Commonwealth Consolidated Acts

LIFE INSURANCE ACT 1995 - SECT 199

             (1)  A person who is at least 10 but has not reached 16 may, with the written consent of a parent or a person who stands in the place of a parent:

                     (a)  enter into a policy (including a life policy on his or her own life or on another life); or

                     (b)  take an assignment of a policy.

             (2)  A person who has reached 16 but has not reached 18 has the same capacity to exercise rights or powers in relation to a policy of which he or she is the owner as a person who has reached 18.