CommInsure Life Insurance Growth

CommInsure Life Insurance is a part of the Australian Commonwealth Bank Group and although the CommInsure name was not introduced into the Australian insurance world until 1999, its links with the Australian insurance industry stretch back over 100 years. In fact its bloodline started with the formation of the Colonial Mutual Life Assurance Society way back in 1873, well before the establishment of the Commonwealth Bank itself that did not come into being until 1912.

The Commonwealth Bank did not enter the insurance field until 1975 when it first offered building insurance. There was a further gap of 20 years before the bank delved further in this area when in 1995 it launched the Commonwealth Connect Insurance limited (CCIL). Meanwhile apart from what was occurring within the Commonwealth Bank, the Colonial Mutual Life Assurance Society, by this time one of Australia’s leading life insurance companies, took over the ownership of the Prudential Life Assurance company, in 1997. The following year CCIL changed its name to Commonwealth Insurance Limited (CIL) and in 1999 CIL first started using the name CommInsure as its brand name.

The big boost to CommInsure’s presence in the life insurance industry came in 2000 when it acquired the Colonial Mutual Life Assurance Society and it was just two years later, in 2002, when all Colonial Mutuals insurance operations were transferred to the CommInsure brand name. It was now a leader in the Australian insurance industry.

CommInsure’s Range of Life Insurance Solutions

From its inception CommInsure Life Insurance has gone from strength to strength in protecting the lifestyle of Australians by its ability to offer an extensive raft of straightforward, simple to understand, insurance solutions at affordable premiums. This has been achieved with a fresh approach to its task by insisting on delivering simplicity, innovation, competitive insurance policies and a responsive service. The CommInsure insurance policy range gives quality cover for such lifestyle requirements as the following list attests to:

• Life Care cover. Life Care is term insurance that will pay you or your beneficiaries a lump sum payment should you either die or become terminally ill. Besides you, or your beneficiaries receiving the lump sum payment, life Care will also provide you or your dependants with financial advice up to the value of $2,500. If the Life Care policy has been in force for at least five years the amount of cover will be increased by five percent in the event of any claim being made.
• Disability cover. CommInsure Life Insurance goes a step further than just giving you insurance cover should you die or suffer a terminal illness. That is, should you suffer a total or permanent disability caused by a sickness or injury, you can arrange to have a lump sum payment paid to you that would allow you to provide for your family and pay your bills as you could have before suffering the mishap.
• Trauma cover. Trauma is as injurious to a persons financial well being as is anything else, therefore if you were to survive for 14 days following the occurrence of a serious medical condition such as cancer, stroke or heart attack etc. you could be eligible to receive a lump sum payment.
• Income protection. Many people who have suffered from a sickness or injury that has prevented them from bringing in an income during such an occurrence have never been able to fully recover financially. Some have even lost their house during this time because of being unable to meet the mortgage repayments, let alone all the other bills that keep coming in. You can protect yourself from such a tragedy by taking out income protection insurance with CommInsure Life Insurance.
• Business Overheads Protection: Insurance to ensure your business does not experience financial hardship in the event of serious illness or injury.

The most basic of all insurance cover is the protection of your loved ones if you should die or be stricken with contracting a terminal illness. CommInsure Life Insurance provides a lump sum payment in the event of such events occurring. With such cover you can rest assured that should the worst occur at least your family’s financial situation will not add further strain to an already stressful situation. All people who have others dependent on them should protect those against your loss should you be unable to contribute any further to their financial well being. Especially if you will leave debts behind, such as a mortgage. Life and income insurance is not as expensive as many would have you believe. Actually for most people such protection is obtainable for less than the price of a cup of tea or coffee a day. This is certainly a little price to pay in order to safeguard your family against financial hardship if tragedy should strike.

CommInsure Life Insurance is continuing a proud history in providing personal insurance products to the Australian public. Tragedy can strike at any moment to anybody but you can prevent the financial devastation from spreading if you take action to protect yourself and your loved ones now.