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Life Insurance
Code of Practice

What is the Life Insurance Code of Practice?

The Life Insurance Code of Practice (‘the Code’) is the life insurance industry’s commitment to customer service standards and it’s designed to protect you, the customer.

The aim of the Code is to commit insurers to the achievement of high customer service standards and continual improvements within the industry, increasing overall trust and confidence.

The objectives of the Code of Practice are:

  1. to commit insurers to high standards of customer service;
  2. to seek continuous improvement within the life insurance industry;
  3. to communicate with customers in plain language where possible; and
  4. to increase trust and confidence in the life insurance industry.

Why is the Code of Practice important?

A contract of insurance is based on the principle of good faith which requires both the insurer and the customer to act honestly and fairly towards each other, and for the insurer to have regard to the customers’ interests.

The Code of Practice will enhance consumer rights and lift industry standards in order to deliver better customer outcomes.

The key Code promises

  1. Your insurer will be honest, fair, respectful, transparent, timely, and where possible, will use plain language in communications with you.
  2. Your insurer will monitor sales, its staff and authorised representatives to ensure that sales are appropriate.
  3. If it is discovered that an inappropriate sale has occurred, a remedy will be discussed with you, such as a refund or a replacement policy.
  4. Additional support will be provided to you if you have difficulty with the process of buying insurance or making a claim.
  5. When you make a claim, the claim process will be explained to you and you will be kept informed about the progress in making a decision on your claim.
  6. A decision on your claim will be made within the timeframes defined in the Code, and if these timeframes cannot be met, you will have access to a complaints process.
  7. If your claim is denied, the reasons will be explained to you in writing and you will be informed of the next steps if you disagree with the decision.
  8. The use of investigators and surveillance will be restricted, to ensure your legitimate right to privacy.
  9. The independent Code Compliance Committee will monitor compliance with the Code.
  10. If Code breaches are not corrected, sanctions can be imposed on your insurer.

Our commitment to the Code of Practice

Swiss Re, the issuer of ahm life insurance products has adopted the Life Insurance Code of Practice.

View a full version of the Life Insurance Code of Practice.

Things you should know

Any advice provided is general only and does not consider your objectives, financial situation or needs.

You should carefully read the relevant Product Disclosure Statement to ensure the product is right for you. It contains the terms and conditions, exclusions and other important information to help you make an informed decision.

ahm life insurance products are issued by the insurer, Swiss Re Life & Health Australia Limited ABN 74 000 218 306, Australian Financial Services Licence No. (AFSL) 324908, Level 36, Tower Two, International Towers Sydney, 200 Barangaroo Avenue, Sydney NSW 2000.

ahm life insurance products are distributed by Greenstone Financial Services Pty Ltd (GFS) ABN 53 128 692 884, AFSL 343079, 58 Norwest Boulevard, Bella Vista NSW 2153 and promoted by ahm health insurance, a business of Medibank Private ABN 47 080 890 259 Authorised Representative No. 286089, 720 Bourke Street, Docklands VIC 3008.

Medibank Private is an authorised representative of GFS. The Financial Services Guide tells you more about the services provided for ahm life insurance products.

Your personal information will be handled in accordance with our Privacy Collection Notice.

© 2019 ahm health insurance is a business of Medibank Private Limited ABN 47 080 890 259. ‘ahm health insurance’ and ‘ahm’ are references to Medibank Private Ltd trading as ahm health insurance.