Commonwealth Consolidated Acts

INSURANCE CONTRACTS ACT 1984 - SECT 48AA

             (1)  Where a person who is not a party to a contract of life insurance entered into in connection with an RSA, where the owner of the policy is an RSA provider, is specified or referred to in the contract, whether by name or otherwise, as a person to whom the insurance cover provided by the contract extends, that person has a right to recover a benefit from the insurer in accordance with the contract notwithstanding that he or she is not a party to the contract.

             (2)  Subject to the contract, a person who has such a right:

                     (a)  has, in relation to his or her claim, the same obligations to the insurer as he or she would have if he or she were the insured; and

                     (b)  may discharge the insured's obligations in relation to the payment of a benefit.

             (3)  The insurer has the same defences to an action under this section as he or she would have in an action by the insured.