Terms and Conditions

1. 1 Any reference in these Terms and Conditions to ‘we’, ‘us’, ‘our’, ‘ours’ and ‘ourselves’, as appropriate, shall mean Pembridge Life Limited (doing business as “We Buy Life Policy”). Similarly, any reference to ‘the Customer’, ‘you’, ‘your’, ‘yours’ and ‘yourself’, as appropriate, shall mean you as a counterparty to our services under this Agreement.

1. 2 Our registered office is 12 Helmet Row, London, United Kingdom, EC1V 3QJ and we are registered in England and Wales with company number 15317829.

1. 3 Some of the words used in these Terms and Conditions are capitalised. These have a special meaning which is set out in clause 26 below.

1. 4 Headings, capitalised letters and highlighted or bolded words and phrases are included for
convenience only and do not affect how this Agreement should be interpreted.

1. 5 If there is anything about these Terms and Conditions that you are unsure about, you can email us at enquiries@webuylifepolicy.com.

2.1 We will not accept you as a Customer until:

2.1.1 we are satisfied that you have met our Eligibility Requirements, as set out in clause 3; and

2.1.2 we have successfully completed the KYC Process.

2.2 Only after we have completed our customer acceptance process and you have received a confirmation from us, shall we be able to offer you our services and enter into a Transaction with you.

3.1 We will perform the KYC Process in order to identify and verify our customers. We have undertaken a risk-based approach to this process, which may require obtaining information from you, including but not limited to, documentary proof of your name, date of birth and address. You agree that we may use additional online electronic verification tools that may request, among other things, further details and documents. If you cannot satisfactorily prove your identity, we may not be able to enter into a Transaction with you.

3.2 To be eligible to enter into a Transaction with us, you must:

3.2.1 have the full power, authority and capacity to enter into a Transaction;

3.2.2 if you are an individual, be at least 18 years old;

3.2.3 have completed the Questionnaire and any other documents we might reasonably require you to complete so that we can fulfil Applicable Requirements;

3.2.4 not be a Restricted Person;

3.2.5 be a UK resident for tax purposes and live in the UK;

3.2.6 hold a personal UK bank account in your name;

3.2.7 not be located, incorporated, otherwise established in, a citizen of, or resident of, a jurisdiction which is not the UK; and

3.2.8 not have been previously rejected from entering into a Transaction with us,
(together, the “Eligibility Requirements”).

3.3 We may amend the Eligibility Requirements at any time in our sole discretion.

4.1 You must apply with a properly completed application and completed Questionnaire on our portal to be able to enter into a Transaction with us.

4.2 By submitting your Questionnaire, you agree that we may, at any time during our relationship with you, use a third party electronic verification company to confirm your identity, the identity of anyone else providing or receiving monies on your behalf and, where required, the identity of other connected parties. Such third party may share the fact that a search was made (and associated information) with other third parties for the purposes of verifying identity and preventing fraud. If you change any of your details (such as your address), we may need to carry out new checks to confirm your identity. We may also need to seek additional information from you to verify your identity. Until your identity has been successfully verified, we may (i) delay your application; and/or (ii) return your application form.

4.3 You must ensure that the information you provide to us is correct. Where information provided is incomplete or incorrect, you will need to provide the correct information for us to accept your application to enter into a Transaction. 

4.4 We may refuse your application or other instructions at our discretion and do not have to give you a reason for doing so.

5.1 Once we receive a copy of the signed and dated Agreement, we will send you a Deed of Assignment (the legal document that transfers the benefit of your Policy to us) with a pre-paid return envelope.

5.2 You must date and sign the Deed of Assignment in hardcopy, using a black or blue pen, and in the physical presence of a witness (excluding video witnessing). The Deed of Assignment cannot be signed on your behalf by an agent or anyone acting under a power of attorney.

5.3 Your witness must fulfil the criteria listed under clause 6.1.11(a) to (d), and follow the instructions contained within the Deed of Assignment (i.e., providing their full name, etc).

5.4 You must send us the dated, signed and witnessed Deed of Assignment using the pre-paid envelope provided as soon as possible.

