Does Loan Protection have a cooling-off period?
Last updated 27 August 2014
Yes, if you cancel your Loan Protection policy within 14 days of your cover starting you’ll be refunded for any premium you’ve paid. You can find your cover start date on your policy schedule.
If you cancel your policy after the 14 day cooling-off period you won’t be refunded for any premiums paid.
Important information: This advice has been prepared without considering your objectives, financial situations or needs. Before acting on the advice, please consider its appropriateness to your circumstances.
Loan Protection is issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA) and is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124. A Product Disclosure Statement (PDS) for Loan Protection is available online, from any Commonwealth Bank branch or by calling 13 3982 and should be considered in making any decision about Loan Protection. You can also download our Financial Services Guide (FSG).