Life Insurance Policyholder Protections in Australia — Exploring the Regulatory Framework and What It Means in Practice

Written by Christopher Hall, AdvDipFP | Authorised Representative, AFSL 526688 | Last updated: 13 March 2026

Under the Life Insurance Code of Practice (Council of Australian Life Insurers, 2021) and the Insurance Contracts Act 1984 (Cth), Australian life insurance policyholders have access to five key regulatory protections: (1) the right to seek a written explanation for any premium increase, as required under the Life Insurance Code of Practice (CALI, 2021); (2) the right to lodge a binding complaint with the Australian Financial Complaints Authority (AFCA) at no cost, under the framework established by the Australian Financial Complaints Authority Act 2018 and ASIC Regulatory Guide 267; (3) the right to cancel cover and receive a pro-rata refund for unused premium, subject to individual policy terms; (4) the right to challenge a denied claim through AFCA's independent external dispute resolution process; and (5) protections against full policy avoidance after three years except in cases of deliberate fraud, under ss28–29 of the Insurance Contracts Act 1984 (Cth). The specific application of each protection depends on individual policy terms, insurer, and circumstances. This article explores each protection in a general educational context only.Sources: Life Insurance Code of Practice (CALI, 2021); Australian Financial Complaints Authority Act 2018; ASIC Regulatory Guide 267; Insurance Contracts Act 1984 (Cth) ss 28–29.

Most Australians receive a premium increase notice and assume the insurer's decision is final. It is not. Most policyholders accept a denied claim at face value, unaware that a free, independent authority exists to challenge it. Most families hold policies for a decade or longer without discovering the benefits, discounts, and protections written into the very contract they are paying for.

This article explores the regulatory protections available to Australian life insurance policyholders — and what those protections mean in practice. It is written from the perspective of an adviser who has conducted more than 500 life insurance policy reviews under AFSL 526688, not as a legal summary of legislation. It is part of Arrow Equities' regulatory framework series. For the full industry context, see the Australian Life Insurance Industry News hub.

Based on those 500+ reviews, the pattern is consistent: policyholders who understand the framework act differently — and better — than those who do not. They negotiate. They complain. They request reviews. They recover money. The protections covered here apply whether a policy was taken out directly with an insurer, through a financial adviser, or inside a superannuation fund.

The State of Australian Life Insurance: What the Data Shows

Before examining specific protections, the following regulatory data illustrates the scale of the environment in which they operate.

Metric	Figure
AFCA life insurance complaints closed 2024–25	2,441
Year-on-year complaints increase	+73%
Denial of claim complaints increase	+40%
TPD complaints increase	+43%
Total compensation recovered through AFCA 2022–23	$253.8 million
Life insurance claims paid rate (APRA, 2022)	95% of finalised claims
Advisers specialising in life risk insurance (of ~16,000 registered)	7% — approx. 1,120

Sources: AFCA Annual Review 2024–25; APRA Life Insurance Claims and Disputes Statistics 2022; Adviser Ratings 2023 Life Insurance Study.

The Regulatory Framework: Who Protects Australian Policyholders and How

Australian life insurance policyholders are protected by a layered framework comprising legislation, regulatory bodies, and an industry code of practice.

ASIC — The Conduct Regulator

The Australian Securities and Investments Commission (ASIC) licenses and regulates all life insurance companies operating in Australia. ASIC enforces compliance with financial services laws and takes action against misleading or deceptive conduct. ASIC does not act for individual policyholders — its enforcement actions are taken where they produce broader market impact. For individual disputes, ASIC directs policyholders to AFCA.

APRA — The Prudential Regulator

The Australian Prudential Regulation Authority (APRA) oversees the financial soundness of life insurers — ensuring they hold sufficient capital to pay claims. According to APRA's Life Insurance Claims and Disputes Statistics (2022), 95% of finalised life insurance claims were paid by Australian life insurers — a figure that is rarely communicated to policyholders who hold concerns about whether claims will actually be honoured. Separately, ASIC and APRA launched a joint review in December 2022 following concerns that premium increases were not being applied in accordance with policy terms. That review remained active as recently as June 2025, with both regulators requiring insurers to demonstrate that their products deliver a reasonable degree of premium stability over the lifetime of a policy.

