DISPUTE RESOLUTION​

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Make a Complaint

You can do this by phone, in person or in writing. Let us know about the problem or issue you’re having and explain what you’d like us to do to resolve or address it. Have the details of the issue or problem available when you’re talking to us. If you have an idea about the type of outcome you want, this is also helpful. We understand that dealing with a financial problem can be frustrating and cause strong emotion; however, it is important to engage in a respectful manner.

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Make a formal complaint

If you aren’t happy with our response to your concerns, or the problem can’t be fixed or sorted, you can ask to make a formal complaint to us. LifeX is an AFCA member and have a process to resolve complaints with consumers internally, before coming to AFCA as the external dispute resolution scheme. This process is known as ‘internal dispute resolution’ or IDR.

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Find the details of your financial firm’s internal complaints area or person

The contact details for the complaints area, and particular person are in our Financial Services Guide or the relevant Product Disclosure Statement.

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Ways you can complain

You may be able to complain to us in a range of ways including by phone, online, email or by sending a letter. Many complaints are resolved this way. Often it can be best to outline your concerns in writing, or speak with us by phone and then confirm your concerns in writing to them. ASIC’s MoneySmart recommends that formal complaints should be made in writing by letter or email, and you should:

• include the word ‘complaint’ in the heading or subject line
• include your name, contact details and the date
• set out the problem clearly and stick to the facts
• include copies of relevant documents such as receipts or invoices.

Sample letters that show you how to do this are available on the MoneySmart website.

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Documents you might need

Different information and documents will normally be required for different types of complaints, but the general categories of documents and information following will be most helpful: Evidence/supporting documents: This is the information, reports, assessments, photos, receipts, correspondence, bank and other financial statements that provide background to your complaint and that are likely to be relevant to the issues you have raised. It is also important not to write notes directly onto complaint documents as it can make it difficult to interpret your comments and it also changes the primary evidence. Claim details: This is the remedy, including any sum of money, or other outcome that you are seeking to resolve your complaint. Any relevant calculations of a claim for financial loss or compensation should be provided. You should also include documents, or references to documents that help us understand how you calculated your claim. Timeline/chronology of events: This should clearly explain what happened and when. The more complex the complaint, the more important it is to have this information. It also helps everyone to understand the order of events that have happened in relation to your complaint. The document checklist below might help you identify what is relevant and what is not.

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Getting a formal response from your financial firm

LifeX will always resolve your complaint in a timely way if you prepare your complaint properly. Our mandatory time limits is 20 business days.

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Complaints dating back to 1st January 2008

The Government has extended AFCA’s remit to consider financial complaints dating back to 1 January 2008. Consumers and small business owners will be able to lodge legacy complaints between 1 July 2019 and 30 June 2020. AFCA will be shortly issuing guidance that explains what this change means for you and how to lodge your complaint with AFCA. While awaiting this guidance, please do not lodge a complaint or call AFCA yet. AFCA’s statement on the extension of our jurisdiction contains more information. If your complaint falls within the time frames indicated in our Rules (generally a maximum of six years from awareness of the financial loss), please proceed with lodging your complaint.