News

Consumer Action is a signatory to the Joint Consumer Submission to the Life Code Independent Review.

This submission builds a case that the current Life Code – and the ‘promises’ life insurers make to its consumers within – has fallen behind community expectations and is in fact actively contributing to the problems they face whether it is:

• the overly broad get-out-of-gaol card “circumstances beyond our control,”
• the lack of practical limits on medical examinations and document requests that contribute to delays, frustration, anxiety and stress,
• the inconsistent, ambiguous and confusing application of protections to those obtaining life insurance directly or from group policy owner, or
• the limited support measures to assist First Nations people.

The Life Code has added to the problems faced by those who deal with the life insurance sector. Even where there are clear rules – such as those regarding blanket exclusions for mental health, life insurers flout these seemingly at will.

This Life Code review is therefore an opportunity to take stock and for life insurers to lift their game.

Read the full submission (PDF).