AFCA — The Free Independent Complaints Authority

The Australian Financial Complaints Authority (AFCA) is the most important resource available to a policyholder in dispute with their insurer. AFCA is free, independent, and its decisions are binding on financial firms. In 2024–25, AFCA closed 2,441 life insurance complaints — a 73 per cent increase on the prior year. Denial of claim complaints rose 40 per cent. TPD complaints rose 43 per cent. In 2022–23, Australian consumers recovered $253.8 million in compensation and refunds across all AFCA product categories. The complaints authority exists, it works, and the majority of policyholders are unaware of it.

The Life Insurance Code of Practice

The Life Insurance Code of Practice is owned by the Council of Australian Life Insurers and independently monitored by the Life Code Compliance Committee (Life CCC), administered by AFCA. All major Australian life insurers are required to comply. It sets binding standards for communication, claims handling, and complaints management — including specific timeframes for claim decisions. The Life CCC can sanction insurers who fail to take corrective action after identified breaches.

The Insurance Contracts Act 1984

The Insurance Contracts Act 1984 (Cth) governs all insurance contracts in Australia. A significant reform from 5 October 2021 replaced the broad duty of disclosure for consumer insurance contracts with a narrower duty to take reasonable care not to make a misrepresentation — a materially stronger protection for policyholders, particularly regarding pre-existing conditions not specifically asked about at application.

Protections When a Premium Increases

Premium increases are the most common trigger for policyholders to seek a review. Based on 500+ policy reviews at Arrow Equities, clients across the review base have experienced premium increases exceeding 100% over two to three years on policies held without review — most acutely on income protection policies written before the 2021 APRA reforms, which have been the most aggressively repriced category in the market. (C. Hall, Arrow Equities, 500+ policy reviews)

Two Types of Increase: Understanding the Difference

There are two fundamentally different types of premium increases, and they carry very different implications.

The first is the stepped premium increase — built into the product by design, rising with age. This is to be expected and is disclosed in the Product Disclosure Statement. It becomes most acute after age 47, and by the early 50s, income protection and TPD premiums in particular can reach a level that represents a significant household budget pressure.

The second is an out-of-cycle insurer re-rating — a commercial restructuring of the price matrix for the entire product, affecting thousands of policyholders simultaneously. This has nothing to do with the individual policyholder's age or health. It is the increase that catches people off guard — and rightly so.

"In our reviews, stepped premiums are expected. What catches people off guard is when an insurer restructures the price matrix of the product itself. This out-of-cycle re-rating has nothing to do with the client's age or health. It becomes most acute after age 47, and by 52 or 53, income protection and TPD premiums can reach a level that feels unmanageable. The levers available depend entirely on the individual policy, the insurer, and the client's circumstances — which is precisely why a review produces outcomes that no comparison website can replicate."— Christopher Hall, AdvDipFP, Arrow Equities AFSL 526688 (C. Hall, Arrow Equities, 500+ policy reviews)

The Right to an Explanation

Under the Life Insurance Code of Practice (CALI, 2021), insurers are required to provide clear reasons for premium changes. The ASIC/APRA joint review requires insurers to demonstrate that increases have been applied in accordance with policy terms — providing grounds to formally request an explanation where an increase appears inconsistent with the original policy contract. Where a premium increase appears inconsistent with the terms of a policy, a written explanation can be requested directly from the insurer.

The Right to Cancel Without Penalty

Policyholders are not locked in. Where an annual premium has been paid in advance, a pro-rata refund is generally available for the unused portion of the cover period, subject to individual policy terms. This means a policy can be reviewed, restructured, or switched without necessarily forfeiting premiums already paid. For more on how this works in practice, see The Refund as a Process Enabler.

The Most Costly Mistake — What the Reviews Show

Based on 500+ policy reviews at Arrow Equities, the combined annual financial cost of holding the wrong policy structure — combining a loyalty tax situation with an incorrect ownership structure — ranges from a minimum of $500 per year to $3,000 in typical cases, with severe cases (particularly pre-2021 income protection) reaching $7,000 to $10,000 per year in recoverable costs. This is real, recoverable money — but the window to recover it requires acting before a health event or occupational change closes the underwriting door. (C. Hall, Arrow Equities, 500+ policy reviews)

De-identified case on file: A client presented for review holding what they believed was $500,000 TPD cover inside superannuation. At review, the actual default cover was $36,000 — 7% of the assumed amount. The underwriting window for new cover had partially closed due to a health change since the policy was originally taken out. (De-identified client case, C. Hall, Arrow Equities, 2024. Identifying details removed. Used with consent.)

