ClearView LifeSolutions FAQs

Note: For all superannuation related questions please call our Life Insurance team on 1800 676 465 and speak with an authorised employee representative.

If you can't find the answer to your question below please give our Life Insurance team a call on 1800 676 465 or email lifeinsurance@defencehealth.com.au.

 

  • Structuring your cover and administration

    1. What is linked cover?

    Linked cover interacts with other covers to which it is linked. When a benefit is paid, all cover that it is linked with will be reduced by the benefit amount paid.

    The premium you pay for linked cover is generally lower than what you will pay for the same types of cover held as stand alone cover.

    You cannot link a Life, Total and Permanent Disability (TPD) or Trauma Cover with an Income Protection or Business Expense Cover. Accidental TPD Cover cannot be linked to full Life Cover.

    2. What is flexi linking?

    Flexi linking is a way of linking your cover but allowing you to have different policy owners for each cover type. For example, you may want to have your Trauma Cover linked to your Life Cover but want your Life Cover to be owned by the trustee of your Self-Managed Superannuation Fund (SMSF) and the Trauma Cover to be owned by you, outside of superannuation – flexi linking enables you to do this.

    If you have Life Cover inside super you can flexi link your Trauma Cover, TPD Cover, Child Cover and Parent Cover.

    Flexi linking is also available between a ClearView LifeSolutions policy held outside of superannuation and a policy held through ClearView LifeSolutions Super.

    As with linked cover, when a benefit is paid, all cover to which it is flexi linked will be reduced by the amount of the benefit that has been paid and the premium payable for that cover will be reduced accordingly.

    3. What is a stepped premium?

    A stepped premium is one where your policy premiums are recalculated each year based on your changing benefit amounts and your increase in age.

    4. What is a level premium?

    A level premium is one where your policy premiums are recalculated each year for changes in your benefit amount, but not for a change in your age. The premium is calculated based on your age at the date of the commencement of cover.

    If you continue your policy past age 65 or 70 (depending on the level premium type you select at the time of application), your premium type will convert to a stepped premium basis.

    5. What is a hybrid premium?

    A hybrid premium is a combination of a level premium rate for the first seven years and then shifts to a stepped premium structure on the seventh policy anniversary.

    6. What is the monthly premium frequency loading?

    If you pay your premium monthly, ClearView will apply a premium frequency loading. This loading is a percentage of the annual premium and helps cover the cost of collecting your premium on a deferred and more frequent basis.

    The frequency loading for paying monthly is 8%.

    7. Can premium rates and/or the policy fee change?

    Premium rates and the policy fee are not guaranteed and ClearView may review either or both up or down in the future, regardless of which premium type you select. Any change to the premium rates or policy fee will apply to all policies in a defined group. ClearView will not single out an individual policy.

    8. Is there a group discount?

    ClearView will apply a group discount at the time of application where there is a family group relationship or business relationship between the people insured (excluding lives covered under Child Cover or Parent Cover).

    For 2 people insured the discount is 2.5%.

    For 3 people insured or more, the discount is 5%.

    9. What is the New Cover Reward?

    ClearView offers a reward for customers who complete the application process and obtain cover under ClearView LifeSolutions (excluding Parent Cover) or ClearView LifeSolutions Super. The New Cover Reward commences with a maximum premium discount of 10% and reduces on a sliding scale over 10 years. The reward may be reset under the ClearView health maintenance reward program.

    10. What is the health maintenance reward program?

    This is a voluntary program that encourages you to actively manage your health and wellbeing. Participation can reset your New Cover Reward back to the maximum year 1 discount.

    Every two years ClearView will give you the opportunity to complete an online questionnaire on your health.

    The types of questions include your height and weight, visits to a doctor in the preceding 3 years and whether you are a smoker.

    If your answers reflect that you are proactively managing your health, your New Cover Reward will reset from the next policy anniversary after completing the questionnaire.

    This program is offered on a ‘no regrets’ basis. This means you will not be penalised for any change in your health.

    11. Is there a cooling off period?

    If for any reason you feel your policy does not meet your needs, you can cancel it by notifying ClearView in writing. You have 30 days, starting on the earlier of:

    • the date you receive your policy, or
    • five business days after your cover start date.

    If you cancel the policy during this period, ClearView will cancel from the cover start date and refund any premiums you have paid.

  • Life Cover

    14. What is the Life Cover Conversion Benefit?

    This is a built in benefit for Life Cover held outside super which allows the policy owner to cash in some, or all, of their Life Cover benefit at a rate of 30% if they suffer a specific medical condition, as stated in the PDS and Policy Document.

