Tips & Cases

Complaints contain valuable information about when and how things go wrong. By sharing tips & cases about common issues, we aim to help more things go right.

Insurance

The best time to understand your insurance cover is before you might need it. Insurance won’t cover you for all events, but there are steps you can take to make it more likely you will get the cover you expect and prevent future issues. Checking your policy is a good place to start.

Travel Insurance

Overseas travel has changed significantly and is much easier than it used to be, but travel plans continue to be disrupted by unexpected events. While travel insurance is often purchased online, via an agent, or as a credit card perk, it’s important to get hold of the policy and check your cover - know your obligations and the exclusions.

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House & Contents

The best time to think about insurance is before you need it. Insurance provides cover for sudden and accidental damage. It won’t cover you for everything. There are steps you can take to avoid common issues, and to make it more likely you’ll have the cover you expect. Start by checking your policy

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Health Insurance

Health insurance will not provide cover for all treatments, medical procedures or medications. Check your policy for limitations and exclusions. Tell your insurer about your whole health history when you apply for insurance to avoid issues arising later if you need to make a claim. Usually, pre-existing conditions are not covered, unless the insurer says they are.

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Life Insurance

A range of insurance products cover the risks of death (life insurance), specified life threatening health conditions (trauma insurance), or the inability to work (income protection or disability insurance). This cover can be essential if you have financial commitments, such as a mortgage, or a family.

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Vehicle insurance

The IFSO Scheme receives over 1,000 complaint enquiries a year about car insurance. If you own a car it’s wise to have insurance, even if you only have third party cover if you damage some else’s car. To avoid future issues, and to make it more likely you’ll have insurance cover if you need it, start by checking your policy.

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Natural Disasters

Natural disasters like earthquakes, storms and floods can cause damage and devastation. While the aftermath can be stressful, contacting your insurer and following the tips below could help prevent future issues with insurance.

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Other Financial Services

Financial advice, credit contracts, and superannuation are among the financial services provided by IFSO Scheme Participants. It’s important to be well informed about products or services before signing any contract. Take time before you sign. Ask questions about the fees you’ll be charged and ask about your obligations.

Financial Advisers

A financial adviser can help guide your choices about insurance, money, investing, borrowing and other financial products. They include financial planners, mortgage and insurance brokers and employees of insurance companies, banks and building societies who give advice.

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Loans and credit

Take time before you sign any credit contract or loan agreement. It’s important to understand fees and charges, payment obligations and interest, and to know what to do when you might be behind in payments.

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Superannuation & Investments

Over time, the value of investments may go up and down, depending on the economy. Superannuation is a long-term investment product, aimed at providing an income for you in retirement.

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