Life Insurance Code of Practice
Our promise to you
To ensure that you receive the highest standard of service when you take out a life insurance product with us, we comply with the Life Insurance Code of Practice (the Code). The Guardian Insurance team and the insurer of our life insurance products (Hannover Life Re of Australasia Ltd – a code subscriber), comply with the Code in all their dealings with you.
What does the Life Insurance Code of Practice cover?
The Code sets out the life insurance industry’s key commitments and obligations. It covers many aspects of your relationship with Guardian Insurance and Hannover, from buying insurance to making a claim, to providing options if you experience financial hardship or require additional support.
Key Code promises
- We will be honest, fair, respectful, timely and transparent when we communicate with you, and we will use plain language unless medical or other technical terminology is needed.
- We will monitor sales and retention practices to ensure they are completed appropriately.
- If a sale occurs using unacceptable sales practices, we will fix it.
- Additional support is available if you have difficulty with buying insurance or making a claim.
- When you make a claim, we will explain the process to you and keep you informed on the progress of your claim.
- A decision on your claim will be made within the Code timeframes, and if in circumstances beyond our control we cannot meet these timeframes, we will explain why and you will have access to our complaints process.
- If we deny your claim, we will explain the reasons in writing and let you know the next steps if you disagree with our decision.
- We will restrict the use of investigators and surveillance, to preserve your right to privacy.
- The independent Life Code Compliance Committee will monitor our compliance with the Code.
- If we do not correct the Code breaches, sanctions can be imposed on us.
Getting a copy
General Insurance Code of Practice
We proudly comply with the General Insurance Code of Practice. The Code outlines the standards that insurers and their distributors need to deliver. It lets you know what you should expect from your insurance company and distributor. The Guardian Insurance team and the insurer of our pet insurance products (The Hollard Insurance Company Pty Ltd), comply with the Code in all their dealings with you.
The Code aims to:
- Improve relationships between insurers and their customers
- Give you confidence in the insurance industry
- Help you resolve any disputes about your insurance cover more easily
It also guides insurers and distributors on how they should:
- Provide information and education about products and services
- Respond to catastrophes and disasters
- Resolve any disputes that customers may have
The Federal Government, insurance companies, consumer groups and the Insurance Council of Australia all support the General Insurance Code of Practice.
You can obtain a copy of the General Insurance Code of Practice from the Insurance Council of Australia website at insurancecouncil.com.au. If you’d like to contact the Australian Financial Complaints Authority, go to www.afca.org.au.