    15. What is the Funeral Advancement Benefit?

    If your Life Cover is held outside super, and you provide the death certificate (or other satisfactory evidence) of insured’s death, ClearView will advance the lesser of $25,000 and the Life Cover benefit amount.

    The Life Cover benefit amount will be reduced by the amount paid under this benefit.

    16. What is the Grief Support Benefit?

    If ClearView pays the Life Cover benefit amount, you will be reimbursed the cost of up to four hours of grief counselling (to a maximum of $1,000 in respect of each person insured). The benefit is available to an immediate family member of the person insured (or to the person insured in the case of terminal illness).

    This benefit is not available if Life Cover is held inside superannuation.

    17. What is the Life Cover Buy Back Benefit?

    This benefit applies if you have TPD Cover and/or Trauma Cover linked or flexi linked to your Life Cover.

    This benefit will allow you to reinstate your Life Cover benefit amount for the amount of the Trauma Cover or TPD Cover benefit paid, without having to provide further medical evidence.

    ClearView will offer to reinstate your linked or flexi linked Life Cover benefit amount 12 months after the later of:

    • the date ClearView received your fully completed claim form in relation to which the full or partial Trauma Cover or TPD Cover benefit amount is paid, or
    • the date you satisfied the trauma condition or TPD definition.
  • Total and Permanent Disability (TPD) Cover

    18. If your occupation is home duties, what is the definition for TPD?

    As a result of sickness or injury, you:

    • have been unable to perform home duties for three consecutive months, and
    • are disabled at the end of the period of three consecutive months, to such an extent that you are unlikely to ever again be able to perform home duties.

    OR

    • suffer at least 25% permanent whole person impairment as defined in the American Medical Association publication ‘Guides to the Evaluation of Permanent Impairment’ (6th edition) or an equivalent guide to impairment approved by ClearView, and are disabled to such an extent that, as a result, you are unlikely to ever again be able to perform home duties.

    OR

    • satisfy the Non-working TPD definition.

    Where you were working at least 20 hours per week in regular paid employment for six continuous months prior to disability, the definition of total and permanent disability will be based on Any occupation TPD.

    If your TPD Cover is held inside superannuation, in addition to the above, you must also be unlikely to ever again be able to engage in any occupation for which you are reasonably suited by education, training or experience.

  • Trauma Cover

    19. What is the maximum entry age for Trauma Cover?

    If you choose a stepped premium type the maximum entry age is 65.

    If you choose a level or hybrid premium type the maximum entry age is 60.

    20. What is the Trauma Plus Option?

    The Trauma Plus Option provides cover for an extra 13 trauma conditions and can be added to your Trauma Cover at an extra cost.

    The extra 13 trauma conditions are:

    • Breast Cancer with Surgery and Treatment^
    • Carcinoma in situ^
      • Breast (excluding Breast Cancer with Surgery and Treatment)*
      • Cervix – uteri (excluded are cervical intraepithelial neoplasia (CIN) classifications CIN 1 and CIN 2)*
      • Fallopian tube (tubal mucosa only)*
      • Ovary*
      • Penis*
      • Perineum*
      • Prostate*
      • Testicle*
      • Vagina*
      • Vulva*
    • Early Stage Prostate Cancer^*
    • Early Stage Melanoma^*
    • Chronic Lymphocytic Leukaemia^*
    • Hydatidiform Mole^*
    • Diabetes Complication^*
    • Partial Loss of Hearing*
    • Partial Blindness*
    • Severe Osteoporosis*
    • Severe Crohns Disease*
    • Severe Ulcerative Colitis*
    • Colostomy/ileostomy*

    ^ are subject to a 90 qualifying period

    * will only pay a partial benefit amount

    21. What is the Trauma Cover Reinstatement Benefit?

    If ClearView pays a full or partial Trauma Cover benefit, you can reinstate your Trauma Cover for the amount of the Trauma Cover benefit paid, without having to supply further medical evidence.

    This will be offered 12 months after the later of:

    • the date ClearView received the fully completed claim form in relation to which they pay the full or partial trauma cover benefit amount, OR
    • the date the person insured satisfied the definition of the trauma condition.

    22. What is the Blood Borne Diseases Benefit?

    If you suffer Occupationally Acquired Hepatitis B or C, ClearView will pay the Trauma Cover benefit amount.

  • Income Protection Cover

    23. What is the maximum entry age for Income Protection Cover?

    If you choose a stepped or level premium type the maximum entry age is 60.

