Insurance


Home Insurance - Building and contents insurance

Q.  Does CommInsure take my age into account when calculating my premium?

A. CommInsure has a number of rating factors which are used to determine your Home Insurance premium, one of these being age based rating.

The age of the oldest policyholder is used to calculate your premium. For more information on the rating factors used to calculate your premium, please refer to the Product Disclosure Statement page 23 - 'How we calculate your premium'

Q. Do I need to have confirmation of ownership for my contents items?

A. Yes. When you submit a claim with us we will request reasonable confirmation of ownership as this will help us ascertain the value and replace the item(s) with the closest possible match. The types of confirmation of ownership we ask for may vary from item to item, or situation to situation.

The types of confirmation of ownership that we may request include but are not limited to:

receipts

warranty certificates

valuation certificates

instruction manuals

spare parts for the item

original packaging              

photos

tenancy agreements; and 

credit card and/or bank statements.                                                                                     

It is important to note that the more information you are able to provide about the contents items you have lost will help us to be able to determine your claim. If you do not provide us with sufficient proof, we may refuse to pay all or part of your claim.

Q. If I need to claim under both building and contents cover, do I pay an excess for both the building and contents components?

A. No. If you have selected both Building and Contents cover under either the Investment or Residential Home Package you only pay one excess when:

your claim relates to both the building and your contents  

the loss is a result of the same insured event, and

your building and contents are insured on the same policy. 

For example; If you have a $100 excess on your building and a $200 excess on your contents, you would pay $200 (the higher of the two excesses).

If however, you have selected Portable Contents cover under the Residential Home Package and submit a claim for your Building, Contents and Personal Contents you are required to pay two excesses. The higher excess on either your building and contents cover and the excess that applies to your Personal Contents cover.

Q. Why is there so much variation in pricing between insurance companies?

A. Insurance companies take into account a number of different factors when they calculate how much a policy will cost, including:

where the property to be insured is located,

how the property is constructed and when,   

the type of policy coverage in place,

how much it would cost to replace the property; and

who lives in the property.   

Each insurer will have different experiences regarding these factors and different types of insurance cover available. As each customer, insured property and insurance cover offered is different there can be variations in price.

It is important for you to check the type of insurance policy being purchased to make sure it has the level of protection you need.

Q. How do I lodge a home insurance claim?

A. You can lodge a claim online by clicking on the link below and completing your claim details.

A summary of your claim advice will appear once completed, please print this page as a record of your claim. We will contact you within 3 working days to confirm the details.

Lodge your claim

You can also lodge your claim over the phone by calling 13 2423 as soon as possible with the full details of any loss, damage, or anticipated or alleged liability. Please have your policy number to quote when you call.  

Q. How important is it that I respond to the insurance application questions honestly?

A. We have written our questions to ensure that, in most cases, we get everything we need to make a decision on whether we can insure you. It is important that all our questions are answered honestly and completely. If you don’t know the answer to a question, please find out before completing your application, as this helps us get a full picture of who and what you are asking us to insure.

On the rare occasion we need more information on a particular question, your application will refer to our underwriters prior to a decision being made. Our underwriters will discuss with you your individual situation and determine whether your policy can be accepted and, if so, on what terms – this may include reduced cover or a higher excess.

They will call you on the contact number/s you have provided within 1 business day. If you need a more immediate answer, please call our General Insurance Contact Centre
on 13 2423.

Q. What information do I need when I call to lodge a claim?

A. Wherever possible, you should have your CommInsure home or car insurance policy number with you, as this will help us identify your policy quickly. If you don’t know your policy number, you’ll need to tell us the full names of the insured and the address of the insured property.

If the claim relates to a car, you’ll need to quote the vehicle registration number. You’ll also need to provide us with all phone numbers, including mobiles, you can be contacted on. If you are not currently staying at your usual residence you will need to advise us of where you can be reached so we can arrange a suitable time for the damage to be inspected.