"The most costly mistake we see is the knee-jerk cancellation — particularly when clients cancel all of their policies at once without understanding which one is driving the increase. Some of those policies cannot be recovered. Due to changes in health or occupation since the policy was first taken out, clients can find themselves uninsurable, or unable to get cover that meets their needs. We have had clients contact us after they have cancelled, asking us to help them get it back. By that point, the options are significantly narrowed."— Christopher Hall, AdvDipFP, Arrow Equities AFSL 526688

For a structured overview of options available before cancelling, see Should I Cancel My Expensive Life Insurance? and 5 Ways to Reduce Life Insurance Premiums Without Cancelling Cover.

Protections When a Claim Is Made or Denied

Claims are where protections matter most. According to APRA's Life Insurance Claims and Disputes Statistics (2022), 95% of finalised Australian life insurance claims are paid — but this aggregate figure does not reflect the significant variation in claims and dispute outcomes across individual insurers.

Insurer dispute context (APRA data): APRA's Life Insurance Claims and Disputes Statistics record materially different dispute rates across insurers. In the data period reviewed, NobleOak recorded approximately 17 income protection disputes per 100,000 policies in force, while Resolution Life recorded approximately 1,111 — a substantially higher figure. (APRA Life Insurance Claims and Disputes Statistics, 2024–25)It is important to understand these figures in context. There are many extenuating circumstances that can influence insurer dispute statistics. Resolution Life, formerly known as AMP Life, was among the insurers subject to the most intense public and regulatory scrutiny during the Financial Services Royal Commission (2018–2019). During and following that period, numerous major media outlets publicly and consistently encouraged AMP clients to lodge complaints with AFCA and other regulators. This sustained media and public environment likely contributed to elevated dispute volumes recorded in the APRA data. The statistics are a regulator-sourced data point — and understanding the broader context of the Financial Services Royal Commission and the subsequent public review of AMP's practices is important when interpreting comparative dispute figures across insurers.

Claim Decision Timeframes Under the Life Insurance Code of Practice

The Life Insurance Code of Practice sets binding timeframes for claim decisions:

• Income protection claims: a decision must be made within two months of receiving all required information, or a written explanation of the delay must be provided with an estimated decision date.

• TPD, trauma and life insurance claims: the equivalent timeframe is six months.

Where these obligations are not met, a formal complaint can be lodged immediately with the insurer, and — if unresolved — with AFCA.

How to Make a Complaint to AFCA: A General Process Overview

According to AFCA's published guidance on making an insurance complaint, the general process for challenging a denied or delayed claim through AFCA is as follows. Note that individual circumstances vary and you should seek personalised advice before taking formal action in a dispute.

Step 1 — Internal dispute resolution: The insurer is contacted in writing with a formal request for an internal review of the decision. Under the Life Insurance Code of Practice, the insurer must respond within 30 days.

Step 2 — Lodge with AFCA: If the insurer's response is unsatisfactory or not received within 30 days, a complaint can be lodged directly at afca.org.au. The service is free. AFCA contacts the insurer and manages the assessment process independently. As AFCA describes its role: the organisation provides fair, free and independent dispute resolution for financial complaints. (AFCA, About AFCA, afca.org.au)

Step 3 — AFCA determination: AFCA issues a determination which is binding on the insurer if the complainant accepts it. AFCA can require the insurer to pay a denied claim, reverse a decision, and award additional compensation. The complainant retains the right to pursue legal action if AFCA's determination is not accepted.

In 2022–23, Australian consumers recovered $253.8 million through AFCA across all financial product categories. (AFCA Annual Review 2022–23)

Protections Relating to Non-Disclosure After Three Years

Under ss28–29 of the Insurance Contracts Act 1984 (Cth), after three years an insurer generally cannot void a policy in full for non-disclosure unless it can establish that the non-disclosure was deliberate fraud. Innocent omissions — information the policyholder genuinely did not know was relevant, or that the insurer failed to specifically ask about — are protected from full policy avoidance after this period. Additionally, where an insurer includes an ambiguous question and the policyholder provides an incomplete answer without being followed up, the insurer may be deemed to have waived compliance with the disclosure obligation on that matter.

There are many more nuanced components to how the non-disclosure provisions of the Insurance Contracts Act operate in practice — including partial remedies available to insurers short of full policy avoidance, and questions about what constitutes reasonable care in specific circumstances. It is worth seeking personalised legal and financial advice before relying on these protections in any specific situation.

