Life Insurance Code of Practice
Our promise to you
To ensure that you receive the highest standard of service when you take out a life insurance product with us, we comply with the Life Insurance Code of Practice (the Code). The Australian Seniors team and the insurer of our products (Hannover Life Re of Australasia Ltd – a subscriber of the code), comply with the Code in all their dealings with you.
What does the Life Insurance Code of Practice cover?
The Code sets out the life insurance industry’s key commitments and obligations. It covers many aspects of your relationship with Australian Seniors and Hannover, from buying insurance to making a claim, to providing options if you experience financial hardship or require additional support.
Key Code promises
- We will be honest, fair, respectful, timely and transparent when we communicate with you, and we will use plain language unless medical or other technical terminology is needed.
- We will monitor sales and retention practices to ensure they are completed appropriately.
- If a sale occurs using unacceptable sales practices, we will fix it.
- Additional support is available if you have difficulty with buying insurance or making a claim.
- When you make a claim, we will explain the process to you and keep you informed on the progress of your claim.
- A decision on your claim will be made within the Code timeframes, and if in circumstances beyond our control we cannot meet these timeframes, we will explain why and you will have access to our complaints process.
- If we deny your claim, we will explain the reasons in writing and let you know the next steps if you disagree with our decision.
- We will restrict the use of investigators and surveillance, to preserve your right to privacy.
- The independent Life Code Compliance Committee will monitor our compliance with the Code.
- If we do not correct the Code breaches, sanctions can be imposed on us.
Getting a copy
General Insurance Code of Practice
Australian Seniors proudly comply with the General Insurance Code of Practice and Hollard (the insurer) is a subscriber. The objectives of this Code are to:
- commit insurers to high standards of service;
- promote better, more informed relations between insurers and customers;
- maintain and promote trust and confidence in the general insurance industry;
- provide fair and effective mechanisms for resolving customer complaints; and
- promote continuous improvement of the general insurance industry through education and training.
The Code Governance Committee (CGC) is the independent body that monitors and enforces our compliance with the Code. It also aims to drive better Code compliance, helping the insurance industry to improve its service to consumers.
You can read or download a copy of the Code from the CGC website.