Q. What else can I do to assist the claims process?

A. Try to prioritise what needs to be fixed so we can address your most immediate needs as quickly as possible.

Q. If the damage to my home is quite severe, can I contact a tradesperson to carry out emergency repairs?

A. You should contact your local SES for emergency repairs in the first instance. If the SES are not readily available, and you need to act quickly to prevent further damage, you can organise emergency repairs with an available tradesperson. Our assessor will inspect your property and arrange quotes with tradespeople for the permanent repairs on your behalf.

Q. If I don’t want to wait for an assessor, can I speak to a tradesperson and get a quote for the damage now before the assessor arrives?

A. Yes, you can obtain a quote for the damage from a tradesperson. However do not authorise any repairs or work to be carried out until our assessor has inspected your property unless they are emergency repairs to prevent further damage. Please retain a copy of any quotes so they can be passed onto our assessor.

Q. My home is un-liveable and I have nowhere else to stay – can you help me with accommodation?

A. Where you have CommInsure buildings cover and we accept your claim, we will pay reasonable temporary accommodation costs. Please advise us of your accommodation situation when you lodge a claim and we will advise you how much we will pay.

Q. How long before an assessor will be able to inspect my property/home?

A. Unfortunately, it is difficult to say. Factors such as extent of the damage and accessibility need to be considered. We have local assessors on board and can bring in assessors from other regions as well as from interstate if necessary, to ensure all properties are inspected and repairs carried out as quickly as possible.

Q. Can I get an emergency claim payment now to cover my immediate ongoing expenses?

A. Yes, under certain circumstances we will make emergency payments. This decision is made once we accept your claim and is subject to your particular situation.

Q. My property is starting to smell – can I start the clean up process without an assessor having inspected my property?

A. Yes, you can remove damaged items but you must make sure you take photographs or video footage of the damage before removing it. Once you’ve removed the damaged items do not throw them away unless they are food or they create a potential health hazard. Keep them somewhere on your property so the assessor can inspect them and verify your claim.

Home Insurance – cover for flood

Q. What does flood mean?

A. The Australian Government introduced a standard definition of ‘flood’. This wording has been adopted by CommInsure and the meaning is defined as:

‘Flood’ means the covering of normally dry land by water that has escaped or been released from the normal confines of:

any lake, or any river, creek or other natural watercourse, whether or not altered or modified; or

any reservoir, canal, or dam.

Q. Am I covered for flood?

A. From 25 March 2013 CommInsure will release a new Product Disclosure Statement (PDS) with changes which include the provision of cover for flood. If your policy is purchased on or after this date flood cover will be included.

Terms and conditions apply to this cover and you should read the PDS to understand these. 

For more information about what is covered under Home Insurance policies, please refer to the CommInsure Home Insurance PDS CIL1516 dated 18 February 2013.

CommInsure Home Insurance policies purchased before 25 March 2013 will be automatically upgraded to include cover for flood. This additional cover applies from midnight on 25 March 2013 for the remainder of the Period of Insurance noted on your current Certificate of Insurance.

Existing customers will receive a letter explaining how the new cover for flood will apply to their policy. Terms and conditions apply to this cover and you should read the PDS to understand these. 

For more information about what is covered under Home Insurance policies, please refer to the CommInsure Home Insurance PDS CIL410 dated 08 May 2007.   

Q. Which policies include cover for flood?

A. From 25 March 2013 all CommInsure Home Insurance policies will include cover for flood, this includes:

Residential home package

  • Buildings cover; and/or
  • Contents cover; and/or
  • Portable contents cover

Investment home package

  • Buildings cover; and/or
  • Contents cover

For more information about what is covered under Home Insurance policies, please refer to:

Q. When will be I charged for cover for flood?

A. From 25 March 2013, when you apply for, or renew your existing cover with CommInsure the insurance premium quoted is inclusive of flood cover. Should you choose to proceed with the quote or renewal offer and insure with us, you will be receiving cover for flood automatically from your policy start date.

If your insured address is not in a location that has been assessed as being flood-prone, you will not experience a premium increase related to flood cover.

