Frequently asked questions

While our team are available and happy to answer any questions you might have, we appreciate that sometimes it’s faster simply to find the answer yourself.  That’s why we’ve created this frequently asked questions page – so that all the most commonly asked questions about NEOS, our products and our processes, can be found in one central place.

Categories:

Answer:

NEOS is a new kind of life insurance business that passionately believes advisers and their clients deserve better.

We’ve brought together some of the brightest insurance minds to challenge complacency and build a truly customer centric business.

NEOS will deliver faster decisions, superbly responsive service and value-for-money cover that you can recommend without hesitation.

Learn more about NEOS

Tags: About NEOS

Answer:

Our founding team have decades of experience in the life industry. They live and breathe life insurance and it’s this passion that’s brought them together with the shared vision of setting a new standard in life insurance.

Learn more about our people

Tags: About NEOS

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Pacific Life Re (Australia) reinsures all NEOS Protection plans. Pacific Life Re is a leading global reinsurer recognised for its unique combination of financial strength and innovative approach to risk management.  Pacific Life Re also has the benefit of a 150-year history through their ultimate parent company, American life insurance giant, Pacific Life.  Pacific Life has assets in excess of US$143 billion, net assets in excess of US$10 billion and paid over US$2.3 billion dollars in benefits in 2016.  Your clients can be confident that the financial strength and stability of our partners means they’re in safe hands.

Learn more about PLRA

Tags: About NEOS

Answer:

NEOS is not a life insurer – this means we don’t issue NEOS Protection. NobleOak Life Limited (NobleOak) does that.

However, NEOS is responsible for the distribution and administration of all NEOS Protection plans. So while our partners, NobleOak and Pacific Life Re, focus on the business of issuing products and managing the insurance risk, we can focus on what we do best – providing quality cover, fast decisions and importantly, better service that applies from the moment NEOS Protection is considered, right through to claims time.

Learn more about NobleOak

Tags: About NEOS

Answer:

NEOS Protection is a highly-rated suite of life insurance cover types available as self-owned or superannuation owned plans that will meet the needs of the majority of clients, at very competitive prices. The cover types available under NEOS Protection include:

Cover Available as Maximum sum insured at entry
Life Cover Stand-alone $3,000,000
Total & Permanent Disability
(TPD) Cover
Stand-alone
Attached to Life Cover
Linked to Life Cover
Split
$3,000,000
Critical Illness Cover Stand-alone
Attached to Life Cover
Linked to Life Cover
$1,000,000
Child Cover Stand alone $200,000
Income Protection Cover Stand-alone
Split
$20,000 per month

 

Learn more about NEOS Protection

Tags: Product

Answer:

NobleOak Life Limited (NobleOak) ABN 85 087 648 708 AFSL 247302 is the issuer of NEOS Protection life insurance products.

NobleOak is an APRA regulated friendly society is one of Australia’s longest standing insurers.

Learn more about NobleOak

 

Tags: Product

Answer:

NobleOak Life Limited (NobleOak) is the issuer of NEOS Protection. As NobleOak is a friendly society, they issue plans, not policies.

Tags: Product

Answer:

No, we only offer individual life insurance and only via financial advisers.

Tags: Product

Answer:

Our application system only supports one insured person per plan. This streamlined process ensures your clients are covered as quickly and painlessly as possible.

Answer:

NEOS Express is an easy way to get your healthy clients cover, at a better price, fast. If your client has been fully underwritten in the last three years, NEOS Express may allow them to obtain better priced cover with NEOS Protection without having to complete a personal statement.

Instead, they’ll only need to complete a short, online, application – essentially a declaration of continued good health.

To be eligible, your client needs to be:

  • age <55
  • BMI <= 28.5
  • non-smoker > 3 years

And they must have an inforce and fully paid, life insurance policy that:

  • provides the same cover as the NEOS Protection cover type being applied for
  • was fully underwritten in the past three years
  • has no loadings or exclusions; and
  • is more expensive than the NEOS Protection cover type being recommended.

For full details, please see our Adviser Guide

 

Tags: Product

Answer:

Yes, a three-year rate guarantee is available on all new NEOS Protection plans. This means we won’t change the base premium rates on inforce NEOS Protection plans within three years of the plan commencement date – giving you and your clients the certainty you demand.

Tags: Product

Answer:

Yes, a 7.5% premium discount will apply to our lump sum covers (Life Cover, TPD Cover and Critical Illness Cover) when the insured person meets the following criteria:

  • BMI < = 28.5
  • non-smoker > 3 years; and
  • no loadings or exclusions

See our Adviser Guide for further details.

