CreditCard Plus Insurance

If you become involuntarily unemployed or you are unable to work due to accident or illness, CreditCard Plus Insurance can help you with your repayments by paying over 3 times the minimum payment due on your credit card each month. This is based on the outstanding balance at the time of claim event.

In the event of death, terminal illness or permanent disablement, not only can it pay off your outstanding credit card balance in full (up to a maximum of $25,000) but it can ALSO pay you or your estate the same amount as a Cash Assistance Benefit. The cost is 55 cents for every $100 of the closing balance on your monthly credit card statement.

CreditCard Plus Benefits

Benefit Description

Involuntary Unemployment Benefit	Pays 7% of your outstanding credit card balance per month or a proportional amount based on the number of days of involuntary unemployment. This is paid after a 30 day waiting period. A maximum of 180 days per claim applies or until we clear the balance or $50,000 in total for all claims whichever occurs first.
Temporary Disablement Benefit (accident/injury)	Pays 7% of your outstanding credit card balance per month or a proportional amount based on the number of days of temporary disablement. This is paid monthly after a 30 day waiting period. A maximum of 360 days per claim applies or until we clear the balance or $50,000 in total for all claims whichever occurs first.
Death/ Terminal Illness or Permanent Disablement Benefit	Pays off your outstanding credit card balance up to a maximum of $25,000 plus you also qualify for the cash assistance benefit (see below).
Cash Assistance Benefit	Pays you or your estate an amount equal to the terminal illness, death or permanent disablement benefit up to a maximum of $25,000.

For more information on benefits, terms and exclusions, please read the CreditCard Plus Product Disclosure Statement (PDS).

Pre-approved cover
Your cover is pre-approved, acceptance is guaranteed and no medical examination is required at the time of application.

How to Apply
Visit any Commonwealth Bank branch or download the CreditCard Plus Product Disclosure Statement (PDS) & Financial Services Guide (FSG) and apply online.

Credit Card Insurance
If you would like to make any enquiries, update your policy or make a claim, please contact us