Q. How much does cover for flood cost?

A. There is no set price for flood cover as the risk of a flood occurring and the severity of the flood varies Australia-wide. The cost of cover for flood is determined by a number of factors including: 

the location of your insured address;

your building type and the  materials that have been used to construct your home;

how often a flood is expected at your insured address and how severe the flooding is likely to be.

Q. Can I remove cover for flood from my policy?

A. No, ‘flood’ is a standard non-removable Insured Event on all CommInsure Home Insurance policies. This approach will provide greater clarity around what is covered and what is not covered by the policy. For many customers it reduces the risk of serious financial loss should a flood occur.

Q. Along with cover for flood, are there any other changes to the CommInsure Home Insurance Product?

Yes, a number of changes have been made to the CommInsure Home Insurance product. For example, if your policy is issued on or after 25 March 2013, Total Building Replacement Cover (TBRC) will no longer apply to Building Cover.

Instead, you are entitled to receive a new benefit we call ‘Gap Cover’ under our new PDS which applies to both Building and Contents Cover.  If the costs for repairing, replacing or rebuilding your building and/or your contents exceed the sum insured stated on your Certificate of Insurance, we will pay up to a further 25% of your sum insured.

Gap cover does not apply to:

Portable contents cover;

Domestic workers’ compensation cover; and

Legal liability

Other changes to the policy have been made and full details are contained within the CommInsure Home Insurance PDS CIL1516 dated 18 February 2013.

Q. How do I calculate the right sum insured?

A. You will be asked to nominate your sum insured for your Building, Contents or Portable Contents cover depending on the covers you need. It is important to make sure these are as accurate as possible because they represent the maximum amount we will pay in the event of a claim, subject to any entitlement to Gap Cover (see above FAQ). Your nominated sum insured is documented on your Certificate of Insurance.

The building sum insured should equal the current cost to rebuild, inclusive of GST, and all improvements (for example garages, driveways and verandas). You should also include an amount for all associated rebuilding costs such as architectural, engineering, surveying, construction and legal fees.

The contents sum insured should equal the current cost of replacing all your contents inclusive of GST.

You are responsible for determining the sum insured for your building and/or contents. To assist you, there is an online calculator below which can help you estimate the replacement cost of your building and/or contents based on your responses to questions we ask.

We encourage you to regularly check that your insured values are accurate.

Access the relevant calculators below.

Building insurance calculator

Contents insurance calculator

Q. Where can I get more information about Cover for Flood?

For more information please refer to the CommInsure Home Insurance PDS CIL1516 dated 18 February 2013, or you can contact CommInsure by:

calling 13 2423 between 8am and 8pm (Sydney time), 7 days a week 

emailing contactus@comminsure.com.au; or

writing to PO BOX 315, Silverwater, NSW 2128.

Car Insurance

Q. My 19-year-old son only drives the car occasionally. Does he need to be listed as a nominated driver?

A. Yes. Adding an under-25yr old driver dramatically increases the risk CommInsure is exposed to. To correctly price, they need to know the total risk so they can charge the correct premium. This allows premiums to be fairly distributed and ensures that not all customers are charged for others who pose a higher risk of having an accident.

Q.Is my No Claim Discount affected if I make a claim for windscreen or window glass damage?

A. Your No Claim Discount entitlement is not affected if your claim relates to the cost of repairing or replacing the windscreen or window glass in the vehicle if it is accidentally broken. An excess may apply if the Windscreen Option is not selected when you take out your policy.

Q. If I choose to restrict cover to drivers over 30 to reduce my premium, would I be covered if, in an emergency, someone under 30 was to drive the car?

A. The restriction will apply regardless of the circumstances surrounding the need for a person under 30 to drive the vehicle. This includes emergencies. If it is an emergency, an ambulance should always be called in the first instance. The only exception is valet car parking or service and repair people.

Q. If I hold Car Insurance with CommInsure would I be covered for the damage I cause to property such as street lights?

A. All our car insurance policies include legal liability to pay compensation for loss or damage to someone else’s property caused in a motor vehicle accident which is partly or fully the insured’s fault. This includes street lights, fences or damage to property. As with all claims, some exceptions may apply.

