Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies in relation to a contract of life insurance if:
(a) the contract is entered into in connection with an RSA; and
(b) the owner of the policy is an RSA provider.
(1A) A third party beneficiary under the contract has a right to recover a benefit from the insurer in accordance with the contract even though the third party beneficiary is not a party to the contract.
(2) Subject to the contract, the third party beneficiary:
(a) has, in relation to the third party beneficiary's claim, the same obligations to the insurer as the third party beneficiary would have if the third party beneficiary 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 the insurer would have in an action by the insured, including, but not limited to, defences relating to the conduct of the insured (whether the conduct occurred before or after the contract was entered into).