Topic: Life Insurance

Thomas and Tracy were advised to take out alternative insurance policies by an adviser. The policies were less suited for them than their existing insurance. Was the company that contracted the adviser responsible for the complaint?

When Amber forgot to change her membership status she paid for cover that she could never have claimed under. Should Amber be reimbursed for this unnecessary cost?

When Andrew was 72 years old an adviser sold him $100,000 life cover which cost him $164,000 over 10 years

Jane’s financial adviser recommended that she move her life and mortgage protection insurance company to a new insurance company. Jane did not disclose a pre-existing medical condition and a claim under her mortgage protection insurance was later declined. The adviser’s process was flawed but did not cause a direct financial loss. The adviser paid compensation for inconvenience.

When Kate suffers a back injury, she is surprised to find her income protection insurance doesn’t kick in for 13 weeks since the accident. To make matters worse, her insurance claim is then declined for non-disclosure of medical conditions. Was any of this her adviser’s fault?

Neville increases his trauma cover from $75,000 to $100,000. However, when he makes a claim, he’s shocked to only receive $20,000.

Rawiri and Jenny’s financial adviser recommended they get life and trauma insurance cover when they refinanced. A couple of years later, Rawiri asked the adviser to cancel the insurance, but the adviser said it was compulsory for them to keep it as part of their refinance.

Sobitha’s financial adviser was unable to show that he acted in Sobitha’s best interests when recommending an insurance change that left Sobitha with less cover than she believed was in place