Q. What happens to my Car Insurance cover while I am in the process of selling my car and purchasing a new one?

A. CommInsure will provide temporary cover if you permanently replace your vehicle in the period of insurance from the date of purchase to a maximum of 14 days, if you:

provide the full details of the replacement vehicle within the 14 days of taking ownership of the vehicle

receive an agreement from CommInsure to cover the replacement vehicle, and

pay any additional premium required.

The temporary cover applying to the replacement vehicle is the same as the cover applying to your vehicle.

Q.  I have just bought a new car. How does the ‘replacement of a new vehicle after a total loss’ benefit work on my Car Insurance policy?

A. If you are the first registered owner of the vehicle and your vehicle is a total loss within the first 24 months of the original registration as a result of an insured event in the period of insurance and CommInsure has accepted a claim for the loss of the vehicle, then the following will apply.

If a replacement vehicle is available within Australia, CommInsure will:

replace the vehicle with a vehicle of the same make, model, and series

replace any modifications, options, accessories or fittings that are fitted to the vehicle and are stated on your Certificate of Insurance, and

pay the on-road costs including the first twelve months’ registration and Compulsory Third Party (CTP) insurance.

Any refund you obtain from the original registration and CTP insurance must be paid to CommInsure. If CommInsure replaces your vehicle under this benefit, the policy will continue to cover the new replacement vehicle until the end of the period of insurance. No additional premium will be payable.

If a replacement vehicle is not currently available within Australia, we will pay either the market value or agreed value of the vehicle, whichever is shown on your current Certificate of Insurance. If CommInsure pays either the market value or agreed value, the policy will come to an end and no refund of premium will be payable. 

Q. Do I have a choice to insure my car for market or agreed value?

A. Yes, you have a choice to insure your vehicle for either an agreed value or the market value. The difference between the two is as follows:

Agreed value means the amount CommInsure agrees to insure the vehicle for.

Market value means the amount it will cost to replace the vehicle, taking into account the age, make, model and the condition of the vehicle immediately prior to the loss or damage.

Q. What should I do if I have an accident and need to claim against my Car Insurance?

A. Call 13 2423 as soon as possible with the following details:

Full details of any loss, damage or anticipated or alleged liability 

The name, residential address and contact phone number of any driver(s) in the accident

The registration number of any other vehicle(s) involved in the accident

The name and address of any witness(es) to the accident. 

Notifying the police 

Depending on the legal requirements of the state or territory where the loss or damage occurs, you must: 

Contact the police at the time of the event if any person was injured as a result of the event

Request the police be present at the scene of the event; or 

Complete a ‘Self Reporting Collision Form’ at the local police station. You should only do this if, at the time of contacting the police, they inform you that it is not necessary for them to be present at the scene of the event. 

Our Claims Service Line is available 8am – 8pm (Sydney Time), 7 days a week. 

Our Emergency Claims Assistance line is available 24 hours a day, 7 days a week.

Q. What should I do if my car is stolen or maliciously damaged and I need to make a claim against my Car Insurance?

A. If your car is stolen or maliciously damaged, you should: 

Contact the police immediately

Do everything reasonable to limit and prevent further loss or damage

Call 13 2423 as soon as possible to report the incident, providing full details of any loss, damage or anticipated or alleged liability. Also provide the full name, residential address and phone number of any drivers, passengers and witnesses involved.  

Our Car Insurance Claims Line is open 8am to 6pm (Sydney time) Monday to Friday and 8am to 3pm (Sydney time) Saturday. 

Calls outside these hours will be directed to our Emergency assistance line which is open 24 hours a day, 7 days a week.

Loan Protection

Q. What is Loan Protection?

A. Loan Protection is an optional insurance that can help meet your loan obligations by:

Helping to pay your loan off if you die or become terminally ill

Helping to pay up to 10% of your loan if you suffer a medical trauma

Helping to cover your minimum monthly loan repayments for a set period if you are unable to work due to illness, injury, sickness or involuntary unemployment.

Please read the Loan Protection Product Disclosure Statement and Policy Document (PDS) for more information about this product.

