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CreditCard Plus

CreditCard Plus helps you to repay your Commonwealth Bank Credit Card debt if you become disabled, involuntarily unemployed or even in the event of death.

Credit Card Plus is a low cost insurance plan. There are no medical tests needed and application is easy.

CreditCard Plus provides consumer credit insurance covering:

  • Death;
  • total and permanent disablement;
  • total temporary disablement; and
  • involuntary unemployment.
CreditCard Plus Benefits Benefit Description
Death or Total and Permanent Disablement Benefit Pays the outstanding balance on your credit card account, to a maximum of $15,000, as at the date of death or total and permanent disablement.
Total Temporary Disablement Benefit If you suffer total and temporary disablement due to injury or illness, then after a waiting period of 30 days, pays 1/30th of your minimum monthly credit card repayments for each day of disablement for up to 180 days, to a maximum of $2,250, for each period of disablement.
Involuntary Unemployment Benefit If you become involuntarily unemployed as a result of termination, retrenchment or an industrial dispute and are receiving unemployment benefits, then after a waiting period of 30 days, it pays 1/30th of your minimum monthly credit card repayments for each day of involuntary unemployment, to a maximum of $1,125 per claim, for up to 90 days.

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 PDS and complete and sign the application form


Important Information

1. As this advice has been prepared without considering your objectives, financial situation or needs, you should, before acting on the advice, consider its appropriateness to your circumstances.
2. CreditCard Plus is issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035. A PDS for CreditCard Plus is available by clicking here and should be considered before making any decision about CreditCard Plus.
3. The offer made in the PDS is currently available only to permanent residents of Australia and persons receiving the document within Australia. Applications from outside Australia will not be accepted.

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