Terms of Business
TERMS OF BUSINESS – OMAC LIFE & PENSIONS LTD
Effective Date: 24 March 2026
1. INTRODUCTION
These Terms of Business (“Terms”) set out the basis on which OMAC Life & Pensions Ltd t/a OMAC Life (“OMAC Life”, “we”, “us”) will provide financial advisory and intermediary services to you (“the client”). These Terms replace all previous Terms of Business and are issued in accordance with the Consumer Protection Code 2025 (“CPC 2025”).
2. REGULATORY STATUS
These Terms of Business (“Terms”) set out the basis on which OMAC Life & Pensions Ltd t/a OMAC Life (“OMAC Life”, “we”, “us”) will provide financial advisory and intermediary services to you (“the client”). These Terms replace all previous Terms of Business and are issued in accordance with the Consumer Protection Code 2025 (“CPC 2025”).
3. SCOPE OF SERVICES
We provide advice and intermediary services in relation to life assurance, pensions, savings, investment products, insurance-based investment products and deposit products. Advice is provided on a fair analysis basis unless otherwise advised. Where advice is not provided at your request, this will be clearly communicated to you.
4. CLIENT INFORMATION & SUITABILITY
In order to assess suitability, we will seek appropriate information regarding your personal circumstances, financial situation, objectives, risk tolerance and sustainability preferences where applicable. Failure to provide complete or accurate information may limit our ability to provide suitable advice.
5. DISCLOSURE OBLIGATIONS
You must disclose all material information relevant to any application or review. Failure to disclose material information may invalidate cover, result in claims being declined, or policies being rendered void.
6. FEES, REMUNERATION & COMMISSION
Our fees are charged as follows:
- Adviser Fee: €280 per hour
- Support Staff Fee: €150 per hour
Where we receive commission or non-monetary benefits from product providers, full details will be disclosed to you in advance of any transaction. You may choose to pay by fee, commission, or a combination of both as permitted by regulation.
7. CONFLICTS OF INTEREST
OMAC Life maintains a Conflicts of Interest Policy designed to identify, prevent and manage conflicts fairly. Where an unavoidable conflict arises, you will be informed in writing prior to the provision of any service. A copy of our policy is available on request.
8. REGULAR REVIEWS
We recommend that you review your financial arrangements on a regular basis or following a change in circumstances. It is your responsibility to notify us of any changes that may impact suitability. Failure to review arrangements may result in inadequate or unsuitable cover.
9. DEFAULT ON PAYMENTS
We reserve the right to seek recovery of fees, premiums or other payments due. Product providers may withdraw benefits or cover where premiums remain unpaid. You should refer to individual policy terms for details.
10. COMPLAINTS
Complaints may be made verbally or in writing. Our Complaints Procedure outlines how complaints are handled. Where a complaint remains unresolved, you have the right to refer the matter to the Financial Services and Pensions Ombudsman. A copy of our Complaints Procedure is available on request.
11. COMPENSATION SCHEMES
We are members of the Investor Compensation Scheme operated by the Investor Compensation Company DAC and the Brokers Ireland Compensation Fund, subject to their respective rules and limits. Further details are available on request.
12. DATA PROTECTION
Your personal data is processed in accordance with Data Protection legislation and our Privacy Notice, which sets out how your data is collected, used, retained and protected.
13. VULNERABLE CONSUMERS
We are committed to supporting consumers in vulnerable circumstances and providing reasonable assistance in line with CPC 2025 guidance.
14. GOVERNING LAW
These Terms are governed by Irish law and the Irish courts shall have exclusive jurisdiction.