Q. How often do I need to make payments on my Loan Protection policy?

A. You must pay your Loan Protection premiums in advance, every month. You can pay by direct debit from a bank account or by credit card (Visa or MasterCard only).

Q. Will my Loan Protection premium ever change due to my age?

A. The premium rates for Loan Protection are level, meaning they do not increase with age, therefore the same premium is charged every month (unless you change your policy). Premium rates are reviewed from time to time and are subject to change.

Q. What’s the difference between Loan Cover and Loan Repayment Cover?

A. Loan Protection offers two types of cover to protect against the unexpected. You can choose to take either or both of these options:

Loan Cover
This option includes a Death Benefit and a Terminal Illness Benefit, which can help pay off your loan balance in the event of your death or terminal illness. A Trauma Benefit is also available with this option and pays up to 10% of your original loan amount should you suffer a medical trauma.

Loan Repayment Cover
This option includes a Disablement Benefit and an Involuntary Unemployment Benefit, which can help you meet your minimum monthly loan repayments for a set period if you are unable to work.

Find out more information about Loan Protection.

Q. If I increase (top up) my Home Loan, does my level of cover for Loan Protection automatically increase?

A. No. Your level of Loan Protection cover will not change if you top up your existing loan.

If you would like to increase or change your level of cover, please contact your local branch lending specialist.

Q. If I make a principal reduction on my home loan, does my Loan Protection cover automatically decrease?

A. No. Your level of Loan Protection cover will not change if you make a large payment to your existing loan.

If you would like to decrease or change your level of cover, you will need to contact your local branch lending specialist, or call 13 1056 between 8am and 8pm (Sydney time) Monday to Friday, option 2, then option 3.

Q. What happens to my Loan Protection cover when I pay off my loan?

A. If your policy commenced prior to May 17, 2010, your cover continues and you or your estate can claim the full sum insured in the event of your death or terminal illness. Alternatively, you can choose to cancel the cover by calling 13 1056 between 8am and 8pm (Sydney time) Monday to Friday, option 2, then option 3.

If your policy commenced on or after May 17, 2010, it will be automatically closed once your related loan is closed.

Q. I think I might have Insurance with my mortgage already?

A. Loan Protection is different to Lender’s Mortgage Insurance.

Loan Protection supports you as the borrower and can help cover loan repayments for a set period should you be unable to work in certain circumstances.

Lenders' Mortgage Insurance (LMI) is insurance that protects the Bank against the potential loss it may incur if you are unable to repay your home loan.

Find out more information about Loan Protection. 

Q. How do I make a claim against my Loan Protection policy?

A. If you need to make a claim, please call 13 1056 between 8am and 8pm (Sydney time) Monday to Friday, option 2, then option 1 to speak to a Customer Service Specialist.

The Customer Service Specialist will ask you to complete a claim form, so that your claim can be assessed as quickly and accurately as possible.

Q. If I cancel the Loan Protection policy within 14 days will I get a refund?

A. Yes. If you cancel your Loan Protection policy within the 14 day cooling off period you will receive a refund of any premiums paid. However, after this period no refunds are applicable.

Q. How do I change my direct debit payment details for my Loan Protection premiums?

A. You can call 13 1056 between 8am and 8pm (Sydney time) Monday to Friday to provide your new credit card or bank account details. 

Q. Do the people insured under Loan Protection need to be the same as the borrowers on the loan?

A. Yes. The borrowers on the loan are the only people who can be insured under Loan Protection. You can however select different combinations of cover.

Please refer to the Loan Protection PDS for more information and consider how this may affect your future financial situation.

Q. When can I take out Loan Protection?

A. The easiest way to apply for Loan Protection is when you apply for your loan, or top up your loan. You can however apply for Loan Protection at any time.

You can apply online, or visit any Commonwealth Bank branch or call 13 2221 at any time, option 5, then option 5.

Q. If I am in the process of making a claim on my Loan Protection policy, do I still need to continue paying my monthly premium?

