Privacy Policy
This policy applies to Advantage Insurance Inc, companies and subsidiaries, collectively referred to as “Advantage.” By using Advantage’s products or services and providing personal information, individuals consent to the processing of their data as outlined in this policy.
Who We Are
Advantage Insurance Inc. (“Advantage”), through its operating subsidiaries, specializes in providing customized insurance services to high-net-worth individuals and business owners to serve their risk management and financial planning needs. Headquartered in Puerto Rico with office locations in the United States, Bermuda and Cayman Islands, Advantage has two primary lines of business: Life Insurance and Business Insurance. Advantage’s Life Insurance Segment issues life insurance and annuity policies on a private placement basis, and its Business Insurance Segment provides captive insurance management services. Advantage acts as a data controller, managing the use, storage, sharing, modification, and processing of personal data, including engaging third parties for processing activities.
Contact Us
If you have any inquiries about the privacy policy or personal data processing, please leave your information and a short message in the contact tab and someone from our team will get back to you.
What personal information may we hold about you
Advantage may collect personal information including name, address, date of birth, identification numbers, income, employment, tax information, bank details, contact information, and any personal details shared in communications. Sensitive personal information may also be collected, such as racial or ethnic origin, political affiliations, and health information, to comply with legal and policy requirements. Providing sensitive personal information implies consent for its processing, with additional security and confidentiality measures applied.
We may collect information from you in the following ways:
Information provided by you
- Through the website’s contact form.
- Filling in forms and documentation for product and service registration.
- Conversations on the phone or in-person at their offices.
- Contact via email or letter.
- Completing customer surveys.
- Interactions through social media.
- Making a complaint.
Information we collect
- From third parties like attorneys, accountants, tax authorities, government agencies, advisors, custodians, regulatory authorities, fraud prevention agencies, and law enforcement.
- Public directories and sources, including websites.
- Profile and usage data from devices through cookies and internet tracking.
If you choose not to give personal information
- May result in the inability to provide products or services.
- Advantage will collect only necessary information and will clarify the purpose and any optional data collection.
Our purpose for collecting and processing your personal data
- For contract performance: administration, obtaining consents, managing third-party service relationships.
- For legal/regulatory compliance: due diligence, identity verification, anti-money laundering checks, compliance with requests from authorities, audits, fraud prevention, compliance with tax laws and sanctions.
- Pursuing legitimate interests: complying with legal obligations, processing requests, communication about services, invoicing, complaint investigations, managing risks and operations, ensuring policy compliance, protecting against fraud, security monitoring, legal advice, facilitating business transactions, monitoring communications, and protecting IT systems.
Marketing
- Personal information may be used for marketing Advantage’s products and services.
- Information includes what you provide and data from third parties.
- Marketing is based on your consent or legitimate interest.
- You can opt out of marketing messages at any time by contacting us using the contact details above.
- Electronic marketing requires your consent, which can be withdrawn.
- Your preferences may be updated periodically.
- Your data will not be sold to third parties for marketing.
With whom we share your personal information
- Data is shared with third parties under strict contracts ensuring confidentiality.
- Sharing is compliant with data protection laws.
- Consent is generally obtained before sharing sensitive information.
- Data may be shared without consent for legitimate business interests.
- Third parties include service providers, professional advisors, tax authorities, and law enforcement.
- Data may be shared during legal proceedings or corporate restructuring.
- International transfers of data are protected by specific safeguards.
Sending data internationally
- Data is transferred internationally only to follow instructions or legal duties.
- Transfers outside the Cayman Islands or E.U. are protected similarly.
How long do we keep your personal information
- Data is retained while you are a client and up to 7 years afterward.
- Longer retention is possible for legal, regulatory, or technical reasons.
- Data security measures are in place.
Automated Decision-Making
Decisions affecting you are not solely based on automated processing, except in specific regulatory-compliant cases.
Your Rights
Rights include being informed, accessing data, rectification, stopping or restricting processing, stopping direct marketing, and concerning automated decision-making and profiling.
How to Complain
Complaints about data use can be directed to Advantage via our website at Life Insurance & Business Insurance – Advantage Insurance (advantagelife.com).