Terms of Service
General Advice Warning
All information on this website is general in nature and does not take into account your personal needs and objectives. You should not take any action without first seeking processional advice from a suitably qualified person.
If you receive an instant quote via our website or purchase a policy online, you are doing so of your own accord and not based on any personal advice received from Medical Insure.
We take your privacy seriously and do all that we can to protect your data.
We will not sell your data to anyone else, however as brokers we are required to provide information to insurance companies and underwriting agencies in order for them to provide quotes and policies.
If you do not provide us with information we request, we may be unable to accept your request for our services.
We take all reasonable steps to protect the information we hold from wrongful use or disclosure. Only authorised staff can access information, and they are bound by duties of confidentiality.
You have a right to access to personal information held about you, and to correct the information if it is incorrect. We only accept written requests for access to information. There are some situations in which we may refuse to give access to information. If we deny access, we will explain the reason for our decision.
Quote requests and enquiries for General Insurance will be dealt with by Medical Insure.
Acquire Insurance Brokers Pty Ltd T/A Medical Insure is a Corporate Authorised Representative of United Insurance Group, Australian Financial Services Licence number 327131.
All Policies taken out on Medical Insure are based on a 12 month Policy period. Cancellation before this period will incur a Cancellation Fee of $50 or the remaining commission for the Policy Period whichever is the lesser. Medical Insure receive 15% commission on all Public Liability Policies placed via our online platform. Medical Insure charge either a $50 or $100 Broker Fee on all Policies which is non-refundable.
Cancellation of Policies taken out on our Monthly Payment Option will be subject to Principal Finance’s terms and conditions and refund policies.
Principal Finance Terms and Conditions
- Advance: If we accept your loan application, we will advance the loan to you by way of paying it, at our complete discretion, either to the insurance broker or intermediary named in the loan application (“intermediary”), or to the insurer(s) (“insurer”) under the policy or policies specified in the loan application or in any attached list (“policy or policies”), or to an agent or representative of the insurer. You irrevocably direct and authorise us to so advance the loan on your behalf, in complete discharge of our obligation to pay the loan funds to you. You acknowledge that the sole and mandatory purpose of the loan is for it to fund the premium(s) under the policies, by way of a single upfront payment of such premiums, and that the intermediary and insurer are not our agents and that we will have no liability for their acts or omissions. We may pay commission for persons to introduce your credit business to us.
- Payments: You must make the combined interest and principal repayments referred to in the loan application as set out in the loan application. Interest is payable by you on the loan at the interest rate given, and by way of such combined interest and principal repayments. Time is of the essence in respect of payment obligations. If the law permits you to terminate this contract early, you may, but you must pay us an early termination fee of $40.00 in addition to other allowable amounts. If this contract is terminated early, with our prior written consent or in accordance with your legal rights or by us pursuant to clause 5, then all amounts advanced by us under this contract in accordance with clause 1 or otherwise are to be immediately repaid to us and you will continue to be liable to us for such amounts and interest on such amounts until such amounts and interest are recovered in full. You must also pay us all enforcement, collection or recovery costs we incur in connection with this contract, on an indemnity basis.
- Security: As consideration for us making the loan, you hereby assign all of your rights and interest in and in connection with the policies, including the right to any claim or proceeds or premium refund payable under the policies and all of your statutory rights and entitlements in connection with the policies, including under Part 7.6 of the Corporations Act(as amended from time to time), as security for the payment to us of all money payable by you to us under this contract. You will upon our request promptly do all such things (if any) deemed necessary by us to perfect or give full effect to such assignment.
- Authority: You hereby irrevocably authorise and instruct the insurers
- to cancel the policies at our request
- to pay any refund(s) then due to us
- not to refund any premium under any policy to anybody except us
- to pay us up to the whole balance of the loan out of any money mentioned in clause 7(d).