A. Yes. To ensure that you remain covered for Loan Protection, you must continue to meet your monthly payments.

Q. What is the fastest way to return my Loan Protection claim form?

A. You can scan and email your completed claim form to DirectLifeClaims@cba.com.au. Please remember to include any supporting documentation requested to support your claim.

Alternatively, you can fax your claim form and documentation to (02) 9115 8414 or send it to:

CommInsure Life Insurance Services

PO Box 309

Silverwater NSW 2128.

Q. Who can help me with my Loan Protection claim form?

A. For assistance with your Loan Protection claim form, please call 13 1056 between 8am and 8pm (Sydney time) Monday to Friday, option 2 then option 1.

Q. What other options do I have if the Loan Protection does not cover my situation?

A. If your situation is not covered by Loan Protection and you are experiencing difficulty in meeting your monthly loan repayments, please call our Customer Assist team on 1300 720 814 between 8am and 9pm (Sydney time) Monday to Friday or between 9am and 2pm on Saturday.

They will assess your current personal circumstances and, where appropriate, provide solutions tailored to your needs.

CreditCard Plus

Q. What kind of repayment insurance is available for my credit card? 

A. We have an optional card repayment insurance, called CreditCard Plus that:

can help pay 7% of your outstanding credit card balance each month for a set period, which is  over three times the minimum amount due, if you can't work due to illness, injury or involuntary unemployment

can help pay off the entire credit card balance (up to $25,000) plus the same amount as a cash assistance benefit to you or your estate in the event of death, terminal illness or permanent disablement.

Find out more about CreditCard Plus.

You can apply for CreditCard Plus insurance online, in branch, or by calling 13 2221 at any time, option 5, then option 5.

Q. How is the premium calculated for CreditCard Plus?

A. CreditCard Plus costs just $0.55 for every $100 of the closing balance on your monthly credit card statement date (that is, the date your credit card statement is issued) each month. This is different to the payment due date.

For example, if your statement closing balance is $1000, your insurance will cost $5.50 for the month. This amount appears as a charge on your credit card statement.

Find out more about CreditCard Plus.

Q. How do I submit a claim for CreditCard Plus insurance?

A. If you need to make a claim, please call 13 1056 between 8am and 8pm (Sydney time) Monday to Friday, option 3, then option 1 and speak to a Customer Service Specialist.

The Customer Service Specialist will ask you to complete a claim form, so that your claim can be assessed as quickly and accurately as possible.

Q. What other options do I have if CreditCard Plus does not cover my situation?

A. If your situation is not covered by CreditCard Plus and you are experiencing difficulty in meeting your monthly credit card repayments, please call our Customer Assist team on 1300 720 814 between 8am and 9pm (Sydney time) Monday to Friday, or between 9am and 2pm on Saturday.

They will assess your current personal circumstances and, where appropriate, provide solutions tailored to your needs.

Q. If I resign from my job will I be eligible to make a claim under CreditCard Plus?

A. CreditCard Plus does not provide cover if you choose to resign from your job. You are only eligible to make a claim if you become involuntarily unemployed (i.e. because your employer terminated your contract or made you redundant).

If you become involuntarily unemployed, you will need to provide a copy of your Employment Separation Certificate and documentation confirming that you are looking for work.

For more information, please refer to the CreditCard Plus PDS.

Q. If I am in the process of making a claim on my CreditCard Plus policy, will I continue to be charged a monthly premium?

A. Yes. Whilst there is an outstanding balance on your credit card you will continue to be charged a premium.

Life Insurance

Q. Why does my insurance cost more each year? 

A. Premiums generally increase each year due to the following reasons.

Stepped premium rate
If you selected a Stepped premium rate, the cost of insurance generally increases each year as you get older because we calculate your annual premium when you first take out cover and then recalculate it every year using your new age. This is because as you get older, your risk increases.

Automatic indexation
Each year your level of cover is automatically increased to help your insurance keep pace with inflation. So your premium will also increase because you now have more cover.

For more information please refer to the relevant PDS.

Q. What premium rates are available for my insurance policy? 

A. Stepped premium rate
If you select a Stepped premium rate, your premium will generally increase each year because we calculate your annual premium when you first take out cover and then recalculate it every year using your new age. This is because as you get older, your risk increases.

