Frequently Asked Questions

The amount you pay for a ClearView insurance policy is called the premium.

The premium is based on a number of factors, including:

• the type of cover e.g. Life Cover, Trauma Cover, Total and Permanent Disability Cover, Income Protection Cover; Business Expenses Cover and Child Cover,
• the benefit amount,
• any optional extras you have selected,
• the length of time you have held your policy,
• the premium type,
• the frequency of your premium payments,
• the combination of covers held,
• a range of personal factors such as your age, sex, smoking status, health, occupation, pastimes and any loadings that have been applied.

Before each policy anniversary, we will send you a renewal notice with the premium for the upcoming year.

We may from time to time offer discounts. These may include discounts for:

• higher benefit amounts;
• Health Rewards, which provides an initial discount. This discount continues or reduces depending on your eligibility (as set out in the applicable Product Disclosure Statement) and whether you complete the requirements on subsequent policy anniversaries.

These discounts are not guaranteed. They may be varied and not apply over the life of your policy.

You can choose the premium type that best suits your needs.

The premium type describes the way that future premium rates are calculated. None of these premium types offer a guarantee against increases due to a premium rate change, as described in the section ‘Premium rates are not guaranteed’.

For more information on life insurance premiums, read the Life Insurance Council of Australia (CALI)’s brochure: Life insurance premiums - Key facts here.

Variable age-stepped premium (called stepped premium for policies taken out prior to May 2024)

Premiums generally increase due to age and can also increase due to changes in your benefit amount insured (e.g. under the Indexation Benefit), the length of time you have held your policy or a premium rate review.

Where your premium type is specified as ‘variable age-stepped premium’, your policy premiums are recalculated each year based on your increase in age and any changing benefit amounts.

Premiums can also vary, up or down, if we review our premium rates in accordance with the section of the Product Disclosure Statement and Policy Document called ‘Premium and other costs’.

Any taxes or monthly payment loading applicable, and any policy discounts you are eligible for, are then applied.

Variable premium (called level premium for policies taken out prior to May 2024)

Premiums will not increase due to age, but can increase due to changes in your benefit amount insured (e.g. under the Indexation Benefit), the length of time you have held your policy, or a premium rate review.

Where your premium type is specified as ‘variable premium’, your policy premiums do not increase due to age, however they are likely to be higher at the commencement of your policy compared to a variable age-stepped premium type. Variable premiums can increase due to increases in your benefit amount insured. Premiums can also vary, up or down, if we review our premium rates in accordance with the section of the Product Disclosure Statement and Policy Document called ‘Premium and other costs’.

The premium is calculated based on your age when variable premiums were selected. The premium for other increases in cover, including increases under the Indexation Benefit, will be based on your age at the time of the increase in cover.

Your variable premium will convert to a variable age-stepped premium basis on the policy anniversary immediately after you turn age 65 if your policy continues beyond this date.

Any taxes or monthly payment loading applicable, and any policy discounts you are eligible for, are then applied.

Hybrid Premium (only on LifeSolutions)

Premiums are initially determined on a Variable premium (level premium) basis and then convert to a Variable age-stepped premium (stepped premium) after the policy’s seventh annual anniversary. After the seventh anniversary premiums will be recalculated each year for any change in benefit amounts and for your increase in age.

Premiums can also vary, up or down, if we review our premium rates in accordance with the section of the Product Disclosure Statement and Policy Document called ‘Premium and other costs’.

Where your premium type is ‘stepped’ or ‘variable age-stepped’, your premiums generally increase each year due to age, changes in your benefit amount (including increases under the Indexation Benefit), the length of time you have held your policy or a premium rate review.

Where your premium type is ‘level’ or ‘variable’, your premiums do not increase due to age,but are likely to be higher at the start of your policy compared to a variable age-stepped premium type. Variable premiums can also increase due to increases in your changing benefit amount, the length of time you have held your policy or a premium rate review.

Premium rates are not guaranteed. Regardless of whether you have stepped, variable age-stepped, level or variable premiums, we may review premium rates both up or down in the future. Any change to premium rates will be made when we consider that they are necessary to protect our legitimate business interests and will apply to all policies in a defined group. We will not single out an individual policy.

Premium rates are set to cover the expected future claims cost, margins and the other costs of providing cover to a defined group of customers. A change to the premium rates may occur where there is a change in any of those factors, for instance, without limitation, due to a change in any of the following:

• The number or total cost of claims received;
• The duration of claims (for Income Protection);
• The rate at which customers are keeping or ending their cover (i.e. policy persistence);
• Interest rates;
• Operating costs; and
• Laws or regulation that we must comply with.

