Freechild cover offer inside

Child cover

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It’s a natural desire to want to wrap your child in cotton wool and protect them from harm. But while cotton wool might protect them from sticks and stones, children are just as much at risk of suffering a traumatic event as adults.

Did you know?

• Among children aged 0-14, almost 2 in 5 have at least one long term condition that has lasted, or is expected to last 6 months or more.1

• An average of 583 Australian children (ages 0-14) are diagnosed with cancer each year.1

• The leading causes of death among Australian children (ages 1-14) were injuries (34%), cancer (17%) and diseases of the nervous system (11%).1

If your child suffered a traumatic event, it is natural that you would want to:

• access the best medical treatment money could buy, anywhere in the world

• ensure that your child is as comfortable as possible

• have the time off work to be there with them.

Protecting your most precious asset

1 Australian Institute of Health and Welfare 2012. A picture of Australia’s children 2012 Cat. no. PHE 167. Canberra: AIHW.

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Cover for children

CommInsure’s Child Cover pays out a lump sum of up to $250,000 if your child dies or something traumatic were to happen to them. Importantly, you decide how you spend the lump sum payment.

While money can’t buy a quick recovery, it can ease financial pressures you may face during an emotional time. Having Child Cover allows you to focus on your family when they need you most.

Key benefits

• Child Cover is attached to the adult’s life policy or a standalone trauma policy.

• There is no limit on the number of children that can be insured on the policy.

• Child Cover can be greater than the Life or Trauma cover held by the parent, provided it does not exceed the maximum of $250,000.

• Prior to turning 18, your child will automatically be offered a continuation option on their Life with Trauma policy. No evidence of health will be required to continue cover.

Free Child Cover

Apply for Child Cover on your existing CommInsure policy before 31 March 2014 and the first year of cover is free – that’s a saving of up to $300 of premium per child.

Simply fill out the form in this brochure, seal it and mail to CommInsure. Note: You must have an existing Life or standalone Trauma policy with CommInsure to use this form.

Offer valid for new Child Cover policies on standard rates only and full underwriting applies. Standard premiums will apply from year two of cover. Refer to your financial adviser for more details.

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Child Cover pays you a lump sum if your child dies or suffers one of 38 specified child trauma events. You can apply for a minimum of $10,000 and up to a maximum of $250,000 worth of Child Cover for children between the ages of two and 16 inclusive.

You can cover more than one child under this option, but each child must be insured for the same amount. This tax free lump sum payment can be used to meet additional expenses when you need it most.

Private health insurance is only part of the story

If you have private health insurance, you may think this covers your family if your children have a medical problem. Private health insurance only covers hospital stays and some medical/extras expenses. It won’t cover all rehabilitation costs, alterations to your home or long-term nursing care.

What could your Child Cover lump sum be used for?

The costs associated with a serious illness or injury can quickly add up. You can use a Child Cover lump sum payment to pay for all sorts of expenses, including, but not limited to:

• seeking specialist or overseas medical treatment

• home nursing care

• home or car modifications

• meeting other financial commitments, such as a mortgage, child care or school fees if you are not able to work while caring for your child.

How much does Child Cover pay?

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Recently paid out Child Cover claims

Recent claims paid

Gender Age Years in force

Benefit Cause of claim

Male 3 years 1 year $100,686.83 Surgery of the aorta

Female 10 years 3 years $107,007.07 Cardiomyopathy

Female 8 years 1 year $50,004.40 Cancer

Male 4 years 1 year $103,800.80 Muscular Dystrophy

Male 4 years 1.5 years $51,623.81 Cancer

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Child Cover will pay a lump sum if your child dies or suffers one of the 38 child trauma events listed below.

Nervous System Disorders

Bacterial Meningitis

Encephalitis

Subacute Sclerosing Panencephalitis

Stroke

Major Head Trauma

Muscular Dystrophy

Paraplegia

Quadriplegia

Hemiplegia

Tetraplegia

Coma

Diplegia

Heart Disorders

Heart Attack

Out of Hospital Cardiac Arrest

Cardiomyopathy

Open Heart Surgery

Coronary Artery Angioplasty

Coronary Artery Angioplasty – Triple Vessel

Coronary Artery Disease Requiring By-pass Surgery

Surgery for Disease of the Aorta

What is covered?

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Other Events

Serious Injury

Critical Care

Loss of Limbs or Sight

Loss of One Hand or One Foot

Blood Disorders

Medically Acquired HIV

Aplastic Anaemia

Body Organ Disorders

Cancer

Benign Brain Tumour

Blindness

Chronic Kidney Failure

Major Organ or Bone Marrow Transplant

Severe burns

Loss of speech

Loss of hearing

Chronic Liver Disease

Chronic Lung Disease

Severe Rheumatoid Arthritis

Placement on a Waiting List for Major Organ Transplant

Note: Definitions of the 38 child trauma events can be found in the CommInsure Protection Product Disclosure Statement (PDS) and Policy. There are some instances where we may not pay a benefit. To understand these important policy terms and conditions, please read the PDS.

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Annie’s parents thought she had the flu. When the symptoms persisted for some time, they returned to their GP for some blood tests. The results showed that she had leukaemia.

Annie was in and out of the children’s hospital on a regular basis and had chemotherapy for twelve months. Finally, after two years, the doctors gave Annie an optimistic prognosis.

Annie’s parents, Julia and Michael, suffered a lot of stress and worry during this time, but fortunately, they didn’t have to worry about financial issues as well. Julia and Michael had taken out a CommInsure Child Cover policy. They placed a claim with CommInsure and shortly after received a lump sum payment of $75,000.

Annie’s story

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This case study is for illustrative purposes only. It may include exclusions, limitations and specific benefits which have not been described. For more information on product features and benefits, refer to the CommInsure Protection Product Disclosure Statement and Policy.

With the money from CommInsure, they were able to cover:

• Julia giving up her job temporarily so she could fully care for Annie

• hotel stays so Julia and Michael could be close to the hospital

• a live-in nanny to look after their other children

• a much needed family holiday to the Gold Coast once Annie had recovered.

Julia and Michael were relieved they could give Annie and her siblings all the attention they needed during a very traumatic time.

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Why CommInsure?

Need more information?

For more information, please contact your financial adviser, or CommInsure on 13 1056.

13 1056

8 am – 8 pm (Sydney time)Monday to Fridaycommbank.com.au

CommInsure helps to protect the lifestyles of Australians with a fresh approach to insurance, backed by a strong history – as one of Australia’s largest life insurers and our roots in the Australian insurance industry dating back 140 years. Our claims process is prompt and efficient; in 2012 we paid a total of $702.8* million in life and disability insurance claims

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*Retail and Group statistics combined

Important information

This information has been prepared by CommInsure, a registered business name of The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA). The examples and case studies are for illustrative purposes only and should not be regarded as specific advice. 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. Child Cover is a component of CommInsure Protection. The CommInsure Protection Combined Product Disclosure Statement (PDS) and Policy is issued by CMLA. The CommInsure Protection Combined PDS and Policy is available from your financial adviser, by calling 13 1056 or from commbank.com.au and should be considered in making any decision about these products. CMLA is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945.

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