Insure your card

A credit card offers a very convenient method of payment but what do you do if you lose your income or suffer an injury and can’t afford your repayments?

Peace of mind with payment protection insurance

CreditCard Plus is an affordable insurance option that gives you peace of mind in the event that the unforeseen should happen.

It will help you meet your minimum monthly credit card repayments if you suffer total temporary disablement due to an injury or illness or you become involuntarily unemployed. It will also pay the outstanding balance on your credit card account, up to a maximum of $15,000, if you become totally and permanently disabled, or die, which means your family members will not be left to pay off the debt.

Low-cost premiums

The premium is just 45 cents for every $100 of your monthly closing balance on your statement. So, if you have a closing balance of $300, your premium for that month is only $1.35 (automatically charged to your credit card). And if your closing balance is $0, so is your premium. You only pay for the cover you need. What’s more, your cover is pre-approved, acceptance is guaranteed and no medical examination is required.

For more information on benefits, terms and exclusions, please read the CreditCard Plus Product Disclosure Statement (PDF 86KB).

 

• Important information
  The advice on this website has been prepared without considering your objectives, financial situation or needs. Because of that, you should, before acting on the advice, consider its appropriateness to your circumstances. CreditCard Plus is issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035. A PDS for CreditCard Plus is available by clicking here (PDF 86KB) and should be considered before making any decision about CreditCard Plus. The offer made in the PDS is currently available only to permanent residents of Australia and persons receiving the document within Australia. Applications from outside Australia will not be accepted.