Review ClearView Life Insurance
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What Life Insurance Does ClearView Offer?
ClearView ClearChoice provides personal and business insurance and allows multiple types of cover to be held under one policy or linked across separate policies. Eligible policies can also be linked between cover held inside and outside superannuation.
| Cover type | What it provides |
|---|---|
| Life Cover | A lump sum if you die or are diagnosed as terminally ill and meet the policy requirements. |
| TPD Cover | A lump sum if you become totally and permanently disabled and meet the applicable TPD definition. |
| Trauma Cover | A lump sum if you are diagnosed with a specified trauma condition and meet the policy requirements. |
| Income Protection | Monthly benefits if sickness or injury leaves you disabled and you meet the applicable policy requirements. |
ClearChoice policies also share several features, including worldwide cover, automatic CPI indexation and the ability to apply for certain increases following eligible personal or business events without providing further medical information.
Cover is subject to exclusions and limitations set out in the PDS, including circumstances such as self-inflicted acts within specified periods after cover starts, refer to the PDS for full details.
ClearView Life Cover
ClearView Life Cover pays a lump sum if you die or are diagnosed as terminally ill and meet the applicable policy definition. The payment could be used to help repay a mortgage or other debts, provide financial support for dependants, or assist with estate planning or business succession.
ClearView defines terminal illness as an incurable sickness where two medical practitioners certify that death is medically expected within 24 months while following relevant standard treatment protocols. At least one of those practitioners must be an appropriate medical specialist approved by ClearView.
- Entry age: From age 18, with a maximum entry age of 75 for variable age-stepped premiums or 55 for variable premiums
- Expiry age: 99
- Minimum cover: $50,000
- Maximum cover: $20 million across all Life and Accidental Death Cover held with ClearView
- Premium options: Variable age-stepped or variable premium to age 65
- Available through super: Yes
ClearView TPD Cover
ClearView Total and Permanent Disability Cover pays a lump sum if sickness or injury leaves you totally and permanently disabled and you meet the applicable policy definition. The benefit could help with expenses such as mortgage repayments, ongoing living costs, full-time care or modifications to your home.
ClearView offers several TPD options, so the way a claim is assessed depends on the definition applying to your policy.
- Entry age: From age 18, up to age 60 for variable age-stepped premiums or 55 for variable premiums
- Expiry age: 70
- Types available: Any Occupation TPD, Own Occupation TPD, TPD Super Solutions and Non-Occupational TPD
- Minimum cover: $50,000
- Maximum cover: Up to $5 million for business-purpose cover, or up to $3 million for personal-purpose cover, with sub-limits varying by TPD definition. Cover amounts reduce to a $3 million aggregate cap from the policy anniversary after age 65.
- Available through super: Yes, although Own Occupation TPD is not available inside super
For Own Occupation or Any Occupation TPD, you must be gainfully employed and working for at least 20 hours per week when applying. From the policy anniversary immediately after age 65, the TPD definition changes to the Non-Occupational TPD definition.
ClearView Trauma Cover
ClearView Trauma Cover pays a lump sum if you are diagnosed with a specified trauma condition and survive for 14 days from the date of diagnosis. It can provide money to help with out-of-pocket medical costs, reduced income or other expenses while recovering.
- Entry age: From age 18, up to age 60 for variable age-stepped premiums or 55 for variable premiums
- Expiry age: 70
- Benefit types: Trauma Standard or Trauma Severe Events
- Minimum cover: $50,000
- Maximum cover: $3 million across all Trauma Cover with ClearView and other insurers, with a $2 million limit for Trauma Standard and $3 million for Trauma Severe Events
- Available through super: No
ClearView Income Protection
ClearView Income Protection is designed to provide monthly benefits if sickness or injury leaves you disabled and you meet the applicable policy requirements. Instead of providing one lump sum, the Income Support Benefit can replace a portion of your earnings during an eligible period of disability.
ClearView offers three benefit types:
- Income Protection (IP60): Allows you to insure up to 60% of pre-disability earnings.
- Income Protection Flex (IP70 reducing): Allows up to 70% initially, with the maximum benefit reducing after the first 24 months following the end of the waiting period.
- Income Protection Flex (IP70): Allows up to 70% of pre-disability earnings until cover ceases, subject to the applicable limits and benefit calculation.
- Entry age: From age 18, up to age 60 for variable age-stepped premiums or 55 for variable premiums
- Expiry age: 65
- Employment requirement: Gainfully employed for at least 20 hours per week
- Minimum monthly benefit: $1,500, including any superannuation contributions
- Maximum monthly benefit: $30,000, including any superannuation contributions, across eligible income protection and accidental income protection cover held with ClearView or other insurers.
- Available through super: Yes
The maximum monthly benefit is also subject to income-based limits. For IP70 and IP70 reducing, ClearView applies 70% to the first $300,000 of regular annual income and 60% to the next $250,000.
How Much Does ClearView Life Insurance Cost?
There is no single ClearView life insurance price because premiums depend on the cover and person being insured.
ClearView considers factors including the type and amount of cover, optional benefits, premium type, payment frequency, combination of covers and personal factors such as your age, sex, smoking status, health, occupation and pastimes. Waiting and benefit periods can also affect Income Protection premiums.
ClearView offers two main premium structures for eligible cover. Variable age-stepped premiums are recalculated each year and generally increase as you get older, while variable premiums do not increase due to age but can still change for other reasons. Variable premiums convert to variable age-stepped premiums after age 65 where the policy continues beyond that point.