Level premium rate
If you select a Level premium rate, your premium each year will be based on your age next birthday as at the date your application is accepted. It offers more certainty than a Stepped premium rate over the life of the policy, making it easier for you to plan your budget.

This means your premium is not linked to you getting older and will usually remain the same for the life of your policy unless you make changes to your cover or if we adjust our premium rates for all our customers.

Q. At what age am I eligible to take out a life insurance policy? 

A. The eligibility age for Life, TPD and Trauma cover depends on the premium rate selected.

If you choose a Stepped premium rate, you must be in the following age range to apply:

  • Life: 17 to 69
  • TPD: 17 to 59
  • Trauma: 17 to 62

If you choose a Level premium rate (all insurance types) you must be aged from 17 to 54 to apply.

Child Cover

Your child or children must be aged 2 to 16.

For information on premium rate types available, see question above, “What premium rates are available?”

Q. At what age am I eligible to take out an income protection policy? 

A. The eligibility age for Income Protection, including Essential Cover and Business Overheads Cover (i.e. Income Care or Income Care Plus policy) depends on the type of premium rate selected and may be affected by your occupation.

If you choose the Stepped premium rate, you must be 17 to 59 except for the following occupation classes;

  • Aviation: 19 to 54
  • Specialist risk: 17 to 49

If you choose the Level premium rate, you must be aged from 17 to 54 to apply.

For information on premium rate types available, see question above, “What premium rates are available?”

Q. Does my insurance cover me if I am overseas? 

A. Once your policy is issued, subject to any specific exclusion, it will cover you 24 hours a day, wherever you are in the world.

Q. How do I apply for insurance? 

A. You can apply for insurance by contacting your financial adviser and completing an application.

If you don’t have a financial adviser, a Commonwealth Financial Planner may be able to help you. To arrange a no-obligation consultation, simply call 1800 241 996.

Alternatively you can Make an appointment online, or visit any Commonwealth Bank branch for assistance.

Q. How frequently can I pay my insurance premium? 

A. You can pay premiums monthly, quarterly, half-yearly or annually.

If you decide to pay by direct debit, your financial institution may charge you for setting up and making direct debit payments. Your financial institution can provide more information.

If you choose to pay your premiums more frequently than annually, a frequency charge will be added to your premium to cover the cost of administration.

Below is a summary of the various payment options and the applicable frequency charges.

For the latest information, please refer to the relevant PDS.

Premium payment frequency Cheque Direct debit Credit card Frequency charge

Monthly

8% of annual premium excluding policy fee

Quarterly

8% of annual premium excluding policy fee

Half-yearly

4% of annual premium excluding policy fee

Annually

Nil

 

Q. Can I nominate who receives my insurance benefits if I die? 

A. Cover outside super
You may nominate up to five beneficiaries to receive death proceeds from your Life Care. Your valid nomination will ensure that the death claim proceeds payable under the policy will be paid in the designated portions directly to the nominated beneficiary/ies.

Cover inside super
If you have a Total Care Plan Super policy you may make either a non-binding or binding nomination.

  • Non-binding nomination

The Trustee will consider your nomination but has discretion to determine how the death benefit is paid.

  • Binding nomination

This gives you greater certainty about who will receive your benefit when you die, however this nomination lapses after three years so you must keep this nomination up to date.

For more information please refer to the relevant PDS.

Q. How do I make a claim on my insurance policy? 

A. Please notify CommInsure of any claim immediately after the claim event occurring.

If you need to make a claim, you can either contact your Financial Adviser or call
13 1056 between 8am and 8pm (Sydney time), Monday to Friday. Your claim will be assigned to a case manager who will be responsible for managing your claim.

After the initial discussion, you will be sent a Claims Kit. Depending on the type of claim, this kit may contain:

  • details of the claims management process
  • answers to commonly asked questions
  • forms that are relevant to your situation, and
  • our requirements for assessing the claim.

Once the case manager has received and assessed all the relevant information they will decide whether to accept or decline the claim, and advise you promptly of their decision.

