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With the rising cost of living, now more than ever it’s important for customers to understand how inflation adjustments impact their insurance. It’s also timely to remind customers that there are options available within their insurance to help them manage affordability.

Inflation adjustments are a feature on most of our policies and are applied annually to automatically increase the amount insured in line with the Consumer Price Index (CPI) or a fixed percentage (whichever is higher). Customers have the option to opt out of the inflation increase, either for one year or permanently.

We’ve been making some changes to better inform customers about how the inflation adjustment works and give them easier ways to opt out should they wish to. These changes include:

  • improving the inflation adjustment notice which is sent to customers prior to renewal

  • creating a purpose-built educational and opt out experience in My Resolution Life to avoid having to call us, and

  • uplifting educational content on our website, chatbot and other communication channels

These changes will take effect from December 2022. Stay tuned for more updates in the new year.

Read the November 2022 newsletter articles

Important information

Any advice and information on this website is general in nature and is provided by Resolution Life Australasia Limited ABN 84 079 300 379, AFSL No. 233671 (Resolution Life), which is part of the Resolution Life Group. Resolution Life can be contacted on 133 731 or via the contact us page. The advice does not take into account your personal objectives, financial situation or needs. Therefore, before acting on the advice, you should consider the appropriateness of the advice, having regard to those matters as well as the relevant product disclosure statement (PDS) or policy document, available from Resolution Life at resolutionlife.com.au or by calling 133 731, before making a decision about the product. Consider speaking to a financial adviser if you have any concerns.

If you decide to purchase or vary a financial product, Resolution Life and/or other companies within the Resolution Life Group will receive fees and other benefits, which will be a dollar amount or a percentage of either the premium they pay or the value of their investments. You can ask us for more details.