This Policy outlines LB's obligation to manage and protect the personal information we hold about individuals. "Personal information" is information or an opinion relating to an individual, contained in a record, which can be used to identify that individual. "Sensitive information" includes information relating to an individual's racial or ethnic origin, political opinions, religion, trade union or other professional or trade association membership, sexual references and criminal record, and also includes health information about an individual.
National Privacy Principles
LB is bound by the National Privacy Principles.
What type of information does LBhold?
The type of information we hold varies depending on the type of product or service we provide to you. For example, LB will hold different information about you if you have a life insurance policy than we will hold if you have a managed investment.
In general, LB may hold the following personal information:
- name and address
- date of birth
- contact details, which may include your telephone number
- your gender
How does LB collect this information?
We generally collect personal information directly from you. For example, you may deal with us on the phone, send us correspondence (by letter, fax or email) or contact us in person. Also, we will collect personal information from forms filled out by you, interviews, business documents and from other people.
If the personal information that we request from you is not provided, we may not be able to process an individual's application to receive insurance cover, or interest in an investment, or provide individuals with the benefit of our services, or meet an individual's needs appropriately.
Why does LB collect personal information?
LB collects personal information in order to:
- provide you with our advice and our services regarding financial products and financial services;
- ensure that your needs are both acknowledged and met;
- manage the internal accounting and administration requirements of our business;
- comply with our legal obligations; and
- to help us manage and enhance our services.
How does LB use and disclose this information?
"Use" of personal information means use within LB, and "disclosure" of personal information means providing the information to persons outside of LB.
We use personal information for the primary purposes for which it is collected (as set out above), for reasonably expected secondary purposes which are related to the primary purposes, and in other circumstances authorised by the Privacy Act and the NPPs.
Sensitive information will be used and disclosed only for the purpose for which it was provided or a directly related secondary purpose, unless you agree otherwise, or where certain other limited circumstances apply (eg, where required by law).
We do not disclose personal information we collect to others for the purpose of allowing them to direct market their products and services. We do not use or disclose sensitive information for direct marketing purposes.
Sometimes we engage other people to perform services for us, which may involve that person handling personal information held by us. We always prohibit that person from using or disclosing personal information about you except in relation to the specific purpose for which we supply it.
To whom might we disclose personal information?
We may disclose your personal information to:
- financial product providers to assist in insurance and investment applications;
- consultants we engage;
- organisations involved in a transfer or sale of all or part of our assets or business (including accounts and trade receivables);
- organisations involved in managing our funding functions;
- regulatory authorities, if required by law; and
- anyone else to whom you authorise us to disclose it.
Management of personal information
The NPPs require us to take all reasonable steps to protect the security of personal information. Our personnel are bound by a confidentiality agreement to respect the confidentiality of personal information and the privacy of individuals.
LB takes reasonable steps to protect personal information from misuse and loss and from unauthorised access, modification or disclosure, by use of physical security and restricted access to records.
How does LB handle a request for access to personal information?
Under the National Privacy Principles you are entitled to access the information we hold about you. Where you are entitled to access, the time we require to give you access will depend on the type of information requested. If we can, we will answer your question immediately. We will also try to answer you in the same way that you ask, for example, if you telephone to ask for the information we will, if practicable, give you that information over the telephone. We will generally respond to a written request in writing.
Sometimes, we will ask that you put your request in writing, for example, where you want copies of material or access to older information or files which are not current or it is necessary for us to retain a record of your request.
We may also ask you to identify yourself to our satisfaction.
In some circumstances, we may charge a fee for giving you access, which will vary but will be based on our costs (internal and external) in locating the information and the form of access you require. If we propose to charge a fee for giving access, we will give you an estimate of the fee so you can confirm that you still want us to give you access to the information. We do not impose any charge for lodging a request for access.
If we are entitled under the National Privacy Principles to refuse to give you access, we will tell you and provide reasons.
LB uses pixels, or transparent GIF files, to help manage online advertising. These GIF files are provided by our ad management partner, DoubleClick. These files enable DoubleClick to recognize a unique cookie on your Web browser, which in turn enables us to learn which advertisements bring users to our website. The cookie was placed by us, or by another advertiser who works with DoubleClick. With both cookies and Spotlight technology, the information that we collect and share is anonymous and not personally identifiable. It does not contain your name, address, telephone number, or email address. For more information about DoubleClick, including information about how to opt out of these technologies, go to http://www.doubleclick.net/us/corporate/privacy.
We will not use identifiers assigned by the Government, such as a Tax File Number, or a Medicare number, for our own file recording services.
Sending information overseas
We will not send personal information to recipients outside of Australia without obtaining the individual's consent (which may be implied) or otherwise complying with the NPPs.
What if some of the information LB holds is wrong?
Please tell us. We want our records to be accurate, complete and up to date. Unless we disagree with you about the accuracy or completeness of a record, we will generally correct it on request, (or suggest alternative arrangements for updating our records). If we disagree with you, we will give you our reasons.
How do I make further enquiries or complain about a breach of privacy?
If you require more information about the way LB manages personal information or wish to make a complaint about a breach of your privacy, please contact LB (see below for details) and ask to speak to the LB Professional Standards Manager, who is responsible for privacy issues.
How can I contact LB?
Professional Standards Manager on 1300 20 40 50
Write to Us
The Professional Standards Manager Lifebroker
66-76 Moray Street
Southbank, VIC, 3006