Today Victorian man Grant Stewart, 61, gave evidence to the Financial Services Royal Commission about a life insurer pressure-selling insurance to his son, who has a disability.
Mr Stewart told the Royal Commission that:
- He discovered Freedom Insurance had cold-called his son and sold him life insurance when he saw a confirmation letter at their home.
- His son’s disability means that he turns to his parents for assistance with making decisions.
- He spent significant time and energy cancelling the policy, with Freedom Insurance trying to convince him to keep his son’s life insurance.
- His son was distressed and embarrassed by the situation, and that Mr Stewart did not believe his son had understood what he was signing up to.
Mr Stewart is available for comment until 5.00pm Wednesday 12 September.
Consumer Action Law Centre is available for comment.
It is expected the Royal Commission will shortly publish a transcript of the hearing and release Mr Stewart’s witness statement.
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