6.1 Upon entering into a Transaction you agree and confirm that: 

6.1.1 you are the sole and absolute legal owner of the Policy;

6.1.2 the Policy covers the life of only one person (i.e., the Policy is not a joint policy covering two people on one policy);

6.1.3 the Policy has not been put in trust (i.e., the Policy is not in a legal arrangement managed by trustees such as family, friends or a solicitor);

6.1.4 you meet the Eligibility Requirements;

6.1.5 you have not been diagnosed with a Terminal Illness;

6.1.6 you are not Incapacitated;

6.1.7 all premiums on the Policy are, and have at all times been, paid in full and on time, and are paid up to date;

6.1.8 the Policy is valid and in force;

6.1.10 you have included your full name and your signature on a hardcopy version of the Deed of Assignment;

6.1.11 you have signed the Deed of Assignment in the physical presence of your witness (excluding video witnessing) who:

(a) must be no younger than 18 years old;

(b) must not be visually impaired;

(c) is independent; and

(d) is not connected to the Policy or to you (e.g., not a close relation).

6.1.12 you have taken all necessary actions and have all requisite power and authority to enter into and perform the obligations referred to in the Agreement and herein, and these Terms and Conditions and any other document referred to herein constitute, or will when executed constitute, legal, valid and binding obligations on you in accordance with their terms;

6.1.13 you are not restricted from assigning the Policy in favour of us and the performance by you of each of its obligations under these Terms and Conditions will not result in any:

(a) breach of any contract or other agreement to which you are a party or by which you are bound (including without limitation any contract or other agreement with the Insurer in connection with the Policy);

(b) breach or default of any order, judgment, decree or other restriction applicable to you;

(c) violation of breach of any applicable law;

6.1.15 no Encumbrance has been granted to any person or otherwise exists affecting the Policy, and no commitment to create any such Encumbrance has been given, nor has any person claimed any such rights;

6.1.17 you have no knowledge of any third-party claim or fact that might prejudice or affect our rights and benefits in respect of the Policy;

6.1.18 you have no knowledge of any circumstances, or of any action which you have or have not taken, which might lead to a repudiation of the Policy or to any liability under the Policy being avoided by the Insurer in relation to a claim that would otherwise be payable under the Policy, or to the premiums being increased; 

6.1.19 you have taken all steps necessary to assign the Policy in our favour;

6.1.20 you have handed over all original documents relating to the Policy; and 

6.1.21 you have not: 

(a) had a bankruptcy petition presented against you, or been declared bankrupt;

(b) been served with a statutory demand, and is not unable to pay your debts within the meaning of the Insolvency Act 1986;

(c) entered into, or proposed to enter into, any composition or arrangement with, or for, your creditors (including an individual voluntary arrangement); or

(d) been the subject of any other event analogous to the above in any jurisdiction,

(together, the “Confirmations”).

6.2 You confirm to us that each of the Confirmations listed above are true, accurate and not misleading at the date of this Agreement and at the date the Deed of Assignment is entered into.

6.3 Each of the above Confirmations is separate and independent, and unless expressly provided otherwise, is not limited by reference to any other Confirmation or any other provision in this agreement.

6.4 If there are any changes to your application and/or Questionnaire, you must immediately notify us via email at enquiries@webuylifepolicy.com.

7.1 We are not responsible for any delay in paying you the Purchase Price (or any life insurance proceeds pursuant to clause 15.2) resulting from Events Beyond Our Control, or the failure of any other person or party (including you) to perform all necessary steps to enable Completion.

7.2 Subject to clause 16.4, we will pay for the premiums under your Policy from the date we confirm receipt of the signed and dated Agreement.

8.1 We do not provide personalised recommendations, consulting advice or investment advice or tax advice. Any explanation or information we give you as part of our entering into a Transaction or services is not intended, and should not be considered, to be advice.

8.2 You agree that we are not your broker, intermediary, agent or advisor and we have no fiduciary relationship or obligation to you in connection with a Transaction or any services provided to you.

9.1 All communications in relation to these Terms and Conditions will be in English.

9.2 Please send any written correspondence to Pembridge Life Limited, Unit 157239, PO Box 6945, London, W1A 6US. We will rely on any communication which we reasonably believe to have been made by you.