    If you choose a hybrid premium type the maximum entry age is 55.

    24. What is the Extras Package Option and who can take it up?

    This optional package of additional benefits can be added to your Income Protection Cover and Accidental Income Protection Cover, at an extra cost.

    It includes:

    • Specific Injuries Benefit
    • Trauma Benefit
    • Bed Confinement Benefit
    • Overseas Assist Benefit
    • Family Support Benefit
    • Home Care Benefit

    This option is not available inside superannuation but may be flexi linked to income protection held inside superannuation.

    This option is only available if you have a 14, 30, 60 or 90 day waiting period and is not available if you work in a heavy risk occupational category ClearView classifies as C or SR.

    25. What does total disability mean under income protection cover or business expense cover?

    For income protection held outside superannuation or business expense cover, you will be considered totally disabled if you satisfy any one of the following ClearView definitions at the time of claim.

    Duties based

    Solely because of sickness or injury, you are:

    • unable to perform one or more important income producing duties of your regular occupation
    • under the regular care and following the advice of a medical practitioner in relation to that sickness or injury, and
    • not working

    Hours based

    Solely because of sickness or injury, you are:

    • not working for more than ten hours* per week in your regular occupation and not working in any other gainful employment
    • unable to perform the important income producing duties of your regular occupation for more than ten* hours per week, and
    • under the regular care and following the advice of a medical practitioner in relation to that sickness or injury.

    Income based

    Solely because of sickness or injury, you are:

    • working in your regular occupation or any other gainful employment but are unable to generate more than 20% of your pre-disability earnings, and
    • under the regular care and following the advice of a medical practitioner in relation to that sickness or injury.

    * If you are working less than 20 hours per week in your regular occupation in the 12 consecutive months immediately prior to the cover start date and immediately prior to a disability, we will replace ten hours with five hours for the purposes of determining whether you are totally disabled.

    26. What benefit payment types are available?

    Indemnity benefit type

    The monthly benefit amount is the lesser of 75% of your pre-disability earnings less offsets and the monthly benefit amount insured, as stated on your policy certificate.

    Agreed value benefit type

    The monthly benefit amount payable is the amount insured, as stated on your policy certificate, regardless of any reduction in your income that may have occurred since the cover start date.

    If financial evidence of your income supporting the monthly benefit amount was not provided at the time of application, then it may be required at the time of claim.

    If you cannot satisfy this requirement, the monthly benefit amount will be the lesser of 75% of your pre-disability earnings less offsets and the monthly benefit amount insured, as stated on your policy certificate.

    Guaranteed agreed value benefit type

    The monthly benefit amount payable is the amount insured, as stated on your policy certificate regardless of any reduction in your income that may have occurred since the cover start date.

    27. What is the TPD Lump Sum Option?

    This is an optional extra for Income Protection, Income Protection Plus and Accidental Income Protection Cover held outside of super, with an age 65 or age 70 benefit period. The option must be selected at the time of application. If the person insured becomes totally and permanently disabled based on their own occupation, they can choose to take their benefit as a capitalised tax-free amount, instead of the normal monthly income protection benefit. Approximately 90% of the income protection premium is tax-deductible if this option is selected.

  • Accidental Cover

    28. What type of Accidental Cover is available in LifeSolutions?

    • Accidental Death Cover
    • Accidental Linked TPD Cover
    • Accidental Standalone TPD Cover
    • Accidental Income Protection Cover
  • Business Expense Cover

    29. Who is eligible to take out Business Expense Cover?

    You can take out Business Expense Cover if you are self-employed or a small business owner (with no more than five staff including yourself and other owners), and work a minimum of 20 hours per week in your principal occupation.

    30. What is the maximum benefit period for Business Expense Cover?

    The maximum benefit period is 1 year or until 12 times the monthly benefit amount has been paid for the one disability.

    31. What is the Accident Option for Business Expense Cover?

    If you are totally disabled as a result of an accident for a period of at least three consecutive days from the day you first seek medical advice for your injury, ClearView will pay 1/30th of the monthly benefit amount for each day you are totally disabled during the waiting period.

  • Additional benefits

    32. What does guaranteed renewable mean?

    ClearView guarantees to renew your policy each year up until the policy expiry, so long as you continue to pay your premiums when due. This means that ClearView cannot cancel your cover, place any further restrictions on your cover or increase your individual premium (before applicable discounts) because of any change to your health, occupation or pastimes.

