CommInsure Life Care

Why consider CommInsure Life Care Plan?

CommInsure Life Care is designed from a term life insurance base, and as occurs with all life insurance term policies, it will pay a lump sum benefit to the beneficiaries of the life insured should he or she die during the term of cover. CommInsure goes one better as it will also pay the life insured if he or she should be diagnosed as suffering a terminal illness. This means you will not have to die before the benefit is paid and you will be protected financially while still living.

CommInsure Life Care is available through the CommInsure Total Care Plan and its Total Care Plan products, or as a stand-alone policy.

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Coverage is the amount of money that you will be paid in the event of a claim. An insurance consultant can help you determine an appropriate amount. Calculator
Provides a lump sum payment if you become totally and permanently disabled and are unable to return to work.
Provides a lump sum payment if you suffer a serious medical condition. Cover can be taken out for 40-60 medical conditions depending on the policy you choose.
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Valuable Options Help Tailor a CommInsure Life Care Policy to Suit all Needs

The list of valuable options that can be included in your CommInsure Life Care Policy make it much more than just another life insurance policy. These options include the following:

  • The Plan Protection Option can keep your policy alive during the hardest of economical times. If you were to become totally disabled for some reason you will no longer have to pay any premiums but your cover will remain intact.
  • There is an accidental death cover that can be obtained at a very low cost. By including this option you are able to increase your cover should your death be accidental.
  • Your children can be added to your CommInsure Life Care Policy. By taking advantage of this option your child will be insured against death as well as 38 child trauma events.
  • You can have a Business Event Guaranteed Insurability Option and avail yourself of the Business Safe Cover Option. This particular option allows you to increase your cover without any further medical examination when certain business events occur. The Guaranteed Insurability Business Events Option will allow you to increase your cover without having to submit to any further medical examination if you need to add to your business loan; increase the cover on the key person in your business; increase cover as your business increases in value; or when you have increased your financial investment in the business.
  • There is also a Guaranteed Insurability Option for personal events. This option will allow you to increase your cover on specific occasions without having to undergo any further medical examinations.

More benefits of this policy to consider

There are many benefits to be derived from having a CommInsure Life Care Policy, these are included in the following:

  • The ability to beat inflation with indexation. This benefit give you the power to increase your cover each year in line with any increase in general inflation.
  • A Family member is looked after with the accommodation benefit. This benefit will help pay the accommodation of a member of the family who needs to be near you when you are confined to bed and the family member is away from their home.
  • Life cover can be reinstated after a year with the buy back benefit. Life cover is usually reduced when a total and permanent disability or trauma claim is paid. However after 12 months you can have the full cover reinstated.
  • You will receive a Loyalty Bonus Benefit. This benefit of 5 percent more life care cover will be granted as a reward for you keeping your cover intact.
  • Under certain conditions a severe hardship booster benefit will be granted. This benefit pays an increased life care cover to your beneficiaries on your death or to yourself if you have suffered a terminal illness due to certain conditions.
  • A life care advance payment benefit is payable to assist in covering the funeral costs of the life insured. This helps ease any stressful situation that may occur if there was to be a delay in the paying of the sum insured for any reason.
  • Following the payment of a life insurance benefit there can be a lot of indecision on the best way to handle the lump sum payment. This can be overcome with the financial planning benefit that pays for the cost of getting the professional advice your beneficiaries may need at such a time.
  • Besides the obvious death benefit there is also a benefit paid if you become diagnosed with a terminal illness. This makes the CommInsure Life Care cover a valuable life insurance policy that offers you help while you are still living as well as to your dependants if you should die.

CommInsure Life Care exclusions to be aware of

Your CommInsure Life Care claim will not be paid if you commit suicide within one year from:

  • Cover commencing;
  • Cover being reinstated; or
  • The level of cover being increased

Who is eligible for CommInsure Life Care?

The entry age range for CommInsure Life Care depends on the type of premiums you select:

  • For stepped premiums, you must be aged between 17 and 69
  • For level premiums, you must be aged between 17 and 54

Cover under the plan expires on the policy anniversary before your 80th birthday.

Receive a preliminary life insurance quote from CommInsure

William Eve

Will is a personal finance writer for specialising in content on insurance. While he cannot give personal advice to clients, Will enjoys explaining the intricacies of different types of protective cover to help individuals and businesses find affordable cover that won't leave them underinsured.

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