The last thing you want to do at claim time is spend time chasing up your claim. We aim to assess all claims within five business days of receiving your completed form. Your claim decision may be deferred if we need additional information to complete the claim assessment.
Our claims philosophy is simple. We’re in the business of paying claims as promised by our products. We will treat you with empathy, compassion and respect and guide you through your claim as quickly and simply as we can.
In 2019, CommInsure paid around $980 million in claims to customers under our retail, direct and group insurance policies.
If you’ve been out of action due to illness or injury, getting yourself back into the workforce can be a hard task on your own. As a CommInsure income protection customer, our full time in-house rehabilitation consultants can offer a managed process with appropriate and timely services, at no cost to you.
For our customers at claim time, we are always guided by our spirit of doing the right thing, in the right way, at the right time and with the right people. We want to make a potentially stressful experience as easy as possible, especially during the current situation. We are here to help people when they need it most.
In processing claims, we promise:
If we’re considering declining a claim, we will always offer you an opportunity to give us any information that might help us to reach a different decision. If we still decline the claim, we will offer you an opportunity for an independent review of our decision.
In addition, in the current situation, we will:
- prioritise our assessment and decision in relation to your claim; and/or
- make an advance payment to you to help ease your immediate hardship
We’re proud to support an industry initiative to ensure we don’t disadvantage customers who claim for total and permanent disability (TPD) and who might have lost their job, been stood down or who are working reduced hours as a result of COVID-19.
When assessing TPD claims, the person’s recent working arrangements are relevant, including the number of hours they worked, and whether they were in casual work before their illness or injury happened. Typically, thresholds for what defines total and permanent disability are usually stricter for people who work fewer hours.
This may disadvantage people who have lost their job, been stood down or who are working reduced hours as a result of the current situation. That’s why we’re taking steps to ensure that doesn’t happen.
Our commitment is designed to help existing customers who:
If you meet these criteria, we’ll assess your TPD claim based against the disability definition that would have been applied on your working arrangements as at 11 March 2020 (when the COVID-19 pandemic was declared).
This commitment applies to eligible TPD claims where the disability occurs between 11 March 2020 and 28 September 2020, and the claim form is lodged with us before 1 January 2021.
If you have any questions, please contact your financial adviser, or call us on 13 1056, Monday to Friday, 8am to 6pm (AEST/AEDT).
This information has been prepared without considering your personal objectives, financial situation or needs. Before acting on it, please consider its appropriateness to your circumstances. Refer to the relevant Product Disclosure Statement and Financial Services Guide for full benefit details, terms, conditions and exclusions. Life Insurance policies are issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA). CMLA is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945. CommInsure is a registered business name of CMLA. 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.
CMLA has entered into a Joint Cooperation Agreement with AIA Australia Limited (AIA) and Commonwealth Bank of Australia (CBA) for the joint operation of the CMLA and AIA businesses. AIA is part of the AIA Group, the largest publicly listed life insurance group in the Asia Pacific region with a presence in 18 markets. Whilst CBA will remain the ultimate shareholder of CMLA, under the terms of the Joint Cooperation Agreement AIA will have an appropriate level of direct management and oversight of the CMLA business.