CommInsure

CommInsure Life Insurance

Even though the name “CommInsure” is relatively new in Australia, established in 1999, the corporation itself has been involved in the Australian insurance industry for more than 100 years. CommInsure offers various insurances such as travel insurance, car insurance, life insurance, and credit card insurance.

Within life insurance, CommInsure provides an income care range, trauma cover, disability cover, and life cover. Life cover is really the “life” insurance, which gives a lump sum payment to the insured in the case of death or terminal illness. On the Product Disclosure Statement, however, this product is called Life Care. Life Care is death cover that gives a lump sum when the insured dies. It also provides terminal illness benefits to the insured if enough medical evidence is provided to corroborate that the insured has less than twelve months to live. If the insured wants, he or she may also add accidental death cover to protect against accidents. Other useful options include Life Care Advance Payment Benefit, Life Care Buy Back Benefit, Guaranteed Insurability Option (Personal Events), Guaranteed Insurability Option (Business Events), Business Safe Cover Option, and a Plan Protection Option. Although this plan is not superannuated, the insured may choose to nominate the beneficiary as not just a person, but also as a corporation or trust as well.

Other crucial details about the nomination process for this life insurance plan are: non conditional nominations, flexibility for the insured to change or cancel the beneficiary at any time before the claim event, and passing on the money to the beneficiary’s beneficiary if the original beneficiary dies prior to the original insured. Furthermore, a new nomination overwrites the previous one, and the beneficiary has no right on the matter other than receiving the money.

Use the form on the right hand side of this page and one of our expert consultants will call you to discuss your specific needs; in most cases we are able to tailor a Life Insurance policy to your needs. We can also help you decipher anything you do not understand and provide you with a free, no obligation, life insurance quote.