Q. What are the different options of cover available for my insurance policy? 

A. There are different options available to provide protection to you and your loved ones and CommInsure has a range of products to suit your individual circumstances. These include:

Life Care
Pays a lump sum payment in the event of death or diagnoses of a terminal illness.
Find out more.

Total and Permanent Disability (TPD)
Pays a lump sum of up to $5 million if you are totally and permanently disabled due to illness or injury.
Find out more.

Trauma*
Pays a lump sum of up to $2 million if you suffer from a specified medical condition, regardless of whether you are prevented from working or not.
Find out more.

Income Protection
Helps replace lost income by providing up to 75% of your income if you are sick or injured and are permanently or temporarily unable to work.
Find out more.

Essential Cover (Accident only income protection)
Helps replace up to 75% of your income, if you’re unable to perform all or part of your occupation, due to accidental injury only.
Find out more.

Business Overheads Cover*
Pays up to 100% of fixed operating expenses of your business if you can’t work due to sickness or injury.
Find out more.

Accidental Death Cover
Pays a lump sum cover of up to a maximum of $1 million if you die in an accident.
Find out more.

Child Cover*
Pays out a lump sum of up to $250,000 if your child dies or suffers a specified medical condition or event.

* Only available outside of superannuation.

Q. What can I do if I have a complaint about my insurance policy? 

A. Most problems can be resolved quickly and simply by talking to us. You can call
13 1056 between 8am and 8pm (Sydney time), Monday to Friday.

If you wish, you may also lodge your complaint in writing. Please send your written complaint to:

Complaints Manager
Customer Relations
Commonwealth Bank Group
Reply Paid 41
Sydney NSW 2001

Please mark your letter 'Notice of Complaint'.

Upon receipt of your complaint, the Complaints Manager will investigate the cause of your concern and respond to you as quickly as possible. If the matter cannot be resolved quickly, you will be kept informed of progress.

If you are not satisfied with the handling of your complaint or the decision, you may have the right to lodge a complaint with the Superannuation Complaints Tribunal (SCT) for cover inside super, or the Financial Ombudsman Service Limited (FOS) for cover outside super.

Q. How can I alter my payment method for my insurance policy? 

A. You can call 13 1056 between 8am and 8pm (Sydney time), Monday to Friday to alter your payment method or to provide new credit card or bank account details.

Q. How do I add, change or revoke a nominated beneficiary on my insurance policy? 

A. You can add or change a nominated beneficiary or revoke a previous nomination at any time prior to a claims event occurring.

If you would like to add, change or revoke a beneficiary, call 13 1056 between 8am and 8pm (Sydney time) Monday to Friday and the appropriate paperwork will be sent to you.

Q. How is my insurance policy affected if my smoking status changes? 

A. If your smoking status changes, it is important you tell us as it may affect your premium and the acceptance of any claims that may occur.

If you would like to change your smoking status, call 13 1056 between 8am and 8pm (Sydney time) Monday to Friday and the appropriate paperwork will be sent to you.

Q. Do I need to have a medical when I apply for insurance? 

A. When you apply for insurance you may be asked to undertake medical tests depending on the type and level of cover you are applying for, however in some cases we do not.

For example, if you are in good health, have no family history of medical conditions and apply for particular cover under a certain limit, we do not require blood testing or medical exams.

Your Financial Adviser will be able to explain any additional requirements to you or you can refer to the 'How to apply' section of the relevant PDS.

Q. I’m having trouble affording my insurance premium. What options do I have to make my premium more affordable? 

A. There are a number of ways to reduce your premium if affordability is an issue for you. 

Talk to your Financial Adviser who will be able to provide you with ‘The value of life insurance’ brochure. This brochure includes some cost effective ways to reduce your premium and your adviser can work with you to find a solution that meets your needs.

If you don’t have a Financial Adviser, a Commonwealth Financial Planner may be able to help you. To arrange a no-obligation consultation, simply call 1800 241 996.

Alternatively you can Make an appointment online, or visit any Commonwealth Bank branch for assistance.