What does the Income Protection Unemployment Cover benefit for CommBank loans cover me for?
Last updated 02 November 2015
This benefit helps cover monthly minimum loan repayments for a CBA loan. If you’ve been involuntarily unemployed for more than 60 consecutive days (and meet all the policy terms) we’ll pay a monthly benefit for up to three months directly into your CBA loan account.
The amount you will be paid will be either your minimum monthly loan repayment, or the monthly benefit amount shown in your policy schedule, whichever is less.
This benefit isn’t available for policies held inside super.
It’s important you read and understand the policy terms and conditions contained in the CommInsure Protection Combined Product Disclosure Statement (PDS) and Policy.
To find out more, talk to your Financial Adviser. If you don’t have an Adviser, a Commonwealth Financial Planner may be able to help you. To arrange a no-obligation consultation, call us on 1800 241 996.