Total Care Plan (TCP) is now closed to new business (except continuation options and replacements). Existing customers can still increase, decrease, add options and obtain replacement policies. They will also continue to receive product improvements to ensure they provide ongoing valuable, contemporary protection
Life Care Cover provides a lump sum payment in the event of terminal illness or death. The lump sum paid is the amount for which your client is insured.
This type of insurance is also known as term insurance.
You can combine it with Accidental Death Cover, TPD Cover, Trauma Cover, Child Cover and/or Income Protection.
At a glance
Download the PDS for full list of benefits >
When is a benefit paid?
Take Rob for example, a project manager with two children. Rob wasn’t too concerned about his family’s financial situation because they had superannuation, insurance in super and some savings. However, Rob’s wife did have concerns, so they sought the advice of a financial adviser. Rob was surprised to find out he only had $270,000 life cover in his super fund’s insurance plan.
The adviser recommended he put in place a financial plan that included Life Care to top up the life insurance he held in his super fund.
Sadly, two years later, during 2018, Rob died in a car accident. Rob's legal representative submits the full death certificate and claim forms to CommInsure, and because Rob's death meets the conditions of the policy as disclosed in the CommInsure Protection Product Disclosure Statement (PDS), CommInsure paid Rob's family a lump sum of $700,000. This covered the mortgage and all of the children's educational costs.
Imagine the financial consequences for Rob’s family if he hadn’t had Life Care?
The examples used are for illustrative purposes only.
*Features and benefits of Life Care inside super vary from outside super.