This Disclosure Statement has been prepared in accordance with regulation 229C of the Financial Markets Conduct (Regulated Financial Advice Disclosure) Amendment Regulations 2020.
Licensing Information
Personalised Insurances Limited (PIL), FSP1010189, holds a licence issued by the Financial Markets Authority to provide regulated financial advice.
Nature and Scope of Advice
PIL provides tailored advice on life insurance, trauma, disability cover, and medical insurance. Our advisers focus on these product areas and work with selected providers:
Life insurance – AIA, Asteron, Fidelity Life, NIB Life & Living
Disability insurance – AIA, Asteron, Fidelity Life, NIB Life & Living
Medical insurance – AIA, NIB
When preparing advice, we do not collect every line of your expenditure. Instead, we assess affordability by reviewing your overall income, any cash surplus or deficit, and key expenses. We recommend that you review your own spending habits and budget to confirm what you are comfortable committing to.
Fees and Expenses
PIL does not charge fees or additional costs for providing financial advice to clients.
Conflicts of Interest, Commissions and Incentives
PIL and its advisers are remunerated by commission from the insurance providers whose products we recommend. If you take out a policy, the insurer pays a commission to PIL, which is then shared with your adviser. The commission amount is linked to your insurance premium.
From time to time, product providers may also offer advisers additional benefits such as bonuses, prizes, gifts, or incentives. These are entirely at the discretion of the provider. To manage any potential conflict of interest, PIL keeps a register of such benefits.
We are committed to putting our clients’ interests first. Our advisers follow a structured advice process that ensures recommendations are based on your personal goals and circumstances. Each adviser completes annual training on conflict management, and our business undergoes annual compliance audits and reviews by an external compliance specialist.
If any actual or potential conflict arises when giving you advice, we will disclose this clearly so you can assess our recommendations objectively.
Referrals
PIL may refer you to other professional or specialist advisors upon your instruction or if it is not in our scope of service. In most instances there are no financial incentives gained by a PIL advisor, however, should there be any transfer referral fee received this will be disclosed fully based on any such contractual arrangement.
Complaints and Dispute Resolution
At PIL, we take client service seriously and aim to resolve issues promptly and fairly.
If you are unhappy with our service, please let us know as soon as possible:
Phone: 09 3566 999
Once we receive your complaint, we will follow our internal process:
We will acknowledge your concern and explain how we plan to address it.
We may need to contact you for further details.
We aim to resolve most complaints within 10 working days. If more time is required, we will update you within that timeframe.
We will keep you informed by phone or email of the outcome and any resolution we propose.
If we are unable to resolve your complaint, or you are dissatisfied with our response, you may refer your case to the Insurance & Financial Services Ombudsman (IFSO). This is a free, independent service that can help review or resolve your complaint.
Email: info@ifso.nz
Phone: 0800 888 202
Duties Information
PIL and our advisers are bound by duties under the Financial Markets Conduct Act 2013. These include obligations to:
Give priority to your interests and ensure advice is not materially influenced by our own interests
Exercise care, diligence, and skill when providing advice
Meet the competence, knowledge, and skill standards set by the Code of Professional Conduct for Financial Advice Services
Follow the ethical behaviour, conduct, and client care standards in the Code of Professional Conduct for Financial Advice Services
This is a summary of our duties. More information is available by contacting us directly or visiting the Financial Markets Authority website at www.fma.govt.nz.
Your insurance, personalised.
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