ClearView income protection
Compare income protection policies on offer from ClearView.
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ClearView has been specialising in offering advice-based insurance solutions to Australians for over 20 years. In addition to the Life, TPD, Trauma and Funeral protection options, Clearview offers Income Protection cover both through their adviser team and direct.
|Maximum cover amount||Up to $40,000 per month (up to 75% of monthly income)|
|Age of entry||18 to 60|
|How much can I expect to pay?||For an annual income of $75,000:|
|How do I apply?||With an adviser over the phone|
Based on Clearview LifeSolutions Income Protection Insurance policy. Age of entry varies with the type of premium you choose. Costs are an estimate based on a male, non-smoking office worker and was taken out on October 2020 using Finder's quote engine. Cost is subject to change at anytime.
Information last checked on October 2020. Always consult the Product Disclosure Statement (PDS).
This cover might be suitable if:
- You are after an insurer with strong claims performance.
- You are after a cheaper policy - our research suggests Clearview is on the low end in terms of price for a 35 year old male.
- You want flexible and tailored cover with the help of an adviser.
Don't get this cover if:
- You are over 60
Based on Clearview LifeSolutions Income Protection Insurance policy
|Claims data||Clearview||Industry Average|
|Average claim time (months)||1.40||1.60|
|Claim disputes (per 100,000 lives insured)||16.9||129.9|
We looked at APRA data for claims over 2017-2018. The statistics above reflect 'income protection' claims.
find out more about Clearview Income Protection
ClearView Income Protection provides you with an ongoing monthly benefit payment if you are disabled due to illness or injury. ClearView offers two levels of cover; Income Protection Cover and Income Protection Plus.
While Income Protection Plus provides additional features, more flexibility during the waiting period and less reductions, both forms of cover provide the following built-in benefits;
- Total and Partial Disability Benefit – pays 75% of the first $320,000 of regular annual income, 50% of the next $240,000 and 20% of the balance over a two or five year period
- Flexibility to reduce the two year waiting period - allows you to reduce your waiting period without further medical evidence if your complementary group super income protection cover ceases
- Waiver of Waiting Period for Specific Medical Conditions – waives your waiting period if you are totally disabled due to a specified medical condition
- Indexation Benefit – automatically increases your monthly benefit amount each year in line with the CPI
- Relapse Benefit – waives the waiting period and continues benefit payments if you suffer a relapse within 12 months of returning to work
- Accommodation Benefit – reimbursement of up to $250 a day towards the accommodation costs of a family member to look after you if you are confined to bed
- Medical Professionals Benefit – a lump sum payment for medical professionals unable to perform exposure-prone medical procedures due to contracting HIV or Hepatitis
- Rehabilitation Benefit – reimbursement for equipment costs associated with participating in an approved rehabilitation program
- Waiver of Premium While on Claim – waiver of premium payments while receiving or waiting to receive a disability benefit
- Waiver of Premium if on Parental Leave – waiver of premium for up to 3 months while on maternity leave
- Future Increase Benefit – the ability to increase your monthly benefit amount by up to 15% if your income increases
- Suspending Cover Benefit – the ability to suspend your cover for up to 12 months if you become unemployed, take extended leave or are experiencing financial hardship
- Extended Cover Benefit – the ability to extend your cover to age 70 if you are still covered when you reach age 65
- Death Benefit – a lump sum payment up to a maximum of $60,000 if you die while your cover is in place.
ClearView Income Protection also offers a range of options that allow you to tailor your cover to your particular needs. These include;
- Increasing Claim Option – the option to increase your monthly benefit amount annually in line with inflation while you are receiving a benefit
- Accident Option - a payment of 1/30th of the monthly benefit amount for each day during the waiting period you are totally disabled due to an accident
- Superannuation Contribution Option – payment of up to 100% of your super contributions while you are on a disability benefit
- TPD Lump Sum Option - the choice of receiving a lump sum benefit amount instead of monthly benefit payments if you are severely disabled (this option is free).
There are a number of factors that will determine the premium you pay for your ClearView Income Protection. These include;
- The level of cover and optional extras you choose
- A range of personal factors including your age, sex, smoking status, health, occupation and pastimes
- The waiting period and benefit period you opt for
- Government taxes and charges including stamp duty
- The premium type you select (stepped or level).
The cost of your premium may be reduced if you are eligible for a discount. Situations in which you may be eligible include;
- If you are applying for a large benefit amount
- If you are part of an allowable group discount
- If you are a new customer who receives ClearView’s New Cover Reward
- If you are participating in ClearView’s Health Maintenance Reward Program.
If you need to make a claim under your ClearView Income Protection policy, the conditions of payment include:
- Claims must be made within 90 days of an incident or as soon as reasonably practical after that
- Claims relating to Occupationally Acquired HIV or Hepatitis must be reported within 30 days and supported by tests taken within seven days of an incident
- A fully completed claim form must be sent to ClearView, along with proof of age and any required supporting documentation.
Your claim will then be reviewed and if successful, the benefit will be paid to you the policy holder or, in the case of the death benefit, to your beneficiaries.
There is a maximum and minimum age to be eligible for Total and Partial Disability cover. The minimum age you must be to hold a ClearView Income Protection policy is 18 years of age and you must be gainfully employed for a minimum of 20 hours a week.
The maximum eligibility age is 60 years of age and again, you must be gainfully employed for at least 20 hours a week. A range of policy expiry ages are also available, including 60, 65 and 70 years of age, but the age 70 expiry is only available with the age 70 benefit period.
ClearView Income Protection is subject to conditions and exclusions, as is any form of personal insurance. Circumstances in which a benefit will not be paid include if your death or disability is;
- Self-inflicted or the result of suicide or attempted suicide
- The result of an act of war (whether declared or not)
- Due to normal or uncomplicated pregnancy or childbirth, elective surgery or treatment you voluntarily undergo
- Related to pregnancy, childbirth or miscarriage complications (in which case a three month qualifying period applies).
Other things to be aware of about your ClearView Income Protection Insurance include;
- Cooling off period – you have 30 days from the date you receive your policy or five days after your cover commences to cancel your policy and receive a refund of any premiums you have paid
- Ability to link with other forms of cover – ClearView allows you to link your cover with certain other forms of insurance. While this allows you to reduce the cost of your premiums, all linked cover will be reduced by the benefit amount paid
- Premium structures offered – whether you choose stepped or level premiums will depend on your age and income. Stepped premiums increase each year with your age and are cheaper in early years when you may not have as much disposable income. Level premiums stay the same and are more expensive than stepped, but become more affordable in later life when your income has grown
- Payment frequency options – you have a choice of paying your premiums monthly or annually, however an 8% loading applies to monthly payments to cover administration costs.
If your ready to start comparing Income Protection policies, you can receive a secure quote for ClearView Income Protection by entering your details in the form above. An insurance consultant will contact you and provide you with a quote for cover and explain any of the policy features you are unsure of. If you are interested in applying for cover, the consultant will provide you with the necessary assistance to submit your application and get cover in place.Back to top
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