When are my Loan Protection premiums debited?

See all Loan protection FAQs

Last updated 27 August 2014

You’ll need to pay your Loan Protection premiums monthly, in advance. You can find the day of the month your premium is debited on your policy schedule.

You won’t be able to change how often you pay your premiums as they always need to be paid on a monthly basis.

You can have your premium direct debited from either a bank account or a credit card (Visa and MasterCard).  Find out more about changing your direct debit details.


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).

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