Life Insurance Code of Practice
MetLife is proud to have adopted the Life Insurance Code of Practice – an industry code introduced by the Financial Services Council (FSC) to ensure a consistently high level of product and service standards for all Australians.
The Code has been voluntarily developed by the life insurance industry with the objectives of:
- Promoting high standards of service to consumers;
- Providing a benchmark of consistency within the life insurance industry;
- Establishing a framework of professional behaviour standards and responsibilities for life insurers.
Standards established in the Code cover aspects such as:
- The design of life insurance products;
- How life insurance is advertised and sold;
- Consumer rights to information;
- Timeframes which must be met when delivering life insurance services;
- Support for customers with special needs or in financial hardship; and
- Accessible and effective complaints and disputes handling practices.
An independent body will monitor life insurers’ compliance with the Code.
Code standards apply from 1 July 2017. For further information or to download a copy of the Code, please refer to the Financial Services Council website.