Financial Services Guide (FSG)

About This Financial Services Guide

This Financial Services Guide (FSG) is an important document designed to help you make an informed decision about the financial services we provide.

This FSG explains:

• Who we are and how to contact us
• What services we provide
• How we are paid for our services
• How we handle complaints and disputes
• How we protect your privacy
• What to do if you are not satisfied with our services

ASIC Requirement

The Australian Securities and Investments Commission (ASIC) requires all financial service providers to provide you with this FSG before, or at the time, we provide you with any financial services. This ensures you have the information you need to make an informed decision.

1. Who We Are

About Insure Me For Life (IMFL)

We are an Authorised Representative of Consilium Advice Australia Pty Ltd, which holds an Australian Financial Services Licence (AFSL). This means we are authorised to provide financial services to you under the authority of Consilium's licence.

What This Means for You

• We are regulated by ASIC and must comply with the Corporations Act 2001
• Consilium Advice Australia is responsible for the financial services we provide
• We are bound by strict professional and ethical standards
• You have access to internal and external dispute resolution processes (see Section 6)

Contact Details

2. Services We Provide

2.1 General Advice Only

This is a critical distinction:

General Advice:

• Does not take into account your personal objectives, financial situation, or needs
• Provides general information about insurance products and their features
• May include comparisons of different insurance products
• Does not require us to assess your individual circumstances

Personal Advice (which we DO NOT provide):

• Takes into account your specific financial situation, goals, and needs
• Involves a detailed assessment of your circumstances
• Results in a Statement of Advice tailored to you
• We are NOT authorised to provide this type of advice

2.2 What Services We Offer

We provide general advice and assistance in relation to the following types of insurance products:

1. Life Insurance (Death Cover) - Lump sum payment to your beneficiaries if you pass away
2. Total and Permanent Disability (TPD) Insurance - Lump sum payment if you become totally and permanently disabled
3. Income Protection Insurance - Regular monthly payments if you cannot work due to illness or injury
4. Trauma/Critical Illness Insurance - Lump sum payment if you are diagnosed with a specified critical illness

2.3 How We Help You

Our services include:

• Providing general information about life insurance products
• Assisting you to request quotes from multiple insurers
• Presenting quote comparisons from various insurance providers
• Explaining product features, benefits, and exclusions in plain language
• Helping you complete application forms and documentation
• Liaising with insurers on your behalf during the application process
• Providing ongoing service and support after your policy is issued

2.4 What We Do NOT Do

To be clear, we do NOT:

• Provide personal financial advice tailored to your specific circumstances
• Recommend specific products based on your individual needs
• Assess your overall financial position or goals
• Prepare Statements of Advice (SOAs)
• Provide advice on investments, superannuation strategies, or estate planning

If you need personal financial advice, we recommend you consult with a licensed financial adviser who is authorised to provide personal advice.

3. General Advice Warning

IMPORTANT: Please Read This Carefully

This means:

• We have NOT assessed your individual objectives, financial situation, or needs
• The information may not be appropriate for your particular circumstances
• You should consider the appropriateness of any general information or product having regard to your own circumstances
• If in doubt, you should seek personal advice from a licensed financial adviser

Before You Purchase Insurance

Before making a decision to purchase any insurance product, you should:

1. Read the Product Disclosure Statement (PDS) - Every insurance product has a PDS that explains features, benefits, costs, and exclusions
2. Read the Target Market Determination (TMD) - Describes the type of customer the product is designed for
3. Consider Your Own Circumstances - Think about your financial situation, goals, and needs
4. Ask Questions - If anything is unclear, ask us to explain it in plain language
5. Seek Personal Advice if Needed - If you need help assessing your specific needs, consult a licensed financial adviser

Your Responsibility

You are responsible for:

• Deciding whether the insurance product is right for your circumstances
• Providing accurate and complete information in your application
• Understanding the terms, conditions, and exclusions of the policy
• Making sure you can afford the premiums
• Informing the insurer of any changes that may affect your cover

We cannot make this decision for you - this is a decision you must make based on your own circumstances.

4. How We Are Paid

We believe in transparency. This section explains how we receive payment for our services.

4.1 Commission from Insurers

We receive commission from insurance companies when you purchase a policy through us.