    33. Does ClearView guarantee to upgrade benefits on your cover?

    Yes, ClearView will automatically pass on any future product enhancements to your policy, provided they do not result in an increase in premium.

    34. What is the Indexation Benefit?

    To ensure your benefits maintain real value and keep pace with the cost of living, ClearView will automatically increase your benefit amount each year in line with the consumer price index (CPI), subject to a minimum increase of 5% p.a.

    35. What is the Accommodation Benefit?

    If your cover is held outside superannuation, ClearView will reimburse you for the accommodation costs of an immediate family member of up to $250 per day, for each day you remain confined to bed, for a maximum period of 30 days.

    To be eligible for this ClearView must have paid a benefit for terminal illness, TPD or trauma and your immediate family member is required to travel more than 100 kilometres from their residence or you are more than 100 kilometres from your place of residence.

    36. What is the Premium Freeze Benefit?

    If your cover is on a stepped premium you can fix the premium for your cover (excluding the policy fee) at the level that applied prior to the next policy anniversary, and the benefit amount will reduce each year to an amount that could be purchased with the fixed premium and based on the premium rate that applies at the time.

    This benefit does not apply to Accidental Death Cover or Accidental TPD Cover.

    37. What is the Suspending Cover Benefit?

    This is a built in benefit that allows the policy owner to suspend the premiums and cover for any lump sum, income protection or business expense cover for up to 12 months. No claim will be payable in respect of any event, sickness or injury that occurs during the suspension period.

    38. What is the Future Increase Benefit?

    As life changes the Future Increase Benefit allows you to increase your Life Cover, TPD Cover, Trauma Cover, Income Protection Cover and/or Business Expense Cover benefit amount up to certain limits without further medical assessment.

    39. What is the Financial Advice Benefit?

    If the full Life Cover, Accidental Death Cover, TPD Cover, Accidental TPD Cover or Trauma Cover benefit amount is paid (for cover outside superannuation), ClearView will reimburse the cost of engaging a financial adviser who is operating under an Australian Financial Services Licence to prepare a financial plan(s) for you and/or any other beneficiaries under the policy.

  • LifeSolutions Super

    40. What is LifeSolutions Super?

    LifeSolutions Super allows you to hold your Life, Accidental Death, TPD, Accidental TPD, Income Protection, Income Protection Plus and Accidental Income Protection Cover inside the superannuation environment. This may be a tax-effective solution for some people or simply a choice of affordability.

    Premiums can be paid by a rollover from your superannuation fund as well as direct debit from a bank account or credit card, BPAY or cheque.

    41. Are all cover options available within LifeSolutions Super?

    No. Business Expense Cover, Trauma Cover, Parent Cover and Child Cover cannot be included in LifeSolutions Super.

    42. Where will my rollover be invested?

    Your rollover will be invested in the ClearView Life Super Cash Fund.

    43. Are there any management fees or charges with LifeSolutions Super?

    Currently, there are no management fees or charges associated with ClearView LifeSolutions Super. The only amount payable is the contribution or rollover you make to cover the cost of your insurance premium, including any applicable policy fee.

    44. What death benefit nominations are available inside LifeSolutions Super?

    Option 1 - Binding nomination (non-lapsing or lapsing)

    If you have a valid non-lapsing or lapsing binding nomination in place, the Trustee is required to pay your death benefit as a lump sum or pension to the person or people that you have nominated. This provides you with greater certainty, knowing who will receive the benefit amount in the event of your death.

    Option 2 - Non-binding nomination

    If you make a non-binding nomination, the Trustee will take your nomination into account. However, the Trustee is not required to pay the death benefit in accordance with your nomination and may determine to pay the death benefit as a lump sum or pension to one or more of your dependants and/or a lump sum to your Legal Personal Representative in whatever proportions it thinks fit.

 

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ClearView LifeSolutions

 

Disclosure: This information is intended to provide general information only and has been prepared without taking into account any particular person’s objectives, financial situation and needs. Before acting on such information, you should consider the appropriateness of the information having regard to your personal objectives, financial situation and needs. You should read the relevant Product Disclosure Statement (PDS) and Policy Document before making any decision about a product which can be accessed at defencehealth.com.au. If you purchase a policy, Defence Health receives a commission that is 10% to 20% of your premium. ClearView LifeSolutions issued by ClearView Life Assurance Limited ABN 12 000 021 581 AFSL 227682 ClearView LifeSolutions Super issued by ClearView Life Nominees Pty Limited ABN 37 003 682 175 AFSL 227683, as trustee of the ClearView Retirement Plan ABN 45 828 721 007.