Neither structure guarantees that premiums will remain unchanged. ClearView can review premium rates for defined groups of policyholders and must provide at least 30 days’ written notice of a premium rate change.
How to Apply for ClearView Life Insurance
When you apply for ClearView life insurance, ClearView assesses the information provided to determine whether it can offer the requested cover and on what terms. Depending on the application, additional medical, occupational or financial information may be required.
The premium initially quoted is indicative. The final premium can differ if, for example, you have a birthday before cover starts or ClearView offers cover on varied terms following assessment.
ClearView ClearChoice and ClearChoice Super are only available to people who have received the PDS and Policy Document in Australia.
Is ClearView a Good Life Insurance Company?
Whether ClearView is an appropriate insurer for you depends on the type and amount of cover you’re looking for and how its policy compares with other options available to you.
ClearView ClearChoice provides a broad range of Life, TPD, Trauma and Income Protection options, including different ways to structure eligible cover inside and outside super. However, insurers can differ in their premiums, medical definitions, eligibility requirements, exclusions, benefit limits and policy features, so ClearView life insurance reviews shouldn’t be the only factor you consider.
Frequently Asked Questions and Answers
Who owns ClearView Life Insurance?
ClearView ClearChoice is issued by ClearView Life Assurance Limited, an Australian life insurance company listed on the Australian Securities Exchange. ClearView ClearChoice Super is issued by HTFS Nominees Pty Limited as trustee of the HUB24 Super Fund, with ClearView responsible for its day-to-day management and administration.Where can I log in to my ClearView account?
Existing ClearView customers should use ClearView’s current customer portal or the access details provided with their policy. If your policy was arranged through Life Insurance Direct and you need assistance servicing it, you can also contact our team.How do I cancel ClearView Life Insurance?
If you want to cancel an existing ClearView policy, contact the insurer or the adviser or broker servicing your policy and check the requirements applying to your cover. Before replacing an existing policy with another one, it is important to understand when the new cover begins and whether different terms, exclusions or qualifying periods apply.Can ClearView Life Insurance be held through super?
Yes, eligible Life, TPD and Income Protection Cover can be held through ClearView ClearChoice Super. Trauma Cover cannot be held inside super, while Own Occupation TPD also needs to be structured outside super.Can I get a ClearView life insurance quote?
Yes. Because ClearView premiums depend on the cover selected and factors specific to the person applying, a personalised quote is needed to determine the indicative premium. The final premium can change following ClearView’s assessment of the application.
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I read on your website that as an existing Clearview customer, I will receive an online questionnaire every two years, requiring my current height and weight and the like. And that if my health review is positive, it will result in my discount reset to 10% of my premiums….I am making this enquiry for my husband who has been insured with Clearview for years, but never received an online questionnaire…his life protection policy will expire on 14 Sept 2017. Will really appreciate if you will send us an online questionnaire.
If I have death and terminal insurance on my Super and death and terminal illness cover with Clearview, can I make a claim from both companies?
Up to what age would I be covered by Clearview on terminal illness and death?
Will be expecting your answer soon.
Kind regards,
Marivic
Hi Marivic
Thank you for your question. To answer your second question first, yes in general you can claim on multiple life insurance policies at the time if you have notified your subsequent insurer of the previous / current policy at the time your took out the second policy & that there is nothing in the particular insurers product disclosure statements that restricts multiple policy holdings.
In relation to your existing Clearview policy you would need to check to see if the policy that you have is actually eligible for the Health Maintenance Rewards program as you may have a Clearview policy that is not eligible for the program. The best way to check this is to contact Clearview directly or you can reach out to our team and we will be able to assist 1300 135 205.
Person who could not speak English how they could apply for insurance policy.
Hi Hetal
Great, question. Normally what happens is the person would have their guardian / spouse / partner (interpreter) request quotes on their behalf. Then this person would explain the details of the policy, quotes and or explain the quotes, terms and conditions of the cover to the person taking out the cover.
However the application part of the application (Which is very important), needs to be fully and accurately completed in English, therefore a copy of the application is mailed out. The person helping with the interpretation would help them complete the questions in the application and understanding the terms of conditions of the policy they are considering, and the implications of not completing the application forms correctly.
My husband hates paperwork/forms etc… is this one that can be done online? Does it require him to have a medical (he is quite fit, just getting him to go to a doctor is like pulling teeth) !!!!
Hi, I agree, no one likes paperwork! So we have made it easy for customers to apply for insurance over the phone, and at the same time we can answer any questions you may have about the different options and or the process. Generally he won’t require a medical or any tests, the only time these are required is if the insurers selected needs a current reading on a particular condition he may currently have or alternatively if he is applying for large amounts of cover.
If you have any further questions please feel free to call us 1300 135 205.
Is there a charge for ceasing a life insurance policy and transferring to another company?
Hi Kathy, Effectively there is no charge for cancelling a Life Policy and switching to another company. Keep in mind that the Policy Owner only has the right to cancel the policy. This can be different to the Life Insured in some circumstances so you will need to check the policy. You are covered under your Life Insurance simply whilst you are paying your premiums. If you pay premiums monthly or annually, generally the Life Insurers will provide a pro-rata refund of the premiums you may have already paid since the last renewal date up until the cancellation date you have requested. If you do switch Life Insurers, please keep in mind that you are required to disclose your full medical, pastimes and financials again with regards to an application so you need to consider this if you have had a change in circumstances and therefore you need to keep this in mind that a current policy is not cancelled until you are happy with the new policy and it has been accepted by the Life Insurer.