The life insurance industry has developed the Life Insurance Code of Practice (The Code). It has been voluntarily developed and covers a customer’s relationship with their insurer, from the time of buying insurance to making a claim. The Code comes into operation from 1 July 2017. The Code also sets out standards relating to:
Buying insurance and renewal of cover
Training of life insurance representatives
How insurers interact with any third party suppliers
How to contact your insurer if you have special needs
Minimum medical definitions for trauma cover and
Claims handling and response times.
To find out more about The Code, please call us on 1300 553 764, speak to your financial adviser or visit www.fsc.org.au. Additional information will be available prior to 1 July 2017.