This commission is:

• Paid by the insurance company, not by you directly
• Already factored into the premium you pay (whether you use a broker or buy direct)
• Disclosed to you before you purchase a policy

4.2 Commission Structure

Insurance companies typically pay us commission in two ways:

Initial Commission (Upfront):

• Paid when your policy is first issued
• Typically between 60% and 110% of your first year's premium
• Example: If your annual premium is $1,000 and the commission rate is 80%, we receive $800

Ongoing Commission (Trail Commission):

• Paid annually while your policy remains active
• Typically between 10% and 20% of your annual premium
• Example: If your annual premium is $1,000 and the trail rate is 15%, we receive $150 per year

4.3 No Additional Fees to You

We do not charge you any additional fees for our services. Our only remuneration comes from the commission paid by insurance companies.

The premium you pay is the same whether you:

• Purchase insurance through us (a broker)
• Purchase directly from the insurance company
• Purchase through another broker

4.4 Potential Conflicts of Interest

We want to be completely transparent about potential conflicts of interest:

Different Commission Rates: Different insurers pay different commission rates, which could create an incentive to recommend products with higher commissions.How we manage this: We present quotes from multiple insurers (typically 8+ options) and allow you to choose based on price, features, and insurer reputation - not based on our commission.

5. Complaints and Disputes

We are committed to providing you with quality service. However, if you are not satisfied with our services, we have a process in place to address your concerns.

5.1 Internal Complaints Process

Step 1: Contact Us First

If you have a complaint, please contact us as soon as possible:

We will:

• Acknowledge your complaint within 1 business day (or as soon as practicable)
• Investigate your complaint thoroughly and fairly
• Aim to resolve your complaint within 30 days
• Keep you informed of the progress
• Provide you with a written response explaining our decision

5.2 External Dispute Resolution - AFCA

If your complaint is not resolved to your satisfaction through our internal process, or if we have not provided a final response within 30 days, you have the right to refer your complaint to the Australian Financial Complaints Authority (AFCA).

AFCA is an independent external dispute resolution scheme approved by ASIC. AFCA provides fair and independent financial services complaint resolution that is free to consumers.

6. Privacy and Your Personal Information

We are committed to protecting your privacy and handling your personal information responsibly.

6.1 What Information We Collect

We collect personal information from you to provide our services, including:

• Your name, date of birth, contact details (email, phone, address)
• Financial information (income, assets, liabilities)
• Health information (medical history, smoking status, pre-existing conditions)
• Employment details
• Information about your dependents and beneficiaries

6.2 How We Collect Information

We collect information:

• Directly from you through forms, phone calls, emails, and meetings
• From third parties with your consent (e.g., your accountant or financial planner)
• From insurance companies (e.g., application status, policy details)

6.3 Why We Collect Information

We collect, use, and disclose your personal information to:

• Provide you with general information about insurance products
• Request quotes from insurance companies on your behalf
• Assist you with completing insurance applications
• Liaise with insurers during the underwriting and application process
• Provide ongoing service and support for your policies
• Comply with legal and regulatory obligations

6.4 Who We Share Information With

We may share your personal information with:

• Insurance Companies: To obtain quotes and process your applications
• Our AFSL Holder (Consilium Advice Australia): For compliance and supervisory purposes
• Service Providers: Who assist us with our business operations
• Regulatory Bodies: Such as ASIC, when required by law

6.5 Your Privacy Rights

You have the right to:

• Access your personal information held by us
• Correct any inaccurate or incomplete information
• Request that we delete your information in certain circumstances
• Complain if you believe we have breached your privacy

7. Your Rights and Protections

7.1 Cooling-Off Period

Most insurance policies include a "cooling-off period" (typically 30 days from the date the policy is issued). During this period, you can cancel your policy and receive a full refund of premiums paid, provided you have not made a claim.

7.2 Duty of Disclosure

This is called your "duty of disclosure" and is a legal requirement under the Insurance Contracts Act 1984.

What you must disclose:

• Your medical history and current health status
• Any pre-existing medical conditions
• Your lifestyle (e.g., smoking, alcohol consumption, dangerous hobbies)
• Your occupation and any hazardous activities
• Any previous insurance applications, claims, or declined applications

It is critical that you answer all questions truthfully and completely. If you are unsure whether to disclose something, you should disclose it. It is better to provide too much information than too little.

8. Questions?

If you have any questions about this Financial Services Guide, or about any of the services we provide, please don't hesitate to contact us:

We are here to help you understand your options and navigate the insurance process.