I moved apartments last year and in the process I misplaced my policy documents. Is there any way I can get my policy documents re-issued?
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Answer by Neha Sharma, Hillsdale 2036 NSW
- Under section 221 of the Life Insurance Act 1995 (Cth) the insurance company may only issue a replacement policy document if certain conditions are met.
- The request must be made in writing and by either the:
- owner of the policy; or
- if the policy owner is deceased a person lawfully claiming the benefit under the policy.
- When the company issues the replacement documents the original documents become invalid.
- The company must provide 10 days’ notice of its intention to issue a new replacement policy document. The notice must be circulated in a local newspaper in the district in which the owner of the policy resides.
- You should contact the insurance company to gather information regarding any replacement fee as under section 223 of the Life Insurance Act 1995 (Cth) the applicant for a replacement policy document must meet all the expenses of the advertisement and of the replacement policy document.