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Commonwealth Bank media release

COMMBANK REVAMPS TRAVEL INSURANCE FOR CARDHOLDERS

  • CommBank announces simpler and more flexible international travel insurance to credit cardholders, with no minimum spend.
  • Gold, Platinum and Diamond cardholders can activate comprehensive travel insurance through NetBank at no additional cost and receive a Certificate of Insurance.
  • Commonwealth Bank and Allianz Global Assistance partner to give travellers extra peace of mind.

CommBank has announced an innovative partnership with Allianz Global Assistance to offer its Gold, Platinum and Diamond CommBank credit cardholders redesigned travel insurance with no minimum spend requirements.

In an Australian-first banking experience, customers can log in to NetBank1 to activate the comprehensive travel insurance included with their credit card, as well as buy additional benefits at a competitive price, such as cruise cover, snow cover and increased rental vehicle excess. Customers will also receive a Certificate of Insurance with a unique policy number giving them certainty of their level of protection.

David Singh, General Manager, Credit Cards, Commonwealth Bank, said: “We recognise that comprehensive travel insurance which includes medical cover is of huge importance when our customers are travelling. We also know they often purchase additional cover on top of their existing complimentary credit card travel insurance to get more certainty and cover for niche activities.”

“We’re delighted to be the first Australian bank, in partnership with Allianz Global Assistance, to offer easily activated, comprehensive insurance including unlimited medical cover, with no minimum spend required on our credit cards. By simply activating their travel insurance on NetBank, Gold, Platinum and Diamond CommBank cardholders can now see a straightforward view of their policy, so they know exactly what they’re covered for and can travel with confidence,” said Mr Singh.

Brad Smith, Chief Sales Officer, Allianz Global Assistance, said: “Our number one priority is ensuring that Australians have peace of mind when travelling. Through our partnership with Commonwealth Bank of Australia and their existing credit card offering, we want to instil the nation with confidence and provide a greater understanding about added-value benefits. We’re proud to be able to offer Australians with clearer choice, flexibility and a more tailored offering.”

Customers can also activate their insurance policy over the phone while they’re on holiday, but will need to wait three days before the benefits apply.


TRAVEL INSURANCE INCLUDED WITH COMMBANK CREDIT CARDS:

Eligible customers activating their cover will get access to a range of benefits, including:

  • Unlimited medical cover: Overseas medical assistance and hospital expenses.
  • Confirmation of cover when you activate: Including a certificate of insurance and policy number.
  • Flexibility and control: You can upgrade your insurance for a premium by adding extra cover for activities such as ski or cruise trips.
  • Protection against delays and luggage loss: Cover for the cost of delays and finding alternative travel as well as lost or damaged luggage and personal goods.
  • Protection for loved ones: Cover for a spouse and up to 10 dependents.
  • Plus many more benefits.

For more information, visit www.commbank.com.au/travelinsuranceincluded

For more information on the assistance services provided by Allianz Global Assistance, please visit: www.allianz-assistance.com.au

1Travel insurance can be activated through NetBank, in branch or over the phone.

Notes to editors

Travel insurance is issued and managed by AGA Assistance Australia Pty Ltd ABN 52 097 227 177 AFSL 245631 trading as Allianz Global Assistance on behalf of the insurer, Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 for Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945.

*Terms, conditions, limits and exclusions (including for pre-existing medical conditions and persons aged 80 years or over) apply. If you don’t activate, you’ll receive base cover which includes personal liability cover and unlimited overseas medical assistance and hospital expenses only. Commonwealth Bank of Australia does not provide any advice on this insurance based on any consideration of your objectives, financial situation or needs. Before making a decision please consider the Credit Card Insurances Product Disclosure Statement and Information Booklet. If you purchase a policy, Commonwealth Bank of Australia receives a commission which is a percentage of your premium - ask Commonwealth Bank of Australia for more details.

 

For further information please contact:

Annabelle Cottee – Commonwealth Bank
T: 02 9118 1143
E: Annabelle.Cottee@cba.com.au

Commonwealth Bank Media Hotline
T: 02 9118 6919
E: media@cba.com.au