This is a joint consumer submission from the Financial Rights Legal Centre, Consumer Action Law Centre, CHOICE, the Public Interest Advocacy Centre, Financial Counselling Australia and Consumer Credit Legal Services (WA). This submission provides comment on on Treasury’s exposure draft legislation and materials re: Limiting avoidance of life insurance contracts – implementing recommendation 1.15 of the Banking, Superannuation and Financial Services Royal Commission. We strongly support the exposure draft and explanatory materials as drafted.
Read full submission [here]
Recommendation 4.6 - Limiting avoidance of life insurance contracts