The Royal Commission Saga Continued: Fees for the Dead

In the opening volley of the Royal Commission, AMP was at the front of the pack when it came to dodgy dealings and misbehavior – but even after all that time in the spotlight at the start, AMP keeps making headlines.

There are only a few certain things in life – death, taxes and now apparently, AMP fees. After all the over-charging and fee for no-service scandals, news outlets reported that around 3000 people have been charged for life insurance premiums after they died.

The most likely knock-on effect of this is almost certainly one of the following:

  1. A person was sold life insurance and premiums were automatically deducted on their account after they died. In this case, the estate would at least be entitled to recover the premiums.
  2. A person was sold life insurance and premiums were deducted before they died, and the beneficiary could claim on the insurance policy.

If you or someone you know need assistance recovering overcharged fees, insurance premiums or insurance you were told you couldn’t claim on, call us today.

What Happened to “Utmost Good Faith”?

The daily parade of banking and insurance company executives through the witness box at the Banking Royal Commission has certainly provided grist for the media mill. The revelations that these companies engaged in conduct that would be reprehensible by standards adopted by decent people will make interesting reading when collated into Mr Justice Hayne’s Final […]