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About Life Care

How it works

By providing a lump sum payment to your beneficiaries upon your death, Life Care gives your beneficiaries money when it's needed most. The coverage includes:

  • Terminal illness benefit -  pays you a lump sum if you become terminally ill and are likely to die from the illness within 24 months
  • Life Care Advance Payment benefit – can provide 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
  • Severe Hardship Booster benefit – an increased benefit to beneficiaries if your terminal illness or death is related to specific conditions
  • Interim Accident cover – for accidents that occur while we’re processing your application.
  • Loyalty Bonus benefit – a 5% increase in your Life Care benefit as a reward for holding your policy for five years
  • Life Care Buy Back benefit – reinstates Life Care after 12 months if it has been reduced by a previous Total and Permanent Disability or Trauma Cover claim
  • Indexed benefit – increases your cover each year in line with inflation


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For added security, you can take out additional extras. These include:
  • Child Cover – provides financial help to families if your insured child suffers a specified child trauma condition or passes away. This cover will sit alongside Life Care and/or Trauma cover. It can help provide peace of mind as it can pay a lump sum of up to $250,000 if your child dies or suffers one of 37 specified child trauma conditions. 
  • Plan Protection – ensures you don’t pay premiums if totally disabled for three months or more

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Customise your insurance

Talk to your financial planner to ensure your insurance meets all your needs and discuss customising your insurance to suit you.

If you don’t have a financial planner, you can talk to one of ours.

  • Make an appointment for a complimentary, no-obligation meeting with a professional financial planner
  • Call 1300 131 103, 8am to 7pm (AEST) business days


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Premiums for Child Cover are priced at approximately $60 per year for each $50,000 of cover*, up to a maximum of $250,000 of cover.

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You can update your payment instructions by calling us or by completing  a direct debit request form and returning to us.

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To make changes to a policy such as an increase to the sum insured, benefit periods or other changes, please speak to your financial adviser.

For a simple decrease to your sum insured, please call us.

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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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Related products

Total and Permanent Disability

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.

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Income protection

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.

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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.

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Important information

Please refer to the relevant Product Disclosure Statement for full details of these benefits and when they are payable.
This advice (including the statements on taxation which are based on present taxation laws, rulings and their interpretation) has been prepared without considering your objectives, financial situation or needs. Before acting on it, consider its appropriateness to your circumstances. You should seek advice from your taxation adviser in relation to taxation matters.

Income Protection, LifeBusiness OverheadsTotal and Permanent Disability (TPD) and Trauma form part of CommInsure Protection. CommInsure Protection is issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA) and Colonial Mutual Superannuation Pty Ltd 56 006 831 983 AFSL 235025, the Trustee of the Colonial Super Retirement Fund ABN 40 328 908 469 (the Fund). CMLA is responsible for the administration of the fund and provides insurance benefits to the fund as insurer. CMLA and the Trustee are wholly owned subsidiaries of Commonwealth Bank of Australia ABN 48 123 123 124. Commonwealth Bank of Australia does not guarantee the obligations or performance of CMLA or the Trustee or the products they offer.

A Product Disclosure Statement (PDS) describing CommInsure Protection is available online, from your Commonwealth Financial Planner or by calling 13 10 56 (from overseas, call +61 13 10 56) and should be considered in making any decision about these products.

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 ABN 48 123 123 124.