- Default: If –
- you make any misleading statement to us in connection with the loan or this contract
- you fail to pay any repayment on the due date
- you fail to perform or observe any other term of this contract
- you fail to perform or observe any term of any policy
- any of the policies are cancelled by the insurers or become voidable at the option of the insurers
- you become an externally-administered body corporate as defined in the Corporations Act
- you commit an act of bankruptcy as defined in the Bankruptcy Act
- someone gets a court judgment against you or
- you cease to carry on business
- then the principal and interest balance of the loan is immediately due and payable. We may then cancel the policies and/or take any premium refund towards payment of such balance.
- Attorney: In the event of any default mentioned in the preceding clause, you irrevocably appoint us, and each of our directors from time to time, as your attorney with full power and authority, to cancel the policies, and to obtain and keep (and issue a receipt for) any refund due upon such cancellation, and to do such other things as we deem reasonably necessary to protect our interest in the policies. This power of attorney continues even if any policy is cancelled, expired or otherwise at an end.
- Other terms:
- If we ask, you must give us a copy of the policies.
- You must notify us in writing immediately if you make any claim under any policy.
- Unless we previously consent in writing –
- you must not assign, cancel, vary or otherwise deal with any policy.
- you must not do, or allow to be done, or omit to do, anything which might prejudice our security over any policy, or prevent cancellation of any such policy by us, or reduce the amount payable under any policy.
- you must not assign any of your rights under this contract.
- We may assign, transfer or novate our obligations, rights or interest under this contract without your consent. Further, in that case, the Auto Rollover Authorisation extends to authorizing the insurance broker or intermediary to apply on your behalf to our assignee for funding of future policy premiums.
- If money is payable to you because any policy is cancelled, or as a result of a claim under any policy, and you are at that time indebted to us under this contract, then such money is received and held by you on trust for us and must be immediately paid to us up to the extent necessary to discharge in full the debt owing to us under this contract.
- You warrant that there is no other party with any interest in any policy except as has been disclosed in writing to us prior to any acceptance of your loan application by us.
- If there is more than one of you, then you are each jointly and severally liable under this contract.
- If you are identified as a trustee in the loan application, or are not so identified but your primary function is to act as trustee of a trust, then you must at our request disclose full details of the trust to us and you acknowledge that you enter into this contract jointly and severally in your own right and as trustee for such trust.
- The law of South Australia applies to this contract. Any legal action concerning this loan contract must be brought in South Australian courts.
- You authorise us to debit your bank account or credit card nominated below with any shortfall in payment or remaining amount owing by you, or any other amount due and owing by you to us under this contract.
- If the loan (not including interest and fees) is less than $10,000.00, I/we authorise our insurance broker or intermediary named in the loan application to sign this loan application on my/our behalf.
- You consent to any notice or information being given to you by us by way of electronic communication as defined in the various Electronic Transactions Acts of the States, Territories and the Commonwealth. Further, both we, and you, also consent to the following method to identify you and signify your request in terms of this document (so as to constitute your signature to this document under the Electronic Transactions Acts): the insertion of your name in the relevant space provided above, and the posting, faxing, emailing or on-line transmission of this document to us by you, your broker, or some other person acting on your behalf.
- We may charge a email/letter fee of $15 if you default in payment and we then write to you to warn that we intend to cancel your insurance, a reprocessing fee of $30 if we need to reprocess a payment due to a payment default by you, and a cancellation fee of $20 to cover our administrative costs associated with any cancellation of this contract.
- GST: If any GST is payable in connection with this contract, you must pay such GST upon the provision of a tax invoice by us.
- Future funding: If we make a loan to you to fund payment of a future premium under the policies or for any other insurance policy of yours, including where your agent or intermediary makes or signs the loan application on your behalf, then all the terms and conditions contained in this document extend and apply to such other loan(s), in addition to the terms set out in the loan application for such other loan(s).
Principal Finance Refund Policy
Applicants are advised to carefully consider their intention to enter into this arrangement to pay by monthly instalments.
You will be eligible for a full refund of your instalment(s) if:
- You exercise a cooling off provision in accordance with a Product Disclose Statement (PDS) or other document provided to you by your advisor; or
- Principal Finance does not accept your application and you have not used the application to derive a benefit.
Any request for a refund from Principal Finance must be in writing to the address shown above and is to include the number shown in the top right hand corner of your application.