Understanding the Life Insurance Code of Practice
Introduction to the Life Insurance Code of Practice The Life Insurance Code of Practice is a voluntary industry code that sets out the standards and commitments of life insurance companies in Australia. It was developed by the Financial Services Council (FSC) in collaboration with life insurers to promote high customer service standards, transparency, and fairness within the life insurance industry. In this article, we will delve into the purpose, key principles, benefits, and implications of the Life Insurance Code of Practice. Purpose and Objectives of the Code The primary purpose of …
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