18 Oct SCT Rulings, Dominated by Life Insurance Complaints
The last quarter of 2012 financial year saw a great number of life insurance complaints filed at the Superannuation Complaints Tribunal. Telephone complaints coming from fund members totaled 2809 while the number of written complaints reached 627.
Summary of complaints with decisions by both fund trustees and insurers upheld by the SCT:
- In the quarter to June 30, there were a total of thirteen determinations, seven of which are insurance related. There were some claims refusal and two death benefits issues.
- Three claims complaints were filed for total and permanent disability.
- Two income protection complaints were filed:
- Coverage that ends on insured’s 55th year instead of 60th
- Policy’s varying terms.
As for the number of complaints specific to insurance, there were no details provided.