Can I pay my life or income protection premiums from my super fund?
Last updated 15 October 2015
Yes. If you have a Total Care Plan Super policy you can pay your premiums* via our Super Payment Method. We can accept rollover monies from any complying superannuation fund. What’s even better is, if you choose this payment method you may qualify for a renewal reward of up to 15% which reduces your next year’s premium.
Also, if you take out a new Total Care Plan Super policy on stepped premiums and choose to pay by the Super Payment Method, a 10% discount will apply to the Life and TPD Cover as long as you continue to pay this way.
Policies with Trauma cover can’t be placed inside the super tax structure, however you can link these types of policies inside and outside of CommInsure Protection so that the Total Care Plan Super premiums are taken automatically from the funds in the super account. This is called flexi linking.
Please contact your Financial Adviser who can help you arrange this. 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.
* For policies which started on or after April 2003.