Call us: 0800 347 257

Term life insurance and service fees

Helen approached an insurance adviser to obtain life insurance. Helen signed the adviser’s terms of engagement noting fees. Helen moved insurers after 10 months and was charged $1,495.00. Was the adviser entitled to charge the fee?

Cat fight

Barbie obtained business insurance through an insurance broker. Barbie and her broker had a personal fight that ended their business relationship. Barbie complained that the broker had been unprofessional and asked for a refund of the commission that the broker earned from Barbie’s business.

Back cracking, but cover lacking

When completing his health insurance application, Brian failed to disclose that he had back and shoulder injuries, and he had monthly visits to a chiropractor. After having an insurance claim declined for non-disclosure, Brian complained his adviser hadn’t told him about the need for disclosure. Is the adviser liable for Brian’s lost insurance cover?

Financial Adviser – Loan Finance – Building Project

Jane needed a loan to build a boarding house on her property. Jane used a financial adviser to help her find finance. When the loan needed rolling over Jane incurred further fees, both from the lender and the adviser. Jane was not happy with the level of the fees and said the adviser had not made her aware of all the extra fees that would apply. Was the adviser required to refund some of the fees to Jane?

You’re my adviser! You should be advising

Christine asked an insurance adviser to place cover to protect her family in the event she got sick. When Christine’s subsequent sickness was not covered by insurance, Christine complained to FSCL.

Restricted remit ruins relationship

Sanjay wanted lower cost insurance and asked his insurance adviser to get quotes from other insurers. Sanjay’s insurance adviser provided the quotes and Sanjay chose a new insurer. Sanjay completed the application forms and the new insurer approved cover. Shortly after moving insurer, Sanjay made a claim. After reviewing Sanjay’s medical records, the new insurer cancelled Sanjay’s policy for non-disclosure of pre-existing medical conditions. Sanjay was upset that his adviser had not fully advised him about go the new policies and his duty of disclosure. Was the insurance adviser at fault?

Having to sit down during the stand down

Daniel wanted to reduce his insurance premiums. Daniel’s adviser found a new policy that would provide similar benefits at a lower premium. 60 days into his new policy, Daniel was diagnosed with cardiomyopathy. Daniel’s claim under his new trauma policy was declined because it occurred within a 90 day stand down period in his policy. Daniel felt his adviser should have ensured that he had trauma cover before cancelling his old policy. Would Daniel’s claim ever be paid?

A trauma-tic response

Brendan made a claim under his health insurance policy believing he would receive $50,000 after a conversation with his insurance adviser. Brendan only received $12,500 for his claim. Is the insurance adviser liable to pay the difference?