These changes to premium rates would be in addition to any age-based increases under a variable age-stepped premium type, increases due to the length of time you have held cover, increase under the Indexation Benefit, or any change in eligibility for premium discounts over time.

If we change premium rates, we will give at least 30 days’ notice in writing and the change will take effect from the earlier of:

• The next policy anniversary; or
• Any cover alteration request after the change is introduced.

As a valued ClearView customer, you have options if premium affordability becomes a concern.

Depending on your cover, there are several ways you may be able to help manage your cover and premiums under your ClearView ClearChoice or LifeSolutions policy.

Depending on the terms of the policy you hold, you may be able to:

• suspend your cover for up to 12 months: During this period, you will not have to pay the premium, however you will be unable to claim in respect of any event, sickness or injury that occurs during the suspension period.
• have premiums waived while you are involuntarily unemployed for up to 3 months: During this period, you will not have to pay the premium if you are involuntarily unemployed and your cover will continue while premiums are waived.
• lower the amount you are covered for: This will reduce your premiums and the insurance benefit under the policy. You should be aware that if you reduce your cover, you may not be able to increase it again on the same terms or at the same cost.
• remove any extra cost options you included on your cover: This will remove the cost of the option and will also remove the additional benefits or features that were provided under the option. You may not be able to add the option back at a later date.
• change the TPD or Trauma definition: In some cases you may be able to select an alternative definition to the one you currently hold, resulting in a reduction in the premium you pay.  
• for income protection:
  • reduce the benefit period: The benefit period is the maximum length of time you can receive money if you make a claim. Generally, the shorter the benefit period, the lower premiums you pay for cover. If you wish to change your benefit period back, it may not be on the same terms or at the same cost;
  • extend the waiting period: This is the minimum period of time you must be disabled as a result the same sickness or injury before you are eligible to claim a benefit. Generally, the longer the waiting period the lower the premium;
  • change the type of cover: If you hold an Agreed Value policy, which is a set benefit amount, this can be changed to Indemnity, where the benefit amount can vary based on your pre-disability earnings.

If you take up one or more of these options, it may affect your policy (such as the amount you are covered for). Limitations and conditions do apply and you should read the applicable Product Disclosure Statement for more information.

We recommend that before making a decision, you speak to a financial adviser to discuss your specific cover needs.

For information about options to make your cover more affordable, call us on 132 979 between 9am and 5pm (Sydney time), Monday to Friday.

For additional information, you can also read our article on ‘How inflation impacts your life insurance – and how you can manage it’ or refer to clearview.com.au/vulnerability.

A beneficiary is the person who you nominate to receive part or all of the benefits if you pass away while you’re covered by your life insurance policy. You can nominate up to five beneficiaries, including your Legal Personal Representative, and if you’re choosing more than one beneficiary, you need to tell us what percentage of the total benefit amount you’d like each one to receive. Your beneficiaries are the ones who will receive the benefits of the claim, so it’s important that you tell them that you’ve taken out the cover and give them a copy of the policy details. There are certain rules about nominated beneficiaries, including who can be nominated and whether the nomination is binding or not, so it is important to read the Product Disclosure Statement for more information.

You can change your beneficiaries at any time. Simply call us on 132 979 (8.30am - 6pm, Mon-Fri, AEST) to find out how.

Underwriting is the process we use to work out whether we can insure you, how much we can cover you for, and how much you’ll need to pay in premiums. During underwriting, we may ask you a number of health and lifestyle questions, such as your height and weight, whether or not you smoke, and any illnesses or medical conditions you may have or have had. We may also ask you about your job, pastimes and income details. If you’re in good health and don’t have a risky job or risky pastimes, you’ll generally be accepted for cover. If you have any health or lifestyle risks, there is a chance that we may not be able to offer you the cover you were after. It is important that your answers to any underwriting questions are true, correct and complete, otherwise any claim you make in the future may be reduced or declined altogether.

Having a medical condition doesn’t always mean we won’t insure you. We look at each individual’s unique circumstances. Minor medical conditions usually don’t affect your chances of getting cover, however serious conditions such as cancer or heart disease may. If we can’t cover you under the product you were after due to health reasons, you may still be able to get cover under one of our accidental covers.

Our life insurance policies are renewable until their policy expiry age – this means that you can keep your cover in place until then, so long as you keep paying your premiums.

Advances in HIV treatments have significantly improved the general health and longevity for people living with HIV. If you are living with HIV or Acquired Immunodeficiency Syndrome (AIDS), your HIV status alone is unlikely to prevent you from getting life insurance.

Will my HIV status be treated differently to any other health condition during the application process?

During the application process we will ask you a range of health-related questions, including whether you have received an HIV-positive test result or are awaiting the results of a test.

