Financial Services Guide

About this Financial Services Guide

This FSG contains important information about AFA Pty Ltd (AFA). Please read it carefully as is designed to help you decide whether to use our services.

This Guide includes information about:

• The services we offer you

• The financial services we are authorised to provide

• What information we maintain about you

• Product Disclosure Statements

• How we and our associates are remunerated

• Our internal and external complaints and dispute resolution procedures and how you can access them

• Our client compensation arrangements

What Information Do We Maintain About You and How Can You Access It?

AFA is committed to protecting your privacy. We maintain a record of your personal profile from information supplied to us by you (or your intermediary). We only use it for the purposes of providing our services to you and administering your and our rights under your insurance policies. That record contains information provided by you and, about insurance policies that we have arranged for you.

AFA does not trade, rent or sell your information and you can check the information we hold about you at any time. AFA’s complete Privacy Policy can be accessed on our website www.afainsurance.com.au or by writing to us at the address shown in this FSG.

If you wish to access your file, please contact our Privacy Officer on 02 9259 8222.

Product Disclosure Statement (PDS)

If you are a retail client and decide to acquire an insurance policy from our company, you will be given a Product Disclosure Statement (PDS) before or at the time you acquire the insurance. The PDS is designed to assist you to make informed choices about your insurance needs.

It gives a summary of the features, benefits and risks associated with, including general information about, the insurance as well as a policy wording (that sets out the specific terms, conditions and exclusions of the cover provided).

How AFA is Renumerated?

Unless we tell you otherwise AFA will receive commission, which is percentage of the Insurer’s gross premium (i.e. premium excluding stamp duty, fire services levy, GST or other government charges, taxes, fees or levies) each time you buy a policy (including renewals) and for some variations. This does not increase the amount of premium paid by you.

Commission will be received only after the contract has been entered into and is payable to us at the end of each month.

Other remuneration information:

• Our staff receive an annual salary.

• If you were referred to us, we may pay the person who referred you up to half of the commission that would normally be payable. This does not increase the amount payable by you.

• If there is a refund of premium payable as a result of the cancellation or adjustment of a policy, we reserve the right to retain our remuneration earned prior to the cancellation or adjustment. This is a percentage of the base premium for the period elapsed on the insurance contract as at the time of cancellation or adjustment.

You can ask us for further details of the remuneration that we receive. If you are interested in this information, you must ask us for it within a reasonable timeframe after receiving this FSG. You must ask us before we provide any financial services to you, such as placing your insurance.

Cooling off Period

After you apply for a AFA product and you have received the policy document, you have 21 days to check that the policy meets your needs. Within this time you may cancel the policy and receive a full refund of any premium paid, unless you have:

• made a claim or become entitled to make a claim under your policy; or

• exercised any right or power you have in respect of your policy or the policy has ended.

Your request will need to be in writing and forwarded to us via your intermediary or to AFA Pty Ltd, P.O. Box 463, North Sydney NSW 2059.

You can cancel your policy at any time after the cooling–off period.

Renewals

In some cases we may automatically renew your insurance to ensure you continue to be covered. At that time we will send you an offer to renew the insurance policy and invoice you for the cost of renewal. If there is a change to your circumstances or if you want to change the details of the cover, contact us as soon as you receive the renewal offer. This will allow us to assess whether your insurance is appropriate for your circumstances.

Complaints and Disputes Resolution Process

If you have a complaint about an insurance product we have issued or service you have received from us, please contact your intermediary to initiate the complaint with us. If you are unable to contact your intermediary, you can contact us directly on 1300 728 997. We will acknowledge receipt of your complaint within 24 hours or as soon as practicable.

If you are not satisfied with our initial response, you may use our internal dispute resolution process.

Stage 1 – Handling your Complaint

We will respond to your complaint within 15 business days provided we have all the necessary information and have completed any investigation required. If more information or investigation is required, we will agree reasonable alternative timeframes with you. We will keep you informed of the progress of your complaint at least every 10 business days unless otherwise agreed.

Stage 2 – Internal Dispute Resolution

If you are not satisfied with our response or we cannot agree on reasonable alternative timeframes, your complaint will be registered as a dispute and it will be reviewed through our Internal Dispute Resolution process.

We will respond to your dispute within 15 business days of your request to review our decision provided we have all necessary information and have completed any investigation required. If we cannot meet this timeframe because additional information or investigation is required, we will seek to agree an alternative timeframe with you. We will keep you informed of the progress of your dispute at least every 10 business days unless otherwise agreed.

If you are still not satisfied with our response or we cannot agree on reasonable alternative timeframes, you can refer the matter to the External Dispute Resolution.