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What is a Target Market Determination?

A Target Market Determination (TMD) describes the key features and attributes of a product that are likely to align to the objectives, financial situation and needs of consumers in the target market. Ultimately, TMDs set out who the financial product may be suitable for and how it can be distributed. 

Importantly, TMDs do not replace Product Disclosure Statements (PDS) and it is not a summary of the product features or terms of the product. You must always refer to the PDS for the terms, conditions and features of the product before deciding whether the product is suitable for you.

Why do we need to have Target Market Determinations?

The purpose of the Design and Distribution Obligations (DDO) regulations is to ensure that issuers and distributors of financial products, such as Resolution Life, have a consumer-centric approach to the design and distribution of products. The DDO regulations require us to make a TMD publicly available for each of our products. 

At Resolution Life, we take our obligations seriously, and TMDs form part of our design and distribution framework for each of our products (where applicable).

Here is some information for distributors only on how you (the distributor) can report complaints and significant dealings, as required under DDO regulations.

Complaints

You must report the total number of product complaints within 10 business days of the end of the reporting period (as specified in the TMD). Please email the information to ddoreporting@resolutionlife.com.au.

Significant dealings

You must report any significant dealing in the product within 10 business days of becoming aware of the dealing. Please email the information to ddoreporting@resolutionlife.com.au. 

Complaint and significant dealing data should include sufficient information for us to understand the substance of the complaint/dealing but should NOT include a customer’s personal information, including their full name and policy number.

What you need to know

Any advice on this website is provided by Resolution Life Australasia Limited ABN 84 079 300 379, AFSL No. 233671 (Resolution Life), and is general advice and does not take into account your objectives, financial situation or needs. Before acting on this advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs, as well as the relevant product disclosure statement and/or policy document, available from Resolution Life at resolutionlife.com.au or by calling 133 731, before making a decision on whether to acquire, or continue to hold, the product. 

The Target Market Determinations (TMDs) for our financial products (where applicable) can be found at Target Market Determinations (TMDs). The TMDs describe the key features and attributes of an applicable product that affect whether it is likely to be consistent with the objectives, financial situation and needs of consumers in the target market.

Resolution Life is part of the Resolution Life Group and can be contacted via contact us or by calling the phone number mentioned above.