About this Guide
This Financial Services Guide (FSG) describes the services provided by your mortgage broker, the company they represent and the Australian Financial Services Licensee under which they are authorised (the three parties referred to as “we/us/our” in this guide). It is designed to assist you to decide whether you wish to use our services and describes how we are remunerated and what to do if you have a complaint about our services.
You may also receive a Product Disclosure Statement (PDS) which contains important information about the insurance including details of benefits, exclusions and premiums. If you have any questions about the information contained in the PDS, please ask your mortgage broker or call ALI Group on 1800 006 776.
What services do we provide?
ALI Group holds an Australian Financial Services licence and is authorised to arrange for you to apply for life and general insurance and to provide general advice on those products. ALI Group has appointed your mortgage broker and the company they represent as our authorised representatives. These appointments enable them to arrange life and general insurance products for you through ALI Group and to provide general advice on those products.
We will not advise you on the suitability of the product for your particular circumstances or provide you with information that takes into account your financial situation or your personal needs and objectives.
In some instances, your mortgage broker may provide you with factual information and refer you to another Australian Financial Services licensee or representative for them to provide you with advice on and arrange insurance for you.
Who do we act for?
ALI Group issues life insurance policies on behalf of the life insurer under binder and therefore acts as the insurers’ agent when arranging your insurance. Your mortgage broker and the company they represent act on behalf of ALI Group, and therefore also on behalf of the life insurer.
Professional indemnity insurance
ALI Group has Professional Indemnity insurance in place that complies with the requirements of s912B of the Corporations Act 2001 and covers claims made in relation to the conduct of ALI Group and its Authorised Representatives (including your mortgage broker and the company they represent) in providing the financial services set out in this FSG. This cover extends to claims made in relation to employees of ALI Group and mortgage brokers and other entities who are no longer representatives of ALI Group (but who were our representative at the time of the circumstances that led to the claim).
About your mortgage broker
Authorised Representative Number: 1236666
Address: PO Box 6395 GCMC, Queensland 9726
0407 729 755
About the Licensee
Australian Life Insurance Distribution Pty Ltd (ALI Group)Australian Financial Services Licence Number (AFSL): 226403GPO Box 4737, Sydney NSW 2001Tel: 1800 006 776
How are we paid?
ALI Group receives an ongoing commission, calculated as a percentage of your premium (excluding taxes and charges), from the insurer after you have paid the premiums.
Australian Life Insurance Administration Pty Ltd may provide administration and compliance services to the insurer. Australian Life Insurance Administration Pty Ltd is a related company of ALI Group. Where these services are provided, it receives a fee from the insurer, calculated as a percentage of your premium (excluding taxes and charges), for providing these services.
ALI Group pays a percentage of its commission in the form of commission or other benefits to:
• your mortgage broker, or
• the company your mortgage broker represents, or
• the broker group to which your mortgage broker, and/or the company your mortgage broker represents, belong. Where ALI Group pays the broker group, they may in turn pay a percentage of this commission to your mortgage broker and/or the company your broker represents.
Under ALI Group’s Broker Partner Program, your mortgage broker may receive recognition in the form of products and services that support them in their business. Eligibility criteria is aligned with factors aimed at better customer care, and does not include sales volume.
You can ask us for more particulars of our remuneration or other benefits within a reasonable period after receiving this FSG and before we provide you with any of the insurance services described in this FSG.
Note: If your insurance is cancelled all or part of the commission may need to be repaid by the recipients.
What to do if you have a complaint
We are committed to providing you with great service. If you have a complaint, please call our Contact Centre Team on 1800 006 776 or send your complaint to ALI Group by emailing ALI or by writing to “The Complaints Manager (Distribution)”, at ALI Group’s postal address (as noted on the previous page).
If ALI Group is unable to resolve the issue to your satisfaction, you have the right to complaint to the Financial Ombudsman Service (FOS). FOS is an independent complaints resolution scheme of which ALI Group is a member. Their service is free of charge to consumers. FOS may be contacted by:
• Phone – 1800 367 287
• Fax – 03 9613 6399
• Website – www.fos.org.au
This Financial Services Guide was prepared on 29 October 2018. Distribution of this FSG has been authorised by ALI Group.