer on policies arranged through us. Commission rates vary by insurer and product type. Details of the commission payable will be provided in your Statement of Suitability prior to any transaction.

We do not charge fees directly to clients for arranging life insurance. You are entitled to request details of any remuneration we receive in connection with your policy.

7. Your duty of disclosure

You are obliged to disclose all material facts relevant to the insurance you are seeking, both when applying and throughout the life of the policy. A material fact is any information that might influence the insurer's decision to provide cover or the terms on which cover is offered.

Failure to disclose material facts may result in your policy being voided and any claim refused.

8. Conflicts of interest

We maintain a conflicts of interest policy and take all reasonable steps to avoid conflicts of interest. Where a conflict cannot be avoided, we will disclose it to you before providing advice. A copy of our conflicts of interest policy is available on request.

9. Default on payments

Where premiums are paid through us, we will remit them to the insurer promptly. We hold client monies in a separate client premium account. In the event of default in the payment of premiums, cover may lapse. Please ensure premiums are paid on time to maintain your cover in force.

10. Investor compensation

SMP Financial Ltd is a member of the Investor Compensation Company Ltd (ICCL). The ICCL provides compensation to eligible investors in the event of a firm being unable to meet its obligations. The maximum compensation available is 90% of the net loss or €20,000, whichever is lower. Further details are available at investorcompensation.ie.

11. Complaints procedure

If you have a complaint about our service, please contact us in writing at:

Complaints Officer
SMP Financial Ltd t/a mylife.ie
55 Ailesbury Rd
Dublin 4, D04 F8C0
complaints@mylife.ie

We will acknowledge your complaint within 5 business days and aim to resolve it within 40 business days. If you are not satisfied with our response, you may refer the matter to the Financial Services and Pensions Ombudsman (FSPO) at fspo.ie or 01 661 3899.

12. Data protection

We process your personal data in accordance with our Privacy Policy and applicable data protection legislation including the GDPR and the Data Protection Acts 1988–2018.

13. Governing law

These Terms of Business are governed by and construed in accordance with the laws of Ireland. Any disputes arising from these terms shall be subject to the exclusive jurisdiction of the Irish courts.