Codes of Conduct
Brendan J Kelly Business Consultant / Insurance Broker t/a Planalife is subject to the Consumer Protection Code, Minimum Competency Code and Fitness and Probity standards which offer protection to consumers. These codes can be found on the Central Banks website
Our Services
Brendan J Kelly Business Consultant / Insurance Broker t/a Planalife is a member of the Professional Insurance Brokers Association (PIBA). As a member of PIBA we must be in a position to place insurance with at least 5 insurers of the relevant form (Life/Non Life) and therefore can generally give consumers greater choice than agents or tied agents. Our principal business is to provide advice and arrange transactions on behalf of clients in relation to life & pensions, mortgages and general insurance products. A full list of product producers and lending agencies with which we deal with is available on request.
Brendan J Kelly Business Consultant / Insurance Broker t/a Planalife acts as an independent Broker which means that
Fair Analysis
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 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 providers is sufficiently large to constitute a fair analysis of the market, we will consider the following criteria:
The needs of the customer,
The size of the customer order,
The number of providers in the market that deal with brokers,
The market share 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,
Cost, and any other relevant consideration.
Statement of Charges
We may earn our remuneration on the basis of fee, commission and any other type of remuneration, including an economic benefit of any kind offered or given with the insurance contract. You may choose to pay in full for our services by means of a fee. Where we receive recurring commission, this forms part of the 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 5 hrs.
In certain circumstances, it will be necessary to charge a fee for services provided. These are listed below. In other circumstances where fees are chargeable or where you choose to pay in full for our service by fee, we will notify you in writing in advance and agree the scale of fees to be charged if different from fees outlined below. Where it is not possible to provide the exact amount, we will provide you the method of calculation of the fee.
If we receive commission from a product provider, this may be offset against the fee which we will charge you. Where the commission is greater than the fee due, the commission may become the amount payable to the firm unless an arrangement to the contrary is made.
Personal Retirement Savings Accounts (PRSAs) – Fees
Where advice is requested for PRSAs, the following hourly fees will apply:
Advisor fees:
€50 – €100 per hour
Support staff:
€40 – €50 per hour
Additional fees may be payable for complex cases or to reflect value, specialist skills or urgency. We will notify you in advance of providing you with these services, our scale of fees for such cases range from a minimum of €40 per hour to a maximum of €100 per hour.
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 become the amount payable to the intermediary unless an arrangement to the contrary is made.
Non-Life Remuneration
We may be remunerated by commission from insurers on completion of business. Details of this remuneration are available on request. Where an override commission is received, this will be disclosed to you in general terms. We will inform you of the amount of fee to be charged. Where it is not possible to provide the exact amount, we will provide you the method of calculation of the fee. When arranging finance we may charge an additional percentage of interest on instalments up to a maximum of 2%
- Brokerage fee: (Motor & Home) €25 – €100
- (Commercial combined) up to 20% of premium
- (Liability Insurance) up to 20% of premium
- (Fleet Insurance) up to 15% of premium
- Switch/alteration midterm: €10 – €25
- Claims handling: up to 5% of claim
Life Insurance – Fees
You may elect to deal with us on a fee basis.
Principals/Directors:
€100 – €200 per hour
Senior Advisors:
€100 – €200 per hour
Associates :
€75 – €100 per hour
Support staff:
€40 – €75 per hour
Additional fees may be payable for complex cases or to reflect value, specialist skills or urgency, our scale of fees for such cases range from a minimum of €50 per hour to a maximum of €200 per hour. We will notify you in advance and agree the scale of fees to be charged.
Pensions – Fees
You may elect to deal with us on a fee basis.
Principals/Directors:
€100 – €200 per hour
Senior Advisors:
€100 – €200 per hour
Associates :
€75 – €100 per hour
Support staff:
€40 – €75 per hour
Additional fees may be payable for complex cases or to reflect value, specialist skills or urgency, our scale of fees for such cases range from a minimum of €50 per hour to a maximum of €200 per hour. We will notify you in advance and agree the scale of fees to be charged.
Disclosure of Information
Any failure to disclose material information may invalidate your claim and render your policy void.
Regular Reviews
It is in your best 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 in your circumstances or failure to request a review, may result in you having insufficient insurance cover and/or inappropriate investments.
Conflicts of Interest
It is the policy of our firm to avoid conflicts of interest in providing services to you. However, where an unavoidable conflict of interest arises we will advise you of this in writing before providing you with any service. A full copy of our conflicts of interest policy is available on request.
