FSC New Life Insurance Code of Practice
2 videos • 2 views • by FinServCouncil The FSC's New Life Insurance Code of Practice will come into force on 1 July 2023. From that date, FSC Life Insurance members will become subscribers to the New Life Code which will further lift consumer protections in the life insurance industry. The current Life Code has already set important benchmarks to ensure that people can take out life insurance with confidence, that, if the time comes, their life insurer will be there to support them. The New Life Code will introduce over 50 new important consumer protections that cover every aspect of how customers interact with their life insurer – from the way products are designed, sales, underwriting, communications, and claims. It also has important new protections for customers going through times of vulnerability, financial hardship or experiencing a mental health condition.