For more on how disclosure obligations work in practice, see Pre-Existing Conditions and Life Insurance.

Group Policies vs Retail Policies: Why the Difference Matters at Claim Time

Group policies — default insurance inside superannuation — underwrite at claim time. This means the insurer assesses pre-existing conditions when a claim is lodged, which may be fifteen or twenty years after the policy commenced. Medical records from that far back are often difficult or impossible to obtain. Retail adviser-backed policies underwrite at application — exclusions and loadings are documented upfront, with no surprises at claim time.

This distinction has material consequences. Based on 500+ reviews at Arrow Equities, approximately 1 in 3 clients presenting with default superannuation TPD cover only hold between 10 and 15 per cent of the cover they assumed — often as a result of the 2019–20 Protecting Your Super and Putting Members' Interests First legislation, which Rice Warner documented produced a 29% fall in group TPD cover in superannuation. (Rice Warner, Underinsurance in Australia, 2020; C. Hall, Arrow Equities, 500+ policy reviews)

"One of the clearest illustrations of the retail versus group difference: a client held both a retail policy arranged through us, and a default group policy inside superannuation. When her husband passed away, the retail policy paid promptly and without complication. The group policy was still being disputed more than 13 months later. The insurer created successive hurdles — additional documentation requirements, certifications, evidence requests. At one point, after learning the retail policy had already paid, the group insurer required written proof of that payment as a new condition of their own assessment. It is the kind of experience that a surviving spouse navigating grief alone, without an adviser, is ill-equipped to manage."— Christopher Hall, AdvDipFP, Arrow Equities AFSL 526688

For policyholders whose adviser has left the industry, see Your Insurance Adviser Left the Industry: What Happens to Your Policy Now? For real review outcomes including claims cases, see the Arrow Equities case studies page.

Embedded Benefits Most Policyholders Never Discover

Beyond the formal regulatory protections, most policies contain embedded benefits policyholders are entitled to — but rarely know about. The most common hidden problem identified across 500+ Arrow Equities reviews is duplicate cover: policyholders unknowingly paying for the same risk twice across a default superannuation policy and a personal policy outside super — simultaneously over-paying on one risk and holding genuine gaps in another. (C. Hall, Arrow Equities, 500+ policy reviews)

The Smoking Cessation Discount

Policyholders who cease smoking and remain smoke-free for the insurer's required period may apply to have their smoking loading removed. In some policies, this reduces the total premium by up to 50 per cent. The right exists in the contract. The insurer will not notify the policyholder proactively. It must be identified at review and requested in writing.

BMI and Health-Based Premium Reductions

Where a premium loading was applied at application due to a BMI result above the insurer's threshold, a sustained weight reduction over the insurer's specified period may result in removal of that loading. Again, the insurer will not raise this proactively — it must be identified at review and requested in writing.

Ownership Restructuring and Premium Reduction

Restructuring the ownership of a policy — for example, moving life or TPD cover to be funded through superannuation — may preserve personal cash flow while maintaining equivalent cover. Policyholders may also find that income protection premiums held outside superannuation, depending on individual circumstances, may allow premiums to be claimed as a personal tax deduction. A qualified financial adviser or accountant should be consulted before making any changes to policy ownership structure, as the tax treatment of premiums varies by individual circumstance and is not universally applicable.

Health Programmes and Loyalty Discounts

Depending on the insurer and policy, premium discounts may be available through health declarations, step-count programmes, regular medical check-ups, or criteria relating to occupation, qualifications, or income structure. These incentives are embedded in the contract terms — they are not advertised to existing policyholders.

Free Access to Medical Specialists

Two insurers currently on Arrow Equities' panel provide policyholders and their immediate families with complimentary access to specialist medical consultations — oncologists, cardiologists, orthopaedic surgeons — at no additional cost to the policy. In some cases, these specialists can be accessed within two to three business days. For an Australian family facing a serious diagnosis and a six-month wait for a public specialist, this benefit alone can be of significant value. It comes at no additional cost. Most policyholders are unaware it exists.

"The levers available to reduce a premium or improve a policy's value are almost entirely dependent on the individual contract, the insurer, the client's occupation, their health history, and how their circumstances have changed since taking out cover. There is no universal answer. That is why a review conducted by an adviser who understands both the contract terms and the client's situation produces outcomes a direct comparison website cannot replicate."— Christopher Hall, AdvDipFP, Arrow Equities AFSL 526688

For more on comparing policies beyond premium, see How to Compare Insurance Policies: Beyond Price.

