- This provider has a claims acceptance rate of for death cover, which is higher than average (90%).
- It's policies are provided by AIA Australia so you can get access to AIA Vitality.
- CommBank's $15,000 funeral advancement is probably enough for most but brands such as Qantas and TAL offer $10,000 more.
- With CommBank, you get death benefit cover up to $1,000,000. This is a fairly standard amount, but insurers such as ahm, Suncorp and NobleOak all offer between $500,000 and $14,000,000 more.

Life Insurance
- Death Benefit: A lump sum benefit will be paid to policyholders/their beneficiaries in the event of the policyholders death.
- Terminal Illness Benefit: An advance payment of the Life Insurance benefit will be paid if the policyholder is diagnosed with a terminal illness.
- Indexation Benefit: Cover amount will increase each year in line with inflation.
Note: Be sure to check the Product Disclosure Statement (PDS) for terms and conditions.

Optional cover
When you take out a Life insurance policy, you also have the option to add on the following:

Applying for cover
- Be an Australian citizen, permanent resident or New Zealand citizen.
- Must be between 18 and 65 to apply for Life Insurance
- Be 18 to 59 for Income Protection, TPD and Trauma Insurance
- Must work at least 20 hours per week (excludes heavy manual occupations) for Income Protection cover.
- Be a Commonwealth Bank customer living permanently in Australia. You can get a quote online through NetBank.
Still wondering if CommBank is right for you? Here are the main pros and cons summarised:
Pros
- It gives you access to AIA vitality.
- It has a higher than average claims acceptance rate.
- It's convenient if you're a CommBank customer.
Cons
- It's only available to CommBank customers.
- It's possible to get a higher life insurance benefit elsewhere.
If you need to make a claim on your CommBank life insurance policy, it's vital that you or your representative contact CommBank by phone as soon as possible following the claim event. If you happen to be overseas, you may need to return home to Australia at your own expense in order for the claim to be properly assessed.
To make a claim contact CommBank by phone on 1800 491 588 or email: claims@lifeinsurancebyaia.com. You can mail your completed claim form to: Claims Team, AIA Australia Customer Service PO Box 6143, Melbourne VIC 3004
Just as with any other type of life insurance, there are certain situations and circumstances where your CommBank claim won't be paid, such as if:
- Death resulting from suicide or a deliberately self-inflicted injury or sickness in the first 13 months of taking out the policy
- Disability caused or worsened by any deliberately self-inflicted injury or sickness, including attempted suicide.
- Any criminal activity or any unlawful act or whilst imprisoned.
- War, riots or civil commotion.
- A trauma event suffered within the first 90 days of taking out or reinstating your policy.
- Any death, injury or sickness due to duties of your occupation:
Read the PDS for more information on the general exclusions that apply to your policy.
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