Tags: Product

Answer:

Yes, a 10% premium discount applies to our lump sum covers (Life Cover, TPD Cover and Critical Illness Cover) when purchased with Income Protection Cover. This allows us to be competitive in packaged business, while pricing at a sustainable level for stand-alone Income Protection Cover.

Tags: Product

Answer:

No NEOS Protection plans have a plan fee.

Tags: Product

Answer:

Your dedicated sales manager will be confirmed in your adviser welcome email once you have completed the NEOS adviser registration.

If you would like to get in touch with a member of our sales team, contact us on:

Phone: 1300 881 756
Email: adviser@neoslife.com.au 

Not a registered NEOS adviser? Register your interest here

Answer:

Simply complete our ‘register your interest’ form available here

Alternatively, please don’t hesitate to contact our sales team directly on:

Phone: 1300 881 756
Email: adviser@neoslife.com.au 

Answer:

NEOS Online is our fully integrated adviser dashboard, quote and application system.

To login into NEOS Online click here

Not a registered NEOS adviser and can’t access NEOS Online? Register your interest here

Answer:

You can access NEOS Online via our website – simply click on the ‘Adviser login’ button in the top right corner of our website.

You can only login to NEOS Online if you’re a registered NEOS adviser. Not a registered NEOS adviser? Register your interest here

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If you’ve lost your user ID, please contact our Adviser Services team on:

Phone: 1300 881 756
Email: adviserservices@neoslife.com.au 

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If you’ve lost your NEOS Online password, simply follow the ‘forgot password’ link available on the NEOS Online login screen.

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Our Adviser Service team can assist with your administration and commission enquiries. To get in touch, contact them on:

Phone: 1300 881 756
Email: adviserservices@neoslife.com.au 

 

Answer:

Our aim is to make life as easy as possible. We’ve therefore limited the number of forms your client needs to complete to the absolute minimum.

In the first instance, we recommend you get in touch with our underwriting, service or claims team – they’ll be able to confirm the most efficient way to manage your enquiry or request. Our team can be contacted on:

Phone: 1300 881 756
Email: customerservice@neoslife.com.au 

Alternatively, you can access the forms we do have here

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You can access a copy of the NEOS Protection Product Disclosure Statement here

Answer:

Yes, you can order printed copies of the NEOS Protection PDS via our online ordering portal available here

To order printed PDSs, you must be a registered NEOS adviser.  Not registered with us? Register your interest here

Answer:

No, NEOS accepts online applications submitted through NEOS Online only.

However, if you’re meeting with a client and won’t have access to NEOS Online, we’ve created a data capture form – this form allows you to collect the information required to complete the online complete when you return to the office. You can access our data capture form here or order printed copies here

 

 

Answer:

We accept direct debit payments from a credit card or bank account only. This ensures your client doesn’t accidentally forget to pay their premiums. The available payment frequencies are monthly and annually. Payments via cheque or BPAY are not accepted.

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We pay commissions weekly – ensuring prompt payment and efficient cash flow.

Tags: Commissions

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We appreciate that when your client needs to make a claim, they’re often experiencing a period of uncertainty and financial vulnerability. Which is why our claims process is responsive and straightforward – your client doesn’t need any further complications and unnecessary worry during this already difficult time.

Importantly, we also understand and value the role of the adviser during claims time. To help you understand our claims process, we’ve put together a brief guide.

Learn about our claims process

Tags: Claims

Answer:

Your client will have a dedicated claims consultant to help you both through the claims process. The dedicated claims consultant will clearly set out what information we need in order to assess your client’s claim. Your client can then decide whether they would like to submit their claim over the phone or via the more traditional approach of completing claims forms.

Generally, you can expect that we’ll require the below:

  • an initial claim form – whether completed by your client or captured by us over the phone
  • an initial Medical Attendant’s Statement – we’ll contact your client’s medical attendant on their behalf; and
  • proof of identification.

Depending on the type of claim, we may also require additional medical or financial evidence. We’ll make sure we clearly explain why any supporting information is required.

When providing details about your client’s claim to us, it’s always best that both you and they provide as much detail and clarity as you can. This will help us to work as efficiently as possible.

Tags: Claims

Answer:

You can contact our claims team on:

Phone: 1300 881 756
Email: claims@neoslife.com.au

Tags: Claims