Frequently Asked Questions FAQs

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.

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

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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

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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

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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

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

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

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

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

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

Tags: Applying for NEOS Protection

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

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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.

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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

Yes, a 15% 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.

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No NEOS Protection plans have a plan fee.

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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

Tags: Adviser Services

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 

Tags: Adviser Services

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

Tags: Adviser Services

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

Tags: Adviser Services

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 

Tags: Adviser Services

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

Tags: Adviser Services

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

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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

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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

Tags: Applying for NEOS Protection

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.

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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

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

Life insurance, sometimes also referred to as life cover, provides a lump sum payment if the insured person dies or is diagnosed with a terminal illness. This money can be used to pay off debts such as a mortgage, cover daily living expenses or be saved for future needs such as school fees.

Tags: About life insurance

TPD cover provides a lump sum payment if the insured person becomes totally and permanently disabled. This money can be used to help pay medical expenses or cover the cost of necessary lifestyle changes.

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Critical illness cover provides a lump sum payment if the insured person suffers critical illness. The money paid can be used for any purpose; whether it’s to seek specialised medical treatment, reduce debts or make necessary lifestyle changes.

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Child cover provides a lump sum payment if the insured child dies, is diagnosed with a terminal illness or suffers a critical illness. It provides financial support to help a family concentrate on what’s important.

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Income protection cover replaces up to 75% of the insured person’s income if they’re unable to work due to illness or injury. This can help cover day-to-day expenses such as school fees and mortgage and car repayments; allowing the insured person to focus on recovery.

Tags: About life insurance

With stepped premiums, the insured person’s premium is re-calculated on each plan anniversary based on their age on that anniversary. Stepped premiums will generally increase each year in line with the insured person’s increase in age and any increase in their sum insured.

Tags: About life insurance

With level premiums, the insured person’s premium is calculated on an age-based premium rate determined at the cover commencement date.

Level premiums are generally higher than stepped premiums during the initial years of the insured person’s plan but are lower in later years.

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A beneficiary is the person (or people) you choose to receive your life insurance benefit if you pass away while you’re covered by a life insurance plan. If you’re choosing more than one beneficiary, you’ll need to let us know what proportion of the total benefit amount you’d like each beneficiary to receive. If you wish to add or update a beneficiary nomination for your plan, you can do so at any time. Simply call us on 1300 090 188 or email us at customerservice@neoslife.com.au.

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Your plan can be owned by a superannuation fund or outside of superannuation, by you or a legal entity. Your financial adviser can help you decide which ownership option is best for you.

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The set up of your plan depends on many variables, such as the cover type(s) being applied for, the cover amount and any additional information we may need to assess your application including your current health and medical history. At times, we may need to wait for information to be returned to us from other providers such as your doctor(s).

Importantly, purchasing life insurance with the guidance of your financial adviser, means you’re receiving expert advice and your life insurance plan is tailored to your individual needs.

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You may still be eligible for life insurance if you have a pre-existing health condition(s). Your financial adviser can help answer any questions you may have about these and guide you through the application process.

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NEOS Protection plans allow for one insured person per plan, so your partner will need to apply for insurance cover under their own plan.

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If you’re applying for life insurance, or increasing the insurance cover you already have, it’s important you tell us about any change in your health or financial circumstances. If during this process, you’ve forgotten to tell your adviser something about your health, we recommend you contact them as soon as possible to discuss. Alternatively, you can contact us directly by phoning us on 1300 090 188 or sending an email to customerservice@neoslife.com.au

Once you have been accepted for insurance cover, you don’t need to update us of any changes to your health, financial circumstances or occupation.

Tags: About my plan

Your plan starts when your application has been assessed and approved by us, and we have received the first premium. As soon as your cover is approved, a welcome letter will be sent to you via email, along with a plan schedule outlining the full details of your cover, including your plan’s commencement date.

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You can access a copy of the Product Disclosure Statement here

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We know that life is constantly changing, and you may need to make changes to your plan from time to time. In many cases, general plan alterations such as changes of address or bank account details can be completed over the phone. For more complex plan alterations, we may require additional information. Either way, simply call us on 1300 090 188 or email us at customerservice@neoslife.com.au and we’ll do our best to make the process easy for you.

Tags: About my plan

Yes, you can cancel your plan if you no longer need it. You can let your adviser know or simply call us on 1300 090 188 or email us at customerservice@neoslife.com.au and we’ll let you know what you need to do.

Tags: About my plan

If you cancel your plan during the cooling-off period, provided you have not made a claim, your plan will be cancelled from the commencement date and we’ll refund any premiums you’ve paid. If your cover is inside superannuation, your refund may be required to be preserved within superannuation.

If you cancel your plan after the cooling-off period, premiums are not refundable.

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Yes, your NEOS Protection plan covers you 24 hours a day, anywhere in the world.

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Guaranteed renewable means that we guarantee to renew your cover each year until it expires, provided premiums are paid when due. This means we won’t cancel cover, place further restrictions on it or increase premiums because of changes to the insured person’s health, occupation or pastimes.

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Any future improvements to the benefits provided under your NEOS Protection cover type(s) will be made available to you, provided they don’t result in an increase to your premium and don’t disadvantage you in any way.

