The Council of Australian Life Insurers (CALI) has recently appointed Peter Kell to conduct and Independent Review of the Life Insurance Code of Practice (the Life Code).
As part of the Review, the Consumers’ Federation of Australia has been asked to select an appropriate organisation from our members to conduct a funded sector-wide submission to the Review. The Life Code Review formally commences on 1 October 2025 with a detailed consultation paper released on 17 October 2025 and the final report provided to CALI at or before 30 June 2026.
Given the broad nature of the Life Code, it is important that a thorough and comprehensive submission be made that encapsulates both the general concerns of consumers and consumer advocates and more specific concerns that have an outsized impact on particular demographics and vulnerable communities.
The terms of reference are:
- Whether any changes are required to ensure the Life Code supports and does not conflict with reforms in the legal and regulatory framework for life insurers that have occurred since the last review. This includes previous (and expected) Government reforms and guidance on complaints and complaints handling, the use of genetic testing in life insurance underwriting, service standards for superannuation trustees on insurance claims handling, changes to financial advice laws and other relevant reviews that have occurred since the last Code review;
- The effectiveness of the Life Code provisions relating to customers who are experiencing a mental health condition, including when buying a life insurance product or making a claim;
- Support for customers experiencing vulnerability and financial hardship. This could consider best practice approaches to identifying customers experiencing vulnerability and providing them with appropriate service and extra care;
- Whether any changes are required to ensure the Life Code is meeting the needs of First Nations customers;
- Whether the provisions of the Life Code relating to claims handling remain appropriate to ensure timely resolution of claims and complaints and effective communication with claimants and superannuation trustees (where applicable) throughout the process;
- Opportunities for enhancements and clarifications to the Life Code to improve consumer understanding, suitability, accessibility and affordability of life insurance products for all Australians;
- The role of medical definitions in the Life Code and whether any changes are required to the current definitions to ensure they set an appropriate standard for the industry;
- The role of the LCCC and its functions, powers and resourcing set out in the Life CCC Charter and whether any changes are required to improve the Life CCC’s oversight and enforcement of the Life Code; and
- The enforceability of the commitments made under the Life Code, including but not limited to consideration of the enforceable code provisions framework.
For more information on the Review itself, please visit the Review’s website (lifecodereview.org.au) or read the full terms of reference document here. To apply for the sector submission opportunity or for further information about the selection process please contact info@consumersfederation.org.au.