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Data protection

Valorlife data protection guideline

Data protection is very important to us, and we process your data only based on legal provisions such as the GDPR. In this guideline we inform you about how we process your personal data. We also explain the measures taken to protect your data and to ensure the confidentiality of the data provided to protect your personal privacy.

This data protection policy refers to all data we process from our clients and partners in order to comply with the contractual and legal obligations for the conclusion and administration of life insurance policies. It applies to all website visitors, policyholders, beneficial owners, insured persons, beneficiaries and partners (e.g. brokers, asset managers, custodian banks).

This policy may be updated from time to time. Therefore, we invite you to visit this website regularly to stay updated.

We have implemented the highest standards for the processing and protection of personal data taking into account the provisions of the Liechtenstein Insurance Secrecy Legislation as well as the General Data Protection Regulation. 

Website visitors
We collect a limited amount of data from our website visitors, which we use to help us to improve your experience when using our website and to help us manage the services we provide. This includes information such as how you use our website, the frequency with which you access our website, your browser type, the location you view our website from, the language you choose to view it in and the times that our website is most popular. 

We use cookies in order to present and design our website on your browser or your device in a user-friendly manner. Cookies are saved on your device (smartphone, tablet, notebook etc.) when you visit our website. Therefore your device can be recognized at a subsequent visit of our website. Cookies are used to administer the website, to collect demographic data and to monitor the use and the performance of our website. If you deactivate the cookie function it may be that not all information will be displayed. 

Data processing – partners
In order to meet all legal and contractual requirements we have to process data from our partners.

Apart from the data which are publicly available the data we collect and process include the names and IDs of the legal representatives as well as e-mail addresses, telephone numbers and names of the contact persons of the partner and, as the case may be, the bank account details for the payment of commissions.

These data are not protected by the Liechtenstein Insurance Secrecy. They are not classified as sensitive data, but they are protected within the framework of the GDPR and other appropriate legislation.

In certain cases, the contact data may be provided to the policyholders and, as the case may be, to other partners involved in the administration of a life insurance policy.

Data concerning partners of Valorlife Life Insurance Ltd., Dublin branch are also shared with the headquarters in Liechtenstein.

Data processing – clients
In order to fulfil our contractual and legal obligations in relation to an insurance contract it is necessary to process personal data. This is based on your personal consent. These data may include name, address, telephone number, e-mail address, date and place of birth, gender, nationality, ID, account details, tax residence, tax identification number, personal (family status, family composition), professional and financial situation (profession, employer, annual income, total assets, origin of funds) and any other data collected in connection with the insurance contract. For the life assured this also includes health data.

From the contract conclusion onwards all data collected will be stored until the expiration of the legal retention period.

You have the right to obtain information on your personal data we processes in relation to you, as well as the right to receive these data and to have these data rectified/modified and, if permitted by other legal provisions (like in the Due Diligence Act) to have the data deleted.

All personal data will be deleted 10 years after the termination of the contractual relationship, i.e. 10 years after the final pay-out by us (termination of the contract). This does not refer to data, which must not be deleted due to a legal provision or order, or for which the deletion deadline has been extended due to a legal provision or order.

Personal data may be forwarded to any third parties to the extent it is necessary to accomplish our duties arising from the insurance contract. A “third party” may be the broker, the custodian bank, the asset manager and / or the re-insurer. We will only forward data to these parties, which they need to fulfil their duties under the insurance contract. If the asset manager or the custodian bank is located outside an EEA member state (third country), such personal data will also be forwarded to this party.

Health data will only be forwarded to the reinsurance company in order to assess the insurance application and to determine the conditions for the underwriting; and in case of death to determine the right of the beneficiaries to receive any additional death benefit as stated in the policy documentation. 

Data concerning clients of Valorlife Life Insurance Ltd., Dublin branch are also shared with the headquarters in Liechtenstein.

Data protection measures
Our IT-software contains international security standards such as security software, coding and encryption methods. It is protected against unauthorized access by technical and organizational protective mechanisms. All our employees are familiar with the GDPR and other appropriate legislation and are trained accordingly. 

For any requests, concerns or complaints with regard to the data protection policy of and the processing of your data by Valorlife Lebensversicherungs-AG please contact the Data Protection Officer at the following e-mail address: dataprotection@valorlife.com

Any further complaints concerning the violation of your data protection rights can also be addressed to the data protection authority in your home country or:

In Liechtenstein: to the Datenschutzstelle, Städtle 38, Postfach 684, 9490 Vaduz, Liechtenstein, e-mail address: info.dss@llv.li (also see: www.llv.li/#/1758/datenschutzstelle)

In Ireland: to the Data Protection Commissioner, e-mail address: info@dataprotection.ie (also see: www.dataprotection.ie)
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Data protection