I asked my insurance company to re-issue my lost policy document. It has been four months and the insurance company has not progressed my request. What can I do?
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Answer by Neha Sharma, Hillsdale 2036 NSW
- The insurance company may issue a replacement policy document if it is satisfied that there is sufficient evidence of the loss or destruction of the original policy document.
- The replacement policy documents may be requested by either:
- the policy owner; or
- a person who is lawfully entitled to the benefit under the policy if the policy owner is deceased.
- Section 221 of the Life Insurance Act 1995 (Cth) states that if the company does not issue a replacement policy document within 6 months after it receives a written request the policy owner may apply to a court for an order.
- If the court is satisfied of the requirements it may order the company to issue a replacement policy document to the applicant within an appropriate time frame.