If you disclose that you are living with HIV or AIDS, we will assess your HIV status in the same way as any other medical condition when determining the cover we can offer.

We may ask more questions about your diagnosis, treatment plan, viral load, and any related conditions or symptoms you might be experiencing, from your General practitioner or consulting specialist We will use the answers to these questions to assess your individual level of risk, which is important for determining what cover you will be offered and at what price.

It is important your answers to the application questions are true, complete and correct. If you don’t, it may have serious consequences including changes to terms, reduction of cover or treating the cover as if it never existed. It could also impact on whether we pay out on any claim you make.

We understand the sensitivity of your condition and will underwrite it in accordance with our own philosophy, the Life Insurance Code of Practice and current medical guidelines.

How does my HIV status impact on being able to make a claim?

Our products and policies do not have a built-in exclusion for HIV and disclosing your status does not necessarily exclude you from making a claim for HIV. There are certain scenarios where an exclusion may be applied (in which case a claim may not be considered), or additional premium charged. If this is the case, we will inform you of any changes to the terms of your policy before you accept it.

As an example, our Trauma product can pay a benefit for occupationally and medically acquired HIV. Therefore, if you disclose an HIV-positive status, these events would be removed from your policy, however you would be covered for a range of other benefits under the policy.

Our other products, Life insurance, income protection and total and permanent disability (TPD) insurance will usually not exclude HIV but in some cases, an additional premium may apply. In other cases you may receive cover without restriction or, depending on your individual circumstances, we may not insure you at all.

HIV testing as part of the application for insurance

Regardless of your HIV status, as part of the usual application process, we may ask you to have a blood or medical test through an approved pathology provider. The blood test may include an HIV test.
If it returns a positive HIV result that you were not aware of, your nominated GP, health clinic or pathology provider will contact you about the results. We will not share your results directly with you due to the sensitive nature of receiving a positive HIV result.

The results of any blood tests undertaken as part of the application process will be used in determining what insurance terms we can offer you.

If you would like more information, to provide feedback or if you have any questions you can direct these via your financial adviser or call our contact centre on 132 979 If you would like more information, or would like to provide feedback.

If you have any concerns or want to lodge a complaint, please contact us:

Phone: 132 979
Email: [email protected]
Online: clearview.com.au/complaints-form

In writing:

Complaints Resolution Manager
ClearView
Reply Paid 4232
Sydney NSW 2001

If you are not satisfied with the outcome, you can contact Australian Financial Complaints Authority (AFCA):
Phone: 1800 931 67
Email: [email protected]
Website: afca.org.au

In writing: 

Australian Financial Complaints Authority GPO Box 3 Melbourne VIC 3001

Resources

Yes, you can request a change to your benefit amount anytime you like – simply contact your financial adviser or call us on 132 979 (8.30am - 6pm, Mon-Fri, AEST). If you’d like to increase your benefit amount, you may need to answer some health and lifestyle questions before we can determine if we will accept the increase in your benefit amount and on what terms. You don’t need to answer any health or lifestyle questions to decrease your benefit amount.

If you hold Life, TPD or Trauma Cover outside of superannuation, premiums are generally not tax-deductible and benefits are generally tax free. If you hold Income Protection Cover or Business Expense Cover outside of superannuation, premiums are generally tax-deductible and benefits are generally treated as income and taxed at your marginal tax rate. However, there are some special considerations that apply to some of the features included Income Protection and your individual circumstances can be quite different. We recommend you speak with an independent tax expert regarding your own situation to determine if your premiums are tax deductible.

To change your name and address details, please call us on 132 979 (8.30am - 6pm, Mon-Fri, AEST).

A certified document is a copy of an original document that has been certified as a true copy of an original document. To obtain an originally certified copy, you will need to present the original document and a photocopy of that document to one of the people¹ outlined below.

Examples of people who can certify your documents are:

• Financial adviser*
• Accountant (provided they hold a current membership to a professional accounting body)
• Pharmacist
• Qualified school or tertiary/university teacher
• Justice of the Peace
• Solicitor
• Police Officer
• Magistrate
• An employee of Australia Post*
• An officer of a bank, building society, credit union or finance company*

*provided they have two or more years of continuous service

You can also find a full list of people who can certify documents here.

1 Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007

You might be considering paying for your insurance via your superannuation. This may be a tax effective strategy or otherwise a way to fund personal insurance if you have limited cash flow. Using superannuation monies to fund insurance premiums will reduce your accumulation balance for retirement. It is important to speak to a financial adviser to see if this strategy is right for you. You should consult the Product Disclosure Statement in deciding whether to acquire or continue to hold the product. Please note that some benefits and optional extras are not available if cover is held inside superannuation. Please refer to the relevant benefit or option to understand if this is the case.