Under the Corporations Act 2001 (the Act) Retail Clients are provided with additional protection from other clients. The Act defines Retail Clients as: Individuals or a manufacturing business employing less than 100 people or any other business employing less than 20 people and that are purchasing the following types of insurance covers: motor vehicle, home building, contents, personal and domestic, sickness/ accident/ travel, consumer credit and other classes as prescribed by regulations.
What advice is being provided (Retail Clients Only)
If you are a Retail Client (refer above) purchasing a Motor Vehicle (under 2 tonne), home building, contents, personal and domestic, Sickness and Accident or travel policy and a Statement of Advice has not been provided to you with this invoice, then the advice that we are giving you related to this transaction is General Advice. General Advice is advice that has been prepared without considering your current objective’s, financial situation or needs. Therefore, before acting on this advice, you should consider the appropriateness of the advice having regard to your current objectives, financial situation or needs. If the advice provided relates to the acquisition or possible acquisition of a new insurance policy we will have attached the insurer’s Product Disclosure Statement (PDS) for your review. You should consider the PDS prior to making the decision to purchase this product. Further information regarding the income we have earned from the insurer for this transaction is available upon request.