Features & benefits

New applications for Home Loan Protection are no longer accepted. 

Cover your repayments with Loan Repayment Cover

Can pay your minimum monthly home loan repayments every month (for up to 12 months) until you return to work if you're unable to work due to an injury or illness or because you lose your job involuntarily.

Loan Cover pays all or part of your balance

  • Can pay a lump sum of up to $75,000 off your home loan if you're diagnosed with a medical trauma

    Trauma cover conditions are: 
    • Cancer
    • Coronary artery disease requiring bypass surgery
    • Heart attack
    • Stroke

Trauma conditions have specific meanings and a benefit is only payable if you meet the precise meaning of the definition set out in the Home Loan Protection Product Disclosure Statement and the Loan Protection Medical Definitions Reference Guide.

  • Can pay off your remaining home loan up to $750,000 if you pass away

Flexible cover options for both types of cover

  • Reduce your premium by choosing to cover 25%, 50% or 75% of your repayments and loan balance
  • Conveniently cover one or all home loan borrowers under the one policy


How to make a claim

  • Call 13 3982 between 8am and 5pm, Sydney time, Monday to Friday
  • Our claims team may send you a claim form and a letter outlining the supporting evidence required for us to assess your claim.

Show me how

Things you should know

#Loan and age eligibility requirements and other limitations and exclusions may apply.

Home Loan Protection is issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA), a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124. The Bank does not guarantee the obligations or performance of CMLA or the products it offers. Where we refer to “we” and “our” we mean CMLA. 

Home Loan Protection Product Disclosure Statement (PDS)  is available online or from any Commonwealth Bank branch or by calling 13 3982, and should be considered in making any decision about loan protection insurance. You can also download a Financial Services Guide (FSG).

This advice has been prepared without considering your objectives, financial situation or needs. Before acting on the advice, please consider its appropriateness to your circumstances.