Protection Advice

Terms and Conditions

Updated July 2026

This document explains the legal terms are between you and Octopus Money, a trading name of Octopus Money Financial Solutions Limited, (Octopus Money/us/we). These terms apply to you when you agree tosign up for support from our regulated financial advisers.

This agreement will remain in place unless ended by you under the cancellation terms described below.

How to contact us

• Telephone: 0203 111 0589
• Email: support@octopusmoney.com
• In writing: Octopus Money, 7th Floor, 33 Holborn, London, EC1N 2HT

How we’ll contact you

If we need to reach out to you we’ll usually email you or give you a call using the details you gave us. We’ll always communicate with you in English.

There may be scenarios where we need to write to you at your home address, so please let us know if any of your contact details change.

Who regulates us

We are authorised & regulated by the Financial Conduct Authority (FCA) under number 763630. You can check this on the FCA’s Register by visiting the FCA’s website at http://www.fca.org.uk/register or by contacting the FCA at 25 the North Colonnade, Canary Wharf, London E14 5HS or call 0800 111 6768.

The service we provide

Our Focussed Protection Advice Services covers:

• Understanding your situation and assessing what type and how much cover you require.
• Researching the market for the most appropriate cover and selecting the best provider for your circumstances.
• Researching the market for the most appropriate cover and selecting the best provider for your circumstances.
• Recommending the right plan(s) for you.
• Helping you with the application process until your plan has started.

Our advice covers Life Cover (term and whole of life), Critical Illness and Income Protection Insurance. When recommending policies for you we choose from the whole of the market. This means:

• Understanding your situation and assessing what type and how much cover you require.

What’s not included:

This service is not intended as a full financial advice service and if you require any other services we will refer you to another part of the group as appropriate. We do not provide advice on business protection or General Insurance, such as car insurance.

Who’s it for:

This service is designed for people who want to review their protection needs (life, critical illness and income protection insurance) and have sufficient disposable income to afford any associated premiums.

It is not suitable for individuals who:

• Are under 18 years of age
• Are not resident and domiciled in the UK for tax purposes
• Do not have sufficient disposable income to afford premiums
• Require advice on the business protection needs
• Require advice on general insurance

What does it cost:

We do not charge an initial for our advice. When you take out a policy we will receive commission from the product provider, any commission will be disclosed to you and included within any premium quoted.

The maximum commission we will receive is capped at £5,000 per policy, where the commission exceeds this amount we will rebate it to you in order to reduce the premiums you pay.

Your responsibilities:

You are responsible for providing accurate information about your financial circumstances. If you do not disclose something it may either result in you receiving inappropriate advice or in the event of making an application it may be that a claim could be declined in the future.

Your right to cancel

With most insurance policies there is a cooling off period (normally 30 days) during which you can cancel and any premiums paid will be refunded. After this period, you may still cancel but you would not receive any refund and your cover would lapse.

If you are taking out a policy to replace any existing cover you should not cancel your existing plan(s) until you have received confirmation that the new cover is in force.

Sending money to providers

For your security, Octopus Money (as your adviser) does not accept or hold your money. We never handle cash or accept a cheque made out to us – unless it’s to cover advice fees we’ve invoiced you for.

Liability

We accept responsibility for any loss you suffer if caused directly by our negligence, fraud or wilful misconduct. This includes any breach of the duties we owe you under the rules and regulations that apply to our agreement. We reserve the right to take no action where we calculate the loss you have suffered in error to be £5 or less.

If we think you are in breach of our agreement but don’t take any action, this doesn’t mean we waive any of our rights.

Categorising you as a retail client

Client category determines the levels of protection afforded to you under the Financial Services and Market Act 2000. We are categorising you in accordance with FCA rules as a Retail Client and the regulatory protection available to you will be the highest available. This agreement is personal to you `and not assignable.

Financial Services Compensation Scheme (FSCS)

We subscribe to the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if we, or any recommended provider cannot meet our/their obligations. This depends on the type of business and the circumstances of the claim. You will find up-to-date details of the FSCS’s compensation limits, eligibility and details of how to make a claim on its website www.fscs.org.uk. As at June 2026 the limits are:

• Insurance: Long term insurance policies are covered for 100% of the claim, with no upper limit.

Anti-money laundering checks

We are required to verify your identity in accordance with the Proceeds of Crime Act 2002 and the Money Laundering Regulations 2007, which we carry out electronically via a third-party service. We reserve the right to approach third parties and to delay any of your applications until adequate verification of identity has been obtained.

Conflicts of interest

We are determined to treat our customers fairly, with honesty and integrity at all times. We may receive reasonable gifts, sample products, free demonstrations or presentations, hospitality or associated promotional materials from product providers whether in relation to the provision of the Octopus Money Services or otherwise, but these are subject to our conflicts policy and are closely managed to ensure customer interests are not adversely affected.

You agree to us using your data

To provide our services, we’ll need to collect information about your personal and financial circumstances. We take your privacy seriously and will only use your personal information relating to you to deliver our services. By using our services and agreeing to these Terms, you accept our practices regarding personal data and how we will treat it.

Full details of what information we collect and how we use it can be found in our Privacy Policy.

Monitoring and collecting feedback

We carry out ongoing monitoring and compliance checking, and will regularly request your feedback to
help us continue to improve our service.

We record telephone and online conversations. You agree that these recordings may be used for training, ongoing monitoring and compliance case checks, as well as for evidential purposes in the event of a dispute relating to the performance of our obligations.

Referring you to third parties

There are some areas of your finances where our team may be unable to support you – for example, where we do not have the regulatory permissions to do so – or where we do not feel that our experiences can support you sufficiently. In these cases we may refer you to a third-party who will be able to help. We will always do our best to find the appropriate support for your needs. However, we cannot accept responsibility for any guidance, advice or recommendations given to you by a third-party – including liability for any loss or damage that arises.

If something goes wrong

Whilst we will always do everything we can to provide you with the best possible service, sometimes we won’t get things quite right the first time. If you need to raise a complaint please contact us as soon as possible. You will receive an initial response within two (2) business days.

• Call us at 0203 111 0589
• Email us at compliance@octopusmoney.com
• Write to us at Octopus Money, 33 Holborn, London, EC1N 2HT

If you have raised a complaint and you are not happy with our response, the Financial Ombudsman Service (FOS) may be able to help. The FOS settles disputes between financial services businesses and their clients. Full details are available at www.financial-ombudsman.org.uk.

About this agreement

This agreement is governed by and shall be construed in accordance with the laws of England. Except for complaints, disputes arising under this agreement shall be subject to the jurisdiction of the English courts to which we and you submit.

The services we provide under this agreement are for you and cannot be transferred to anyone else.

Changes to these terms

We reserve the right to amend this agreement at our discretion by giving you notice in writing. You will always have the right to end your relationship with us if you are not happy with the changes that we have made.