Case Studies

The following case summaries highlight common issues and consumer tips. Cases can be filtered by subject below and names have been changed to protect confidentiality. Access to the full case study database is available for IFSO Scheme Participants in the Participant Area.

Showing all Life Insurance case studies

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Request to reduce life cover image
Insurers and financial advisers must act with reasonable care and skill.
Shortly before he died, Sam asked his financial adviser to reduce his life insurance cover from $268,000 to $100,000.
Life Insurance Financial Advisers
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Cancer, non-disclosure image
Your full medical history must be disclosed when you apply for insurance.
Jin had life and trauma insurance. After his stage 4 colon cancer diagnosis at age 31, he made a claim.
Life Insurance
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When the policy pay-out is limited image
Check your policy. Accident cover is not life insurance.
When Tim’s dad Roger died, Tim made a claim under Roger’s policy called the “$50,000 Plan”. The insurer paid out $500.
Life Insurance
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What is fair and reasonable conduct? image
Educational, cultural and personal circumstances of customers are relevant.
When Lagi's claim was declined, the IFSO Scheme asked whether the sales process was fair and reasonable.
Life Insurance
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Life insurance, reduced payment image
Don't leave medical information off an insurance application.
After Mary died, her life insurer discovered she'd had diabetes, cholesterol and blood pressure issues.
Life Insurance
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No cover for childbirth trauma image
Trauma insurance cover is specific. Check the exclusions, and the conditions listed in your policy.
Carol sustained significant physical trauma during childbirth, but her trauma insurance claim was declined.
Life Insurance
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Income protection reinstated image
Tell your insurer, or adviser, about your full medical history and write it down.
Robert didn’t mention his chronic headaches on his insurance application, but he did tell the bank adviser.
Life Insurance
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Full medical history needed image
Tell your insurer your full medical history, even if it's old news.
When Rose arranged insurance, she didn’t mention her depression, skin, sinuses, spine, liver, cholesterol or ear issues.
Life Insurance
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