Loan Protection

 

Loan Cover

This policy option includes a Death Benefit and a Terminal Illness Benefit, which provide you or your beneficiaries a lump sum payment to help pay off your loan balance in the event of your death or terminal illness. A Trauma Benefit also is available with this option and covers 10% of your loan balance should you suffer a medical trauma.

Loan Repayment Cover

This policy option includes a Disablement Benefit and an Unemployment Benefit, which provide you a monthly payment to help cover your loan repayments while you're unable to work.

How to apply

Applying for cover is quick and easy with no medical questions asked, so insuring your loan to help cover your repayments couldn't be easier.

Or visit any Commonwealth Bank branch or call 132221, option 5 to apply.

For more information on our Loan Protection cover, view our information brochure.

• Important information
  As this advice has been prepared without considering your objectives, financial situation or needs, you should, before acting on the advice, consider its appropriateness to your circumstances.
  
  Loan Protection is issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809. A Product Disclosure Statement, or PDS (PDF 856 KB), for Loan Protection is available online, from any Commonwealth Bank branch or by calling 13 10 56 (from overseas, call +61 13 10 56) and should be considered in making any decision about Loan Protection.
  
  The offer made in this PDS is currently available only to persons receiving this document within Australia. Applications from outside Australia will not be accepted. Business Insurance Associates are representatives of The Colonial Mutual Life Assurance Society Limited (CMLA) ABN 12 004 021 809.
  
  Commonwealth Financial Planners are representatives or authorised representatives of Commonwealth Financial Planning Limited ABN 65 003 900 169 AFSL 231139, a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124.