CommInsure Insurance Guide

Taking out a contingency plan with CommInsure enables you and your loved ones to negotiate through life’s curveballs. If you are unable to work, have an accident, or worse, this plan can help you or your family by removing some, or all, of the financial burden these events can cause. Protection typically offers four solutions to preserve your family’s lifestyle.

CommInsure is an award-winning insurer. In recent years, they have received a number of awards recognising their excellent products and services, including:

  • Life Insurance Company of the Year awarded by the Australian and New Zealand Institute of Insurance and Finance 2014, 2011, 2010 and 2007
  • Life Company of the Year awarded by Plan for Life & Association of Financial Advisers 2013, 2010, 2009 and 2007 (Finalist 2011 and 2008)
  • Service Quality Award awarded by Plan for Life & Association of Financial Advisers 2010 and 2009
  • National Contact Centre of the Year awarded by Australian Teleservices Association (ATA) Awards 2013, 2012
  • Trauma Insurance Award Winner awarded by Plan for Life & Association of Financial Advisers 2009, 2008 and 2007

CommInsure offers cover in stand-alone or combined coverage – the choice is up to you. Cover is also offered both inside and outside of super.

  • If you are a business owner, your Life Cover can be used to insure the key people in your business and investment; it can also protect your business loan.
  • If you chose Temporary Disability Cover or Trauma Cover, once it is held for five years, your payment benefit automatically increases by 5%.
  • Business Overheads Cover can pay up to 100% of your fixed operating expenses.
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Life Cover – (sometimes called life insurance) can pay a lump sum to you if you become terminally ill, or to your estate if you pass away. It’s designed to help with debt, dependants education, partner financial support, and to maintain your family’s lifestyle.

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Critical Illness Cover – Critical Illness Cover can pay a lump sum benefit to you if you’re diagnosed with or suffer a defined critical illness like cancer, stroke or major heart problems, such as a heart attack or coronary artery disease requiring bypass surgery. It’s designed to help with out-of-pocket costs like medical bills and lifestyle expenses.

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TPD Insurance – CommInsure Total and Permanent Disability will cover you if you become totally and permanently disabled, in which case you may have lost a limb, hearing, site, or something else. CommInsure allows you to customise your plan, as they understand everyone’s needs are different.

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Business Overhead Protection – Designed for self-employed people, this cover will pay if you can’t work due to illness or injury. It is aimed to take care of your business overheads including regular and fixed operating expenses. This expense is generally a tax deduction too, giving you confidence should you become unable to run your business as usual.

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Bill Protection – Bill Protection can pay a lump sum disability benefit if you become disabled, or as an unemployment benefit if you become involuntarily unemployed. It’s designed to help with short-term expenses when you can’t work, like household bills and rent.

In 2013, CommInsure paid more than $665 million in life and disability insurance claims – that’s over $12 million per week! CommInsure is a leader in the Australian insurance industry with roots dating back 140 years. Their history has been built on providing competitive products that offer value for money. For more information, testimonials and examples of real claims that have recently been paid, visit comminsureclaims.com.au

  • CommInsure offers a Loyalty Bonus Benefit once you’ve held your Life, TPD or Trauma policy with them for five consecutive years or more. They reward your loyalty by giving you an extra 5% of cover at no cost to you. For example, if you had $600,000 worth of cover, after your 5th policy anniversary, they would increase this to $630,000 at claim time with no increase in your premium or health evidence needed.
  • CommInsure rewards your loyalty with the Reward Cover Benefit once you’ve held income protection cover, including Business Overheads Cover, with them for three consecutive years. They reward your loyalty by adding a Reward Cover Benefit at no cost to you and without having to provide any health evidence. The policy then provides an extra $50,000 in Accidental Death Cover, which they’ll pay if you die in an accident. This amount will increase by $10,000 each year for the next five years, so you’ll eventually have $100,000 of free Accidental Death Cover, for the duration of your policy. If you also have a Life Protection or Total Care Plan policy, CommInsure will double the Reward Cover Benefit to $100,000, increasing by $20,000 each year, to $200,000 after five years. CommInsure will pay this Reward Cover Benefit for Accidental Death if you die within 90 days of the accident and before your cover ends.

Contact Comminsure on:
13 10 56
8am–8pm (Sydney time)
Monday to Friday

Website:
commbank.com.au/tailoredlife

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