9.3 You must provide us with your permanent residential address to which we shall send all postal correspondence, unless otherwise agreed by us in writing and at our sole discretion. You are responsible for providing us with the correct contact details at all times, including your postal and email address. We will contact you via post or email. Letters will be sent by standard post unless you request registered post (in which case you agree to pay for postage).

9.4 All telephone conversations and other communications you have with us will be recorded and retained in accordance with Applicable Requirements. Any such records of your communications will be sent to you on request.

9.5 We are not responsible for the loss of any documents, or the cost of replacing them, or for any other loss, cost or expense resulting from delay, or failure of delivery of, any communication we send or receive. Provided that we send you correspondence to the email address and/or postal address you have provided, we will not be deemed to have failed in any duty of privacy, nor be liable for any losses, costs or expenses which may arise from a third party intercepting the communications.

10.1 If any payment is made to you by mistake at any time, we reserve the right to reverse any transaction related to, involving or deriving from the error. Without prejudice to the generality of the other terms in these Terms and Conditions, and in the absence of fraud or bad faith, we shall in no circumstances be liable to you for any loss or demand of whatsoever nature you may suffer or incur in connection with any such error howsoever arising, whether direct or indirect, special or consequential, including, but not limited to, loss of profit or loss of opportunity, even if we have been advised of the possibility of the same arising or that the same were reasonably foreseeable.

11.1 Subject to section 11.2, we will only be liable to you for any loss that occurs directly as result of negligence, bad faith, wilful default, fraud or breach of this Agreement and/or Applicable Requirements by us. In no circumstances shall we be liable for consequential loss or special damage. In particular, we will not be liable for:

11.1.1 any losses, costs or charges incurred directly or indirectly from the exercise of our right to place restrictions on you application or take any other action as provided in these Terms and Conditions;

11.1.2 any losses you may suffer as a result of you using or being unable to use our services due to an interruption in communications infrastructure and/or our systems (including maintenance or upgrades we are performing);

11.1.3 any act or omission by us which is in accordance with our agreement with you; 

11.1.4 any act or omission by us which we reasonably believe is necessary for us to comply with Applicable Requirements; or

11.1.5 any Event Beyond Our Control.

11.2 Nothing in this agreement will exclude or limit any duty owed to you under Applicable Requirements or any liability that Applicable Requirements do not allow us to exclude or limit.

12.1 For the purposes of this Clause 12

12.1.1 “Personal Data” means any information relating to an identified or identifiable natural
person.

12.1.2 “Data Subject” means any individual in the United Kingdom or the European Economic Area (“EEA”) whose Personal Data is collected or processed by us in connection with our services.

12.1.3 “Data Protection Legislation” means all applicable data protection and privacy laws in the United Kingdom and the EEA, including the UK General Data Protection Regulation (“UK GDPR”), the Data Protection Act 2018, the Privacy and Electronic Communications Regulations 2003, the EU General Data Protection Regulation (“EU GDPR”), and any successor or replacement legislation.

We take the protection of Personal Data seriously and process Personal Data of Data Subjects strictly in accordance with our privacy notice which is available on our Website at https://webuylifepolicy.com/privacy-notice/ – or upon request by contacting us at data.protection@webuylifepolicy.com.

12.2 By agreeing to these Terms and Conditions, you acknowledge that you have had read our privacy notice, which explains how we collect, use and protect your Personal Data.

13.1 You remain entirely responsible for the management of your tax affairs, including making any applicable returns and payments and complying with any applicable laws and regulations. You are also responsible for ensuring you obtain all applicable information to complete any returns and acknowledge and agree that you shall be responsible for complying with any reporting requirements.

13.2 We may be required to provide to HMRC, or any other relevant tax authority, your details which they may reasonably request. This information may then be transferred to the government of another country in accordance with a relevant agreement.

14.1 These Terms and Conditions are based on our understanding of current legislation and the practices of HMRC and HM Treasury as at the date the Terms and Conditions were written. If HMRC or HM Treasury change or clarify legislation, we will not be liable for any resultant loss howsoever incurred.

14.2 We may change the Terms and Conditions from time to time in whole or in part, by giving you reasonable notice of the change. We will notify you of changes to the Terms and Conditions by sending you the amended Terms and Conditions by post or by email.

