ClearView Life Insurance Superannuation Rollover

What is the ClearView LifeSolutions Super Rollover?

All employers will have their own choice of super fund, which you can opt for, and you may be provided with a default life insurance cover that is available at a discounted rate. Alternatively, you also have the choice to stay with your nominated super fund.

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Coverage is the amount of money that you will be paid in the event of a claim. An insurance consultant can help you determine an appropriate amount. Calculator
Provides a lump sum payment if you become totally and permanently disabled and are unable to return to work.
Provides a lump sum payment if you suffer a serious medical condition. Cover can be taken out for 40-60 medical conditions depending on the policy you choose.
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How does it work?

If you are looking to take advantage of one of comprehensive ClearView LifeSolutions Super plans, there are some key components ClearView LifeSolutions Super Rollover that you should be aware of prior to application:

  • ClearView LifeSolutions Super Rollover does not accept any employer or personal contributions and is restricted to only allow rollovers from other complying super funds.
  • If you want to pay your life insurance premiums with contributions from direct debits, ClearView LifeSolutions Super Rollover will allow you to do so.
  • You are not allowed to use your ClearView Plan balance as a guarantee against a loan.

It is essential to read the Product Disclosure Statement (PDS) and Additional Information PDS thoroughly for more information on ClearView LifeSolutions Super Rollover.

Why consider it an investment?

With ClearView LifeSolutions Super Rollover, not only will your super balance be rolled over to fund your life insurance premiums, but it will also provide optional unitised investment in cash and short-term securities through ClearView Life Super Cash Fund. It is a low-risk investment strategy that provides high security for investors who are looking for a one-year turnaround on investment returns.

What are some more advantages of ClearView LifeSolutions Super Rollover?

  • Access to ClearView LifeSolutions Super life insurance plans: You can benefit from the comprehensive range of features and benefits of ClearView LifeSolutions Life, TPD and Income Protection Cover, without having to stretch your monthly household budget as it is paid through the balance in your ClearView Plan.
  • Option to invest your rollover funds: You have the option to invest your rollover fund in a low risk life investment policy.
  • Small management fee: There is no entry or exit fees, contribution or withdrawal fees for your investments on your ClearView Plan account. You only need to pay a small management fee of 1.5% p.a. as part of the cost in managing your investment.
  • No tax on contributions: As ClearView LifeSolutions Super Rollover only accepts rollovers from a complying super fund, no contributions tax is applicable.
  • Tax benefit on superannuation rollover: When you fund your premiums for ClearView LifeSolutions Super insurance plans via a rollover, you will benefit from a 15% tax deduction on the premiums.
  • 30-day cooling-off period: You can cancel your membership within 30 days of you receiving confirmation on your investment or on the fifth day of becoming member if you are not satisfied with your policy.

ClearView LifeSolutions Super Rollover gives you the flexibility in managing your life insurance and premium payments in a way that suit your current needs and future goals. The tax benefits and ability to reap rewards through investment make this a great cover option for many individuals.

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William Eve

Will is a personal finance writer for specialising in content on insurance. While he cannot give personal advice to clients, Will enjoys explaining the intricacies of different types of protective cover to help individuals and businesses find affordable cover that won't leave them underinsured.

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