Any improvements will apply to future claims. They won’t apply to current claims, or to claims resulting from an illness, injury or disability, which occurred before these improvements come into effect.

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Interim accident cover is designed to provide you with limited cover while your application is being assessed by us and is available free of charge. It starts as soon as we receive your fully completed application form, a completed personal statement and a completed premium deduction authority.

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Premium payments for NEOS Protection plans are paid through direct debit, either by credit card or debit card, ensuring you don’t accidentally forget to pay your premiums.

You can choose to pay your premium monthly or yearly. If you pay your premium monthly, we’ll apply a premium frequency loading to your premium, which helps cover the costs of collecting your premium on a more frequent basis.

Tags: About my plan

If you can’t afford to pay your premiums, please contact your financial adviser, call us on 1300 090 188 or email us customerservice@neoslife.com.au, and we’ll let you know what options are available.

Tags: About my plan

The premium you pay may increase each year due to:

• regular age increases (if your plan has stepped premiums)
• a reduction in the new cover reward discount
• any increase in tax, duty or charge introduced by government; and/or
• if you increase your sum insured (including through the Indexation Benefit)

However, base stepped and level premiums are guaranteed not to increase in the first three years following your plan commencement date.

Each year we’ll send you an annual anniversary notice outlining your premium payable.

Tags: About my plan

We may pay your financial adviser a commission. Any amount paid is factored into the cost of your plan. Your financial adviser will provide you with a Financial Services Guide and where applicable, a Statement of Advice, which will detail the benefits they receive for setting up and helping to manage your plan.

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We’re here, along with your financial adviser, to support you through the claims process. If you need to make a claim, we’re here to support you with personalised and compassionate attention every step of the way.

We’ll do our very best to make the process easy, and once claim conditions are met, get you paid as quickly as possible.

Tags: Claims

We promise to let you know the outcome of your claim as soon as possible. But assessing your claim may, in some instances, depend on circumstances that are outside of our control. Some claims are simple, but other claims are more involved and depend on how promptly we’re able to obtain information from you and from any relevant doctors or other third parties.

When providing details about your claim to us, it’s best that you provide as much detail and clarity as you can. This will help us assess your claim as soon as possible.

Tags: Claims

Yes, it’s important to continue paying your premiums while your claim is being assessed to ensure your cover is not cancelled.

Tags: Claims

If you’re legally competent to apply for a claim and your claim is approved, all benefits will be paid to you or your legal personal representative. In the event that you’re judged not legally competent, we’ll pay the benefits to whomever we’re legally permitted to make payments. If your claim is approved, all benefits will be paid to you or your legal representative.

If your plan is owned by a trustee of a complying superannuation fund, and your claim is accepted, all benefits will be paid to the trustee.

Tags: Claims

If you’re concerned about the way your claim is progressing, or disagree with our response to your claim, please talk to your NEOS claims consultant first. If they cannot resolve your issue, you can have the issue reviewed by our claims manager or Claims Review Committee.

Should you remain unhappy after our internal review, you can have an external body like an ombudsman or a regulator try to resolve the issue. We’ll provide you with information about the options available and how you can contact the relevant organisation.

Tags: Claims

If you’ve made a claim, you can generally access all the information we hold about you, except for certain instances, as per privacy legislation, where we need to provide information directly to your doctor, instead of providing it directly to you.

Simply call us on 1300 090 188 or email us at claims@neoslife.com.au and we’ll organise to send a copy of your claims file to you.

Tags: Claims

NobleOak is the issuer of NEOS Protection and is an Australian Prudential Regulation Authority regulated friendly society with more than 140 years’ experience.

Tags: About our business partners

All NEOS insurance products are reinsured by Pacific Life Re – 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 153-year history through their ultimate parent company, American life insurance giant, Pacific Life. Pacific Life has assets in excess of US$191 billion, net assets in excess of US$1.2 trillion and paid over US$3 billion dollars in benefits in 2020.  Our customers can be confident that the financial strength and stability of our partners means they’re in safe hands.

Tags: About our business partners

At NEOS, we make every effort to try and resolve your complaint as quickly and as fairly as possible.

If you have a concern or complaint, please contact us in the first instance on the below details.  We’ll endeavour to manage this to your satisfaction without undue delay.  We’ll make sure we call you within two days of receipt of your complaint.

Call us: 1300 090 188
Email us: customerservice@neoslife.com.au

If we can’t resolve your complaint quickly, we’ll formally record the details, with your assistance, to ensure that it’s correctly understood and progressed through the appropriate channels.  This may involve external parties such as the insurer and your financial adviser.

Our complaints manager will work closely with you to resolve your complaint and keep you updated along the way. Please note that while the law allows insurance companies up to 45 days to respond to complaints (90 days for superannuation complaints), we’ll always endeavour to respond to you as soon as possible.

Tags: Complaints

If you feel we haven’t resolved your complaint to your satisfaction, you can then lodge your complaint with the Financial Ombudsman Service (FOS). FOS is an independent organisation, which provides free assistance to customers who have complaints about financial products and services.  FOS can be contacted at:

Phone: 1800 367 287
Website: www.fos.org.au
Address: GPO Box 3, Melbourne VIC 3001

Tags: Complaints