When to Explore These Protections and How to Start

The protections described in this article are available to all Australian life insurance policyholders. The practical ability to identify which protections apply, navigate a claims or complaints process, and assess whether switching, staying, or restructuring is appropriate — that is where professional advice makes a measurable difference.

Of Australia's approximately 16,000 registered financial advisers, only 7 per cent focus primarily on life risk insurance — approximately 1,120 advisers nationally. (Adviser Ratings, 2023 Life Insurance Study) The scarcity of specialist life risk advisers is one reason so many policyholders navigate renewal notices, claim disputes, and policy restructuring decisions without expert support.

Circumstances in Which a Professional Review May Be Warranted

You should seek a professional review when any of the following apply:

• Receipt of a premium increase notice — particularly one that appears out of cycle or materially larger than expected

• A claim has been delayed beyond two months (income protection) or six months (TPD, trauma, life) without a written explanation from the insurer

• A claim has been denied and a clear written reason has not been provided

• An adviser has left the industry and the policy is effectively unmanaged

• Circumstances have materially changed since the policy was taken out — mortgage reduced, family grown, occupation changed, or health improved

• A policy is more than five years old and has never been formally reviewed

• Both a default superannuation policy and a personal policy are held and have never been assessed together for duplicate cover or gaps

Book a No-Obligation Policy Review

Christopher Hall, AdvDipFP, holds an Authorised Representative authorisation under AFSL 526688 and has completed more than 500 life insurance policy reviews for Australian families. Reviews are conducted at no upfront cost. Any fee or commission arrangement is fully disclosed in writing before any recommendation is implemented.

To book a review, visit the Arrow Equities booking page, or browse real review outcomes on the Arrow Equities case studies page.

Frequently Asked Questions

What can be done if a life insurer denies a claim?

Under the Life Insurance Code of Practice, the insurer must be contacted in writing with a formal request for an internal review. The insurer is required to respond within 30 days. If the response is unsatisfactory, a complaint can be lodged with AFCA at afca.org.au. AFCA is free, independent, and its determinations are binding on the insurer. AFCA can require the insurer to pay the claim and award additional compensation. In 2024–25, AFCA closed 2,441 life insurance complaints, a 73% increase on the prior year. (AFCA Annual Review 2024–25) You should seek personalised legal or financial advice when navigating a formal claim dispute.

Is AFCA free to use?

Yes. According to AFCA's published guidance, AFCA is entirely free for consumers and small businesses. There is no cost to lodge a complaint, regardless of the outcome. Any determination AFCA makes against a financial firm is binding on that firm if accepted by the complainant. The complainant retains the right to pursue legal action if AFCA's determination is not accepted.

How long does a life insurer have to assess a TPD claim?

Under the Life Insurance Code of Practice, an insurer must make a decision on a TPD claim within six months of receiving all required information. For income protection claims, the equivalent timeframe is two months. Where the insurer cannot meet these timeframes, it must write to the claimant explaining the delay and providing an estimated decision date. Failure to meet these obligations triggers formal complaint rights with the insurer and, if unresolved, with AFCA.

Can an insurer cancel a policy for non-disclosure?

Under ss28–29 of the Insurance Contracts Act 1984 (Cth), after three years an insurer generally cannot void a policy in full for non-disclosure unless it establishes deliberate fraud. Innocent omissions are protected from full policy avoidance after this period. Additionally, from 5 October 2021, Australian consumer insurance contracts are governed by a duty to take reasonable care not to make a misrepresentation — a materially stronger protection than the previous broad duty of disclosure. Note that there are many more nuanced elements to these provisions, including partial remedies that may remain available to the insurer, and you should seek personalised legal advice before relying on this protection in a specific dispute.

What is the difference between a retail life insurance policy and a group policy inside superannuation?

The critical difference is when underwriting occurs. Retail policies underwrite at application — exclusions and loadings are documented upfront, and policyholders know from day one what is and is not covered. Group superannuation policies underwrite at claim time — the insurer assesses pre-existing conditions when a claim is lodged, which may be fifteen or twenty years after the policy commenced. This is a fundamental structural difference that most default superannuation policyholders are unaware of. You should seek personalised advice to understand how this distinction applies to your specific policy.

How is a complaint lodged with AFCA about a life insurer?

