Clearview Life Insurance
Clearview Life Insurance: Get cover from a brand with the highest level of customer satisfaction during claim time.
With over 20 years experience, Clearview has grown to become one of the leading insurance companies on the Australian market. Clearview offers a comprehensive range of investment, superannuation, retirement and life and income protection options to ensure you and your family's financial future is protected.
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|Maximum cover amount||No set maximum, but it must be reasonable for your financial position and circumstances|
|Age of entry||18 to 75 for stepped premiums, 18 to 60 for level premiums and 30 to 60 for hybrid premiums.|
|How do I apply?||With an adviser over the phone|
Based on the Life Insurance plan. Age of entry varies with the type of premium you choose.
Note: Conditions apply, always consult the Product Disclosure Statement (PDS)
- Highest Level of Client Satisfaction across 'claim customers' - 2018 Beddoes Institute's Industry Claims Journey Study Report
- Overall Satisfaction, Underwriting Process, Call Centre - 2017 Winner, Investment Trends
'Claims customers' refers to customers who have had their claim paid across either Life, TPD, Trauma or Income Protection Insurance.
ClearView is a combined financial services provider with a focus on building wealth and helping Australians reach their long term financial goals. The life insurance solutions are designed to help protect your wealth, and your family. In short:
- Clearview started out as NRMA Life in 1976, and has been listed as ClearView since 2010.
- Policies are often sold through a financial advisor to help find a match for your financial situation
- The wide range of cover types and policy options available can make it easier to tailor your cover in many ways, for both affordability and effectiveness.
Depending on your insurance needs, you can choose between the following products:
This policy will pay a lump-sum benefit amount in the event of your death (accident or any other cause) or if you're diagnosed as terminally ill with less than 12 months to live. You also have an extra Motor Vehicle Accident benefit built into the contract. This policy can be purchased directly or through a Clearview financial adviser.
The Clearview Income Protection pays an ongoing monthly benefit of up to 75% of your pre-disability income in the event you can't work as a result of sickness or injury. This benefit is paid monthly.
This benefit allows you to maintain a certain quality of life when suffering from a specific illness or injury as defined by the terms of the policy. Upon diagnosis, you will receive a lump-sum benefit that can be used to cover the cost of treatment, as well as pay off debt or finance an extended leave from work.
Accidental Death Cover
A lump sum benefit amount will be paid out to your beneficiaries in the event of your death from an accident. The maximum pay-out for this benefit is $1 million ($500,000 from age 56).
In the event of death or diagnosis of terminal illness, this benefit pays out a lump-sum to cover funeral costs. You can choose the level of cover, from $5000 to up to $50,000 ($10,000 from age 54). Customers with policies dating back 10 years are eligible for a 10% discount. Your cover amount increases every year to keep up with inflation.
What types of exclusions exist?
For ClearView life insurance there is a 13 month exclusion for suicide and self inflicted harm, which applies after taking out a new policy or reinstating cover. If you have increased cover, this will also apply to the increased amount for 13 months.
With other forms of death cover, such as death cover with trauma insurance, there is a blanket exclusion for deaths caused directly or indirectly by self inflicted acts, at any time. Similarly, these will typically have not pay out for deaths resulting from participating in any criminal activity, being under the influence of alcohol or taking any drugs other than as prescribed.
Specific exclusions may also apply to your policy, such as for specific high risk pastimes, and you'll have a chance to agree to them before taking out cover.Back to top
The amount you pay in premiums is determined by the following factors:
- The type of cover you choose
- The amount for which you'd like to be insured
- Your age
- Extra options added to upgrade your policy
- Personal factors about your health
- Habits and lifestyle.
- Your premium will also include the relevant additional charges and government taxes.
Depending on your policy and cover type, your premium structure might be level, stepped or hybrid.
- Level: Your premiums will not increase based on your current age.
- Stepped: Your premiums will increase based on current age.
- Hybrid: Available between age 30 and 60 with Life, TPD or Trauma cover, and between age 30 and 55 with select income protection policies. Your premiums start off level for the first 7 years, and then convert to stepped.
Here are a few questions and answers about Clearviews' policies.
Q. Do I need to go through a Clearview Financial adviser?
- A. Not necessarily. You have the option to buy your policies directly, and as long as you're a permanent Australian resident between 18 and 65 years of age, acceptance is guaranteed for most benefit options. However, going through a financial adviser means you're able to tailor your policy with the benefits most relevant to your personal situation.
Q. When applying for a policy, do I need to submit blood samples?
- A. No. You can apply for Clearview policies online without having to take blood tests. Acceptance is guaranteed when applying for Accidental Death, Injury Cash and Funeral Insurance policies.
Q. Who is eligible for Clearview policies?
- A. Eligibility varies depending on the policy and the amount of cover you wish to purchase, but in most cases, any permanent Australian resident between 16 and 69 years old can apply for cover.
Q. What is the Indexation benefit?
- A. This means that your benefit amount will increase automatically by the greater of either 5% or the increase in the Consumer Price Index (CPI). In short, your total benefit amount increases every year so that the value of the policy isn't affected by increases in inflation.
Q. How do I make sure my policy stays up-to-date?
- A. As long as it doesn't increase your premiums, any product enhancements will automatically be applied to your policy.
Q. Who can be covered under the terms of my policy?
- A. As a policy owner, you have your own life covered, or the life of a family member or business partner. You can have up to five people insured on one policy, except in the case where your policy is held under Clearview LifeSolutions Super option.
Q. How can I structure my cover?
- A. You can apply for standalone cover that operates independently from other cover you might have. In the event of a pay-out from the standalone cover, your other benefits are not affected. All cover options can be purchased as standalone cover except Child cover and Parent cover.
Q. Can I link my cover?
- A. You have the option of Linked and Flexi Link cover. With the Linked option, you pay a lower premium than you would for a standalone option, but all cover is reduced when a benefit amount is paid out. Flexi-Link allows you to link two policies and name different policy owners.
Q. What is superannuation?
- A. Holding some – or all – of your policies in superannuation can be a good way to save on tax and finance your instalments from superannuation. You can choose to manage the super yourself or go through the Clearview LifeSolutions Super where your Life, Accidental Death, Total and Permanent Disability, Accidental Total and Permanent Disability, Income Protection, Income Protection Plus and Accidental Income Protection Cover are held in the Clearview Plan.
If you need to make a claim, make sure to give notice of your claim within 90 days of the insured event. Have the following ready to ensure your claim is processed quickly and efficiently:
- The fully-completed claims form
- The policy certificate
- Proof of age
- Any other documentation or evidence the insurer might require
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