ClearView life insurance refunds
Are you owed a refund for your life
ClearView Life Assurance Limited will refund over $1.5 million
to 16,000 customers after pressuring them to buy life insurance
over the phone. 1,166 customers were living in high Indigenous
populated areas - many of whom were unlikely to have English as
their first language.
ASIC's review of ClearView's sales calls revealed unfair sales
practices during the period 1 January 2014 to 30 June 2017.
Here we explain if you are entitled to a refund on your life
insurance and how you can claim it.
What did ClearView do wrong?
ASIC's review found ClearView sales staff:
- charged customers for insurance policies without their
- made misleading statements about the cover, the premiums and
the effect of any pre-existing medical conditions
- did not give customers the product disclosure statement (PDS) when
they asked for it
- used pressure tactics to sell the policies.
ClearView has also stopped calling people to sell life
Which life insurance policies
are due a refund?
The life insurance policies include funeral, illness, injury and
accident insurance as well as BUPA-branded policies. If you
purchased any of the following policies between 1 January 2014 and
30 June 2017, you may be entitled to a refund:
- ClearView Accidental Death
- ClearView Life Insurance
- ClearView Funeral Insurance
- ClearView Injury Cash Insurance
- ClearView Serious Illness Insurance
- ClearView LifeSolutions Essentials
- Bupa Accidental Death
- Bupa Life Insurance
- Bupa Funeral Insurance
- Bupa Injury Cash Insurance
- Bupa Serious Illness Insurance
Even though some of these policies are branded as BUPA, they are
actually offered by ClearView.
How do I know if I was pressured
into buying or mis-sold insurance?
Here are some signs you were pressured into buying an insurance
- Buy now pay later was untrue - It was not
clear when the first premium was due and you were told you could
get your insurance now and pay for it later, but the payments were
due on the day the policy started.
- No time given to talk it over with family -
When you asked for more time to think about the policy or discuss
it with your family, you were told you could get the insurance now
and review it later. The truth was, if you cancelled it in the
cooling-off period you would get your money back but if you
cancelled it after that you would lose the money you had paid in
- A check for eligibility was really buying the
insurance - The sales person took all your personal and
bank account details saying they were confirming your eligibility
but really they were signing you up for the insurance.
- Don't worry, just buy it - The sales
representative may have repeatedly told you not to worry and that
you could cancel the insurance at any time. The truth was you could
only cancel it, without losing the premiums you had already paid,
during the 14 day cooling-off period.
Here are some signs you were mis-sold an insurance policy:
- No PDS given to explain the insurance - You
asked for a product disclosure statement but it was not sent to you
so you could not find out the details of the policy.
- Pre-existing conditions not explained - You
were not told about the pre-existing conditions exclusions that
would not allow you to claim. For example, if you had a heart
problem before you bought the policy, you would not be able to
claim on it if you had a heart attack and hadn't told the insurance
company about this before you bought the insurance.
- Premiums would stay the same - You were told
that your premiums would not go up and they did.
- Misled about coverage - You were told your
policy would cover a type of accident that it didn't cover, like a
broken finger when the policy only covered more substantial broken
Am I entitled to a refund from
If you are entitled to a refund, ClearView will pay the money
directly into the bank account or credit card you used to pay for
If the bank account or credit card you used is no longer valid,
you should contact ClearView by calling 1800 213 839 or
The refund you receive will depend on how long you held the
policy for if it has ended.
If your policy has ended
If you stopped paying or never paid premiums for your insurance
policy in the first 3 months, or cancelled the policy soon after
you bought it, you'll receive all the premiums back that you paid
plus interest and any bank fees.
Indigenous consumers will receive back premiums they paid within
the first 5 months if they cancelled the policy or stopped making
payments on the policy within that time.
All refunds will be paid into your bank account or the credit
card you used to pay for the policy. ClearView will let you know
you have been paid a refund by sending you a letter or email.
ClearView is also offering a 50% refund on premiums paid plus
interest for some of their policies that lapsed within the first
four to 12 months (or six and 12 months for Indigenous
If your policy ended after you held it for 12 months, then
ClearView will also offer to review the sales call and if there is
evidence you were pressured into buying they will refund you 50% of
the money you paid plus interest.
If your policy is still current
If your life insurance policy is current and you took it out
between 1 January 2014 and 30 June 2017, ClearView will contact you
via mail or email to tell you that you may be due a refund. They
will offer to review your sales call to see if you were mis-sold or
pressured into taking out the insurance.
If you think you might be eligible for a refund and have not
been contacted by ClearView, please contact them on 1800 213 839 or
via email at firstname.lastname@example.org.
You can request a review of your sales call
ClearView will also contact an additional 16,116 customers who
were sold life insurance over the phone between 1 January 2014 and
30 June 2017, offering to review their sales call to see if there
is evidence of mis-selling or pressure sales.
If you were pressured to buy
If you think you were pressured into buying the policy you
should ask ClearView to review the sales call. If they find
evidence that the salesperson has pressured you into buying the
policy, you will be refunded 50% of the premiums you paid and
If you were given the wrong information about the policy
If you think you were mis-sold the policy, you should ask
ClearView to review the sales call. If they find evidence of
mis-selling, ClearView will update your policy to the level of
cover you thought you were buying.
If you were told your premiums would not increase over time,
ClearView will update your premium to the amount you were told on
the phone and refund the money you have paid over that amount.
What if you are still not happy?
If you are not happy with your refund or with the outcome of
ClearView's review you should lodge a complaint with the Financial Ombudsman Service. If you need
help with your complaint you can get help from a free
Case study: George gets a refund on his ClearView
Here is a typical example of what a customer will get back on
George got a call from Clearview about life insurance and gave
them his bank account details when asked so he could get a quote.
The following week, George's car broke down and he had to pay a lot
of money to get it fixed. George didn't know the insurance policy
had started as he was waiting to get information about the policy
in the post, so he wasn't expecting the monthly insurance premium
($75) to be deducted from his bank account.
As George didn't have $75 in his account, his bank charged him a
dishonour fee of $5. When George received his pay a week later, the
direct debit of the insurance premium went through. When George saw
that $75 had been deducted from his account, he rang Clearview and
cancelled the policy.
George will receive a refund of $84.69 from ClearView ($75
premium, $5 bank fee and interest of 5.86% pa).
How do I complain about
policies from other insurers?
If you have a life insurance policy that is not with ClearView
but you think you were mis-sold or pressured into buying it, you
should lodge a complaint with the Financial Ombudsman Service.
If you need help lodging a complaint, you can talk to a free and
independent financial counsellor by calling 1800 007 007 during
business hours, or find one near you by using our online
financial counsellors map.
How do I know if an insurance
policy is right for me?
insurance page explains the different types of life insurance,
and what to find out before you buy a policy.
Our funeral insurance webpage explains
what funeral insurance gives you and your family and explains other
ways to cover your funeral costs.
By law, insurance companies cannot call you and
pressure you into buying insurance or make incorrect statements
about their products. If you think this has happened to you, you
should make a complaint.
Last updated: 05 Dec 2018