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This document provides a summary of significant information regarding Colonial Select Personal Superannuation, including how it operates, associated benefits, risks, fees, and procedures for opening

How to fill out product disclosure statement

How to fill out Product Disclosure Statement

1. Start by reading the introductory section to understand the purpose of the Product Disclosure Statement (PDS).
2. Gather all necessary information regarding the product you are disclosing, including its features, risks, and benefits.
3. Fill in the product details, such as the name, issuer, and type of product.
4. Clearly outline any fees and charges associated with the product.
5. Include relevant risks associated with the product, describing how they might affect the consumer.
6. Summarize the benefits of the product and any terms and conditions that apply.
7. Ensure that all information is presented in plain language for clarity and ease of understanding.
8. Review the PDS for compliance with regulatory standards and accuracy.
9. Provide contact information for further inquiries from consumers.
10. Finalize and distribute the PDS to potential consumers.

Who needs Product Disclosure Statement?

1. Investors looking to understand the details of financial products before making a decision.
2. Consumers purchasing insurance products to know their rights and obligations.
3. Financial advisers who need to inform clients about specific investment options.
4. Individuals comparing different products to ensure they are making an informed choice.
5. Regulatory bodies that require proper disclosure of product information to protect consumers.

People Also Ask about

When should you provide the PDS to the customer?

A product disclosure statement (PDS) is a document that must be provided when offering a financial product.

How often should PDS be reviewed?

All PDS documents include information about the issuer, benefits, risks, costs, return, dispute resolution and cooling off period for the financial product. The requirement to provide a PDS is contained in Part 7.9 of the Corporations Act 2001 (Cth) (CA 2001).

What do you write in a disclosure statement?

A disclosure statement is usually also part of a loan, stating details of the transaction such as the interest rate, fees, the amount borrowed, loan insurance, any prepayment rights, and the borrower's responsibilities.

What is an example of a product disclosure statement?

For example, a PDS for a car insurance policy could explain how the value of your car would be assessed if you had an accident where it could not be repaired, or a home insurance PDS could explain how leaving your door unlocked could affect your chances of being covered if there was a robbery.

What is a PDS in insurance?

A Product Disclosure Statement (PDS) is an important legal document that contains all the information regarding your policy. Your PDS includes information regarding your policies key features, covers, exclusions, claims information and our complaints handling procedures.

When should you provide the PDS to the consumer Western Union?

All PD's must be signed by the immediate supervisor who certifies to the accuracy of the PD. PD's should be reviewed and updated annually.

When should you provide the PDS?

A product disclosure statement (PDS) is a document that must be provided when offering a financial product.

For pdfFiller’s FAQs

What is Product Disclosure Statement?

A Product Disclosure Statement (PDS) is a document that provides information about a financial product, helping consumers understand the product's features, benefits, risks, and costs before making a decision.

Who is required to file Product Disclosure Statement?

Entities that offer financial products, such as insurance companies, banks, or investment firms, are required to file a Product Disclosure Statement.

How to fill out Product Disclosure Statement?

To fill out a Product Disclosure Statement, you must provide clear and concise information about the product, including terms and conditions, costs, risks, and benefits, ensuring it is easy to read and understand for potential clients.

What is the purpose of Product Disclosure Statement?

The purpose of a Product Disclosure Statement is to inform and protect consumers by ensuring they understand the key details of financial products before purchasing, reducing the risk of misleading or uninformed decisions.

What information must be reported on Product Disclosure Statement?

A Product Disclosure Statement must report information such as the product's key features, benefits, risks, costs, any terms and conditions, and how to make a claim or complaint if necessary.