According to AFCA's published complaints guidance, the general process involves three steps. Step 1: contact the insurer in writing, request an internal review, and request a written response (required within 30 days under the Code). Step 2: if unresolved, lodge a complaint directly at afca.org.au — the process is online and free, with no legal representation required. Step 3: AFCA issues a determination which is binding on the insurer if accepted. AFCA can require the insurer to pay a claim, reverse a decision, and award compensation. Individual circumstances vary and you should seek personalised advice before taking formal action.

Can life insurance premiums be reduced without cancelling a policy?

In many cases, yes — and often without any reduction in cover. Based on 500+ policy reviews at Arrow Equities, the levers that may be available include: needs reassessment (has a mortgage reduced?), loyalty tax negotiation, ownership restructuring between personal and superannuation, waiting period adjustments, and insurer health incentive programmes. The specific options available depend on the individual policy terms, insurer, and personal circumstances. For a structured overview see 5 Ways to Reduce Life Insurance Premiums Without Cancelling Cover. You should seek personalised advice before making changes to any existing policy.

What hidden benefits might exist in an existing life insurance policy?

Common hidden benefits identified at review include: smoking cessation discounts (potentially up to 50% premium reduction on some policies), BMI loading removal after sustained weight loss, insurer health programme discounts, and free access to specialist medical consultations for policyholders and their immediate families — accessible in some cases within two to three business days. These benefits are in the contract terms; they are not proactively offered by the insurer and must be identified and requested at review. Individual policy terms vary and you should seek personalised advice to identify what may be available under a specific policy.

About the Author

Christopher Hall, AdvDipFP Authorised Representative, AFSL 526688 | Rose Bay Equities Pty Ltd | ABN 87 645 284 680

Christopher Hall is the Principal of Arrow Equities and one of approximately 1,120 financial advisers in Australia who specialise primarily in life risk insurance. He holds an Advanced Diploma of Financial Planning (AdvDipFP) and has completed more than 500 life insurance policy reviews for Australian families — covering policies from all major Australian life insurers including AIA, TAL, Zurich, MLC (Acenda), NobleOak, ClearView, and OnePath.

Reviews consistently surface the same patterns: loyalty tax overcharging on policies held five or more years without review, duplicate cover between default super and personal policies, and ownership structures costing clients thousands per year in avoidable premiums. Christopher advises clients across Australia from Arrow Equities' office in Rose Bay, Sydney NSW.

Read Christopher's full profile: arrowequities.com.au/christopher-hallBook a no-obligation policy review: Arrow Equities booking page

References

1. Australian Financial Complaints Authority 2025, Life insurance complaints annual review 2024–25, AFCA, viewed March 2026, <afca.org.au/annual-review-life-insurance-complaints>

2. Australian Financial Complaints Authority 2025, Make a complaint — insurance, AFCA, viewed March 2026, <afca.org.au/make-a-complaint/insurance>

3. Australian Financial Complaints Authority 2023, Record 97,000 complaints taken to AFCA in 2022–23, AFCA, <afca.org.au/news/media-releases/record-97000-complaints-taken-to-afca-in-2022-23>

4. Life Code Compliance Committee 2025, About the Life Insurance Code of Practice, LCCC, viewed March 2026, <lifeccc.org.au/about/about-the-code>

5. Australian Securities and Investments Commission 2025, Insurance — consumer information, ASIC, viewed March 2026, <asic.gov.au/for-consumers/insurance>

6. Australian Securities and Investments Commission & Australian Prudential Regulation Authority 2025, Joint letter on premium increases in life insurance, June 2025, <download.asic.gov.au>

7. Australian Prudential Regulation Authority 2025, Life Insurance Claims and Disputes Statistics 2024–25, APRA, released October 2025

8. Australian Prudential Regulation Authority 2022, Life Insurance Claims and Disputes Statistics, APRA

9. Insurance Contracts Act 1984 (Cth), ss 20B, 21, 21A, 28, 29, Federal Register of Legislation, <legislation.gov.au/Details/C2022C00015>

10. Rice Warner 2020, Underinsurance in Australia, Deloitte (formerly Rice Warner)

11. Adviser Ratings 2023, 2023 Life Insurance Study, Adviser Ratings, Sydney

12. Hall, C. 2024–2026, Proprietary policy review data, Arrow Equities, 500+ Australian insurance policy reviews

Educational Disclaimer

This content is for educational purposes only and does not constitute financial advice. Past performance is no guarantee of future results.

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