14.3 We may from time to time change the terms of these Terms and Conditions for the following reasons:

14.3.1 to make them more favourable to you or to correct mistakes or oversights;

14.3.2 to cover the improvement of the services, the introduction of a new service or the replacement of a service with a new one;

14.3.3 to provide for the introduction of new financial systems, change in technology and products; or

14.3.4 to comply with any Applicable Requirements.

14.4 If we make a change in accordance with the above clause, we shall always give you at least thirty (30) days’ written notice before we make the change, except as required by Applicable Requirements.

15.1 On your death we will continue to rely on these Terms and Conditions.

15.2 If you die within 30 days of executing the Deed of Assignment, then, subject to and only to the extent we actually receive payment from the Insurer under the Policy, we will use reasonably commercial efforts to transfer to your estate 25% of the life insurance proceeds paid to us by the Insurer under the Policy. Such payment shall be made within 3 months after the date on which we receive all insurance proceeds due to us under the Policy.

16.1 You have “cooling-off” or “cancellation” rights as set out below. Cooling-off or cancellation is where you can change your mind and cancel this Agreement. These rights last for a limited period; once this is over, you cannot make changes to this Agreement.

16.2 You can cancel our services within 14 days of our email to you confirming our receipt of the duly signed and dated Purchase Agreement.

16.3 If you want to exercise your right to cancel, you must contact us by emailing enqiries@webuylifepolicy.com.

16.4 You will not be charged any fee for cancelling in accordance with this clause 16, but we will no longer be responsible for paying any premiums under and in accordance with the Policy. You will therefore be responsible for paying any premiums from the date that you request a cancellation.

17.1 We can terminate this Agreement with you at any time by giving you at least 14 days’ notice.

17.2 We can terminate this Agreement with you immediately and without prior notice to you if: 

17.2.1 you seriously and/or persistently fail to meet your obligations under our agreement with you;

17.2.2 the Confirmations you provided under clause 6 are false, inaccurate or misleading; 

17.2.3 you no longer meet the Eligibility Requirements; or

17.2.4 we consider that we are reasonably required to do so due to Applicable Requirements. 

17.3 If we terminate this Agreement, we will be under no obligation to pay the Purchase Price. If we have already paid the Purchase Price, you are required to return the full amount to us within 30 days of notice from us that we have terminated the Agreement.

There may be limited circumstances where your interests may conflict with our interests, or with another customer’s interests. To identify, prevent and manage these conflicts, we have in place a number of internal policies and arrangements. These are set out in detail in our Conflicts of Interest Policy, a summary of which is available on our Website.

You should contact us immediately if you are dissatisfied with any aspect of our services. Please email enquiries@webuylifepolicy.com or write to our Head of Operations at: Pembridge Life Limited, 12 Helmet Row, London, United Kingdom, EC1V 3QJ.

20.1 We will not be liable for any failure to perform, or delay in performance of, any of our obligations under these Terms and Conditions that is caused by an Event Beyond Our Control.

20.2 If an Event Beyond Our Control takes place that affects the performance of our obligations under these Terms and Conditions we will notify you as soon as we can, and our obligations under these Terms and Conditions will be suspended and the time for performance of our obligations under these Terms and Conditions.

21.1 By signing the Deed of Assignment, you must notify us promptly of any changes to the information you have provided to us.

21.2 Nothing in these Terms and Conditions (or any of the arrangements contemplated herein) shall be deemed to create a partnership between you and us.

All copyrights, trademarks, patents, domain names and other intellectual property rights in connection to our Website, services, and the information contained within are owned or licensed by us or by third party content providers.

A person who is not a party to the agreement between us cannot benefit from or enforce any of its terms under the Contracts (Right of Third Parties) Act 1999.

24.1 We will always aim to act reasonably and treat you and all our customers fairly.

24.2 These Terms and Conditions will apply to our services, unless they are held by a relevant court to be unfair contract terms.

24.3 If a term is unfair it will still apply as far as possible. Any part deemed unfair will not apply. 

If any court or relevant authority finds any part of the agreement between us to be invalid or unenforceable, the remaining parts of the agreement between us will remain in full force and effect.