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If I have Home Loan Protection, and I decide to split my home loan which is insured under the policy, am I still covered?

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Last updated 20 June 2017

If, after your policy starts, you make changes to the home loan, you will continue to be insured for an amount not exceeding the balance of your home loan, provided the amounts do not the exceed the maximum benefits payable.


  • Brett has an approved home loan from Commonwealth Bank for $500,000 at a variable interest rate.
  • Brett’s cover under this policy starts on 1 July with a maximum benefit of $500,000.
  • In December, Brett splits the home loan which is covered under this policy as follows: $200,000 variable rate and $300,000 fixed rate.
  • Brett is covered up to a maximum benefit of $500,000.

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