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Resolution Life is committed to ensuring continuity of key industry standards as it transitions its industry association membership from the Financial Services Council to the Council of Australian Life Insurers. Resolution Life will continuously comply with the Life Insurance Code of Practice and life insurance industry standards in the interests of serving and supporting our customers
When you take out life insurance, it's important that we provide you with the highest standards of service in all your dealings with us.
That's why we've adopted the Life Insurance Code of Practice (Code). It reflects our commitment to high quality customer service and it's designed to protect you, our customer.
The Code sets out the life insurance industry's key commitments and obligations to customers on standards of practice, disclosure and principles of conduct for their life insurance services, such as being open, fair and honest. It also sets out timeframes for insurers to respond to claims, complaints and requests for information.
The Code covers many aspects of your relationship with us, from buying insurance to making a claim, to providing options if you experience financial hardship or require additional support. It’s monitored by an independent committee, to ensure effective compliance by life insurers. Insurers can be sanctioned if they don’t correct breaches of the Code.
The Code also contains minimum standard medical definitions, which apply to trauma insurance policies issued from 1 July 2017. The Code requires insurers to assess cancer, heart attack and stroke claims against both the applicable definition in your policy document, and if different, the applicable minimum standard medical definition.
You can get a copy of the Code on the Financial Services Council website or on the Life Code Compliance Committee website.
Resolution Life Australasia Limited has transitioned to the Code effective Friday 30 June 2017.
You can report an alleged breach of the Code via the Financial Services Council website.
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.
These products are not issued by the AIA Group. The AIA Group has sold to the Resolution Life Group that part of the business that previously provided or administered these products. The Resolution Life Group and its products and services are not affiliated with, or guaranteed by, the AIA Group. The Resolution Life Group uses AIA's trademarks under licence.