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AMP Insurance Class Action

If you obtained an AMP Flexible Lifetime Policy through AMP Financial Planning, Charter Financial Planning or Hillross Financial Services, you may have been wrongfully overcharged.

Shine Lawyers has launched a class action on behalf of AMP Flexible Lifetime Policy holders. We believe they should be fairly compensated.

What is the AMP Insurance Class Action about?

Shine Lawyers has filed a class action on behalf of people who obtained an AMP Flexible Lifetime policy through financial advisors appointed by AMP Financial Planning (AMPFP) and Hillross Financial Services, and is investigating a similar claim against Charter Financial Planning (Charter). The AMP Flexible Lifetime Policy includes death, TPD, trauma, income protection and business protection insurance.

It is alleged that financial advisers appointed by AMPFP, Charter and Hillross failed to inform their clients that they could obtain substantially similar or better insurance policies from alternative insurers for lower premiums. It is alleged these financial advisers were incentivised through commissions and other financial and non-financial benefits to recommend insurance with their related party AMP Life Limited, resulting in their clients paying higher premiums.

It is further alleged that these financial advisers did not act in their clients’ best interests, and that their clients should be compensated for the excess premiums they paid as a result. It is estimated that up to 100,000 clients were impacted by this unethical financial advice.

This class action follows a recent landmark Federal Court judgment where AMP was ordered to pay a $5,175,000 penalty for “insurance churn” engaged in by AMP’s financial planners which the Court described as “morally reprehensible” and a breach of AMP’s obligations to its clients.

Can I join the AMP Insurance Class Action?

You may be eligible for compensation as a member of the AMP Insurance Class Action if:

You obtained an AMP Flexible Lifetime Policy which includes death, TPD, trauma, income protection and business protection insurance through the following licensees and their authorised representatives:
  • AMP Financial Planning
  • Charter Financial Planning
  • Hillross Financial Services
Please note that financial advisers providing AMP Flexible Lifetime policies may have operated under different names to the above. If you are not certain whether your adviser was a part of one of the above licensees, please either register or contact us so that a member of our team can help you to verify whether your policy is eligible.
Your policy is described as:
  • Flexible Lifetime – Protection*
  • Flexible Lifetime – Super*
  • AMP Flexible Super – Flexible Protection; and*
  • AMP Flexible Super – Super Protection*
*If you have an AMP insurance policy that includes the word Flexible or held such a policy in the period from 1 September 2014 to the present date, please register or contact us and we can confirm if your policy is eligible.

If you answered yes to the above, you may be entitled to compensation, and you are encouraged to register for the AMP Insurance Class Action.

How to register for the AMP Insurance Class Action

Sign up now

To register for the AMP Insurance Class Action on a no-cost, no-obligation basis, please click the 'Register Now' button below to fill out the registration form.

Register for the Class Action

The registration form will load in a new window and will take no more than 3 minutes. Please ensure pop-ups are not blocked.
If you have any questions or require any assistance in registering for the class action, please contact our AMP Insurance Class Action team on 1800 325 172.

Who is Shine Lawyers’ Class Action team?

Shine Lawyers’ Class Action team includes some of the firm’s most experienced solicitors and support staff. The team includes:

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