Tailored life Insurance - Commonwealth Bank

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Life Care

This cover can provide a lump sum payment to your beneficiaries in the event of your death. It can also provide a lump sum payment to you, if you’re diagnosed with a terminal illness that leaves you with fewer than 12 months to live.

For more information, talk to your financial planner. If you don’t have one, make an appointment with one of ours.

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Features

  • Life Care Advance Payment benefit – provides a cash advance up to $30,000 to help with the cost of a funeral or similar expenses
  • Financial Planning benefit – pays up to $5,000 to help cover the costs of seeking financial advice
  • Accommodation benefit – helps cover accommodation costs for an immediate family member who needs to be nearby if you’re confined to bed and receiving treatment a long away from home. This is payable once a claim has been finalised and paid

Trauma

At a glance

This cover can pay a lump sum to help with medical costs if you suffer any one of our specified trauma conditions such as cancer, heart attack or stroke. It’s part of our tailored insurance range.

For more information, talk to your financial planner. If you don’t have one, make an appointment with one of ours.

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Features

  • Helps cover the medical costs and lessen the severe lifestyle changes that result from any of 48 major illnesses or injuries, such as heart attack, stroke, cancer or blindness
  • Can be purchased on its own or combined with Life Care or Total and Permanent Disability (TPD)

Total and Permanent Disability

At a glance

This cover can pay a lump sum of up to $5 million if you suffer total and permanent disability, and is part of our tailored insurance range.

For more information, talk to your financial planner. If you don’t have one, make an appointment with one of ours.

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Features

  • Can be purchased on its own or combined with Life Care
  • Automatically includes a range of benefits, including Death cover, Interim Accident cover, Loyalty Bonus beneifit and Accommodation benefit 

Income Protection

At a glance

This cover can replace up to 75% of your regular income and superannuation contributions if you’re unable to work due to illness or injury.

For more information, talk to your financial planner. If you don’t have one, make an appointment with one of ours.

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Features

  • Customise your protection level, premium, waiting period, benefit payment period and the portion of your income to insure
  • Premiums are generally tax deductible, depending on your circumstances

Business Overheads

At a glance

Cover your business overheads if you are unable to work due to sickness or injury.

For more information, talk to your financial planner. If you don’t have one, make an appointment with one of ours.

 

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  • Designed for self-employed people
  • Covers regular, fixed operating expenses of your business if you can’t work due to sickness or injury

Not what you’re looking for?

Apply for cover that can help with life-changing events.
Cover is available to Australian permanent residents aged 18-50,
with no medical questions asked.

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FAQs

The Super Payment Method allows you to pay your Total Care Plan Super premiums via a partial rollover from your super fund.

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The SMSF Plan is a purpose-built insurance plan for members of a Self-Managed Superannuation Fund, offering life insurance, TPD, accidental death and income protection cover held inside super.

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Split TPD is a way to structure your TPD policy both inside and outside super which could increase the likelihood of your benefit being paid.

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You can find the answers to your Life Insurance questions by checking out the full list of FAQs.

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If you’re investing in property, making sure you have the right insurance to protect your investment is essential.

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Merging your money is a big decision and making sure you have the right personal, car and home and contents insurance is a key component.

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1. Gather financial statements – including insurance policies

2. List all monthly expenses

3. If you pay insurance annually, divide the cost by 12

4. Weigh expenses against monthly income

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Important information

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.

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