Remediation of Freedom Insurance customers
Important information about ClearView’s remediation of Freedom Insurance customers
ClearView voluntarily compensated a number of former Freedom Insurance (Freedom) customers who were affected by Freedom’s inappropriate sales practices.
Freedom previously sold life insurance products over the phone, offered by various insurance providers. It has become apparent that a number of products sold by Freedom were ClearView products:
- Accidental Death Insurance at ClearView
- Serious Illness Insurance at ClearView
- Life Insurance at ClearView
- Injury Cash Insurance at ClearView.
During 2022, ClearView chose to voluntarily compensate a number of customers who may have been impacted by Freedom’s misconduct by offering a refund of premiums paid plus interest. Whilst all efforts were made, we were not able to successfully refund all of the impacted customers due to, for instance, customers relocating and changing their address, moving overseas, changing their bank account details, or not responding to us when we wrote to them.
Unclaimed money
On 31 March 2023, ClearView handed over any outstanding refund amounts to the Australian Securities and Investments Commission (ASIC) as unclaimed money. ASIC is responsible for administering certain unclaimed monies under law.
To check if you have money owing to you, please go onto the ASIC Moneysmart website and search for your details. Here are some helpful steps to follow:
- Perform a name search
- Check to see if money has been received by ASIC from ClearView Life Assurance Limited. View example here
- If your name has been found, please contact us and we will assist in assessing the rightful ownership of the policy. After this has been assessed, we will arrange for ASIC to release the funds so that we can pay you. Any amount payable to you will include additional interest, calculated from 1 April, 2023 at a rate set by ASIC.
Contact us
Phone: 132 979 (opening hours 8am-6pm AEST, Mon to Fri)
Email: [email protected]
Post: GPO Box 4232, Sydney NSW 2001
How long will a claim take
After it has been assessed that you are the rightful owner of the unclaimed money, we will write to ASIC. ASIC advise that claims may take up to 28 days from the time we lodge a claim on your behalf.
To allow us time to recalculate the amount to be refunded to you, we recommend you allow up to 45 business days for the refund to be paid into your nominated account.
Helpful links