COMMONWEALTH OF AUSTRALIA
Defence Service Homes Act 1918
VARIATION TO THE STATEMENT OF CONDITIONS UNDER SUBSECTION 38A(3)
 I, Warren Snowdon, Minister for Veterans’ Affairs, by this notice to the Secretary of the Department of Veterans’ Affairs, vary the Statement of Conditions dated 23 January 1996 (as varied) in accordance with the Schedule.
 This instrument is taken to have commenced on 1 July 2011.
Dated this eighth day of February 2012
Minister for Veterans’ Affairs
1. Page 4 - About this insurance
omit: “Veterans’ Entitlement Act 1986”, substitute: “Veterans’ Entitlements Act 1986”.
add the words “the Defence Home Ownership Assistance Scheme Act 2008” after the words the “Veterans’ Entitlement Act 1986” [as varied by this instrument].
2. Page 6
In the paragraph “When your insurance starts”
Delete the words
“This is the amount of your premium and government charges”
And substitute the words
“The total premium will be shown on your certificate. It is the amount we charge you for this Insurance Policy and it includes the amount, which we have calculated will cover the risk plus any taxes, and government charges. If you pay by monthly instalments, the premium means the total of the instalments you must pay for the full policy period.”
3. After the paragraph “When your insurance starts”
Add the following text
How you can pay your premium
You can pay your premium
§ in one annual payment
§ in monthly instalments by direct debit from your credit card or from your account with your financial provider (if we offer this option to you).
Paying your annual premium
If you do not pay your premium by the starting date for the policy,
§ if a financial institution is named under “Other interested parties” on your certificate, we may ask it to pay your premium, or
§ if you have not mortgaged the home or used it to get a loan, we may cancel your insurance.
Paying your instalment premium
If you are paying your premium by instalments, we will deduct the instalments each month on the day of the month that you nominate as the payment date.
If you are renewing your policy and you paid your previous policy by instalments then we will continue to deduct the instalments for the renewed policy on the day you previously nominated as the payment date, unless you tell us otherwise.
Details of your instalments are shown on your Certificate of Insurance.
What happens if your instalment is unpaid?
Your policy will be cancelled after three consecutive unpaid instalments. We will send you an advice that the policy is cancelled and the effective date.
We may refuse a claim on your policy that occurs more than 30 days after the due date of an unpaid instalment.
Changing your instalment payments
If you wish to change or cancel your direct debit arrangements you need to advise us at least seven days before the next instalment is due.
If you want the policy to remain in force but wish to cancel your direct debit arrangements we will immediately deduct all remaining unpaid instalments from the account or credit card you previously nominated for monthly instalment deductions.
The Cost of this Insurance policy
When calculating your premium we take a range of rating factors into account. These factors and the degree, to which they affect your premium, will depend upon the information you provide us.
The following factors may have a significant impact on the calculation of your premium:
§ the location of your home
§ the sum insured
§ your past claims experience
§ the construction of your home
§ whether your home is strata title and subject to Body Corporate Insurance.
4. Page 9 - Cancelling your insurance
Delete the paragraph “ You may cancel your insurance contract at any time by telling us in writing that you want to cancel it.”
And replace by the paragraph “You may cancel your insurance contract at any time by telling us that you want to cancel it”
5. After the words “then return the balance of premium to you.”
Insert the following text
“If you are currently paying your premium by monthly instalments then you must pay us any monthly instalments that are due but unpaid. You authorise us to deduct these amounts by direct debit from the account or credit card you previously nominated for monthly instalment deductions.”