COMMLink



Unit Link Product from Commonwealth Life in Indonesian Rupiah and AUD

COMMLink is a single premium unit link insurance product that combines investment and life insurance where funds are invested with the fund-on-fund concept at selected and profitable mutual funds. The goal of this idea is to optimize investment results and diversify risks with insurance benefits.

FEATURE

IDR
  • Optimum Investment Results as funds are actively managed by a professional investment manager and invested in several mutual funds that perform well in the stock market.
  • Interim Cover benefit which provides sum assured payable due to accident if policy is under approval process.
  • Free switching fee up to 4 times per year.
  • Minimal Investment Risks through diversification that can be chosen according to the customers' risk profiles.
  • Protection until 99 years old
AUD
  • The first in Indonesia a Unit Link Product in Australian Dollar currency.
  • Interim Cover benefit which provides sum assured payable due to accident if policy is under approval process.
  • Protection until 99 years old
BENEFIT
  • 150% of single premium sum assured is payable due to death by any cause (accident and/or illness).
  • 50% of single premium sum assured is payable due to Terminal Illness. Additional condition that if the life insured is diagnosed with an incurable disease and cannot survive for more than 12 months (with medical evidence).
  • Benefit at the End of the Contract If the Insured lives untill the Contract Expiry the Investment Value will be paid out
RISIKO
  • Market Risk / Unit Price Reduction Risk
    Market risk is the risk of losses impositions arising from movements in market prices.
REQUIREMENTS & PROCEDURES
  • Policy Holder Age 21 – 70 years
  • Have Commonwealth Bank Account
  • Fill out Application Form
  • Copy Customers Identification
  • Other Supporting Documents

FEE AND CHARGES

  • Administration Fee
    NO administration fee
  • Initial/Entry Fee
    IDR 2,5 % / AUD 3% from paid premium (Single Premium or Top Up Premium)
  • Switching Fee
    FREE 4x a year. More than that will be charged 0,5% fee from switching amount
  • Management Fee
    IDR 1,5% per year from investment result
    AUD Maximum 2% per year from investment result
  • Insurance Fee
    Flexible insurance fee based on age and sum insured taken (will be charged from 2nd year), FREE for the first year
  • Withdrawal Fee
    Withdrawal Fee: 1% from withdrawal fee (IDR only for the first 3 years, AUD only for the first year)
    Minimum withdrawal: IDR 2 million / AUD 200)
  • Redemption Fee
    Redemption Fee: 1% from redemption amount (IDR only for the first 3 years AUD only for the first year)
  • Tax
    20% from investment result (only for the first 3 years)

DISCLAIMER
The insurance product issued by PT Commonwealth Life and referenced / recommended by PT Bank Commonwealth (Commonwealth Bank) to its customer. This product is not issued by Commonwealth Bank consequently Commonwealth Bank doesn’t responsible for any obligation and doesn’t provide any assurance of this insurance product. This insurance product and the fund is not included in Deposit Guarantee Program of Government of Republic Indonesia (Lembaga Penjamin Simpanan). Commonwealth Bank also not undertakes for any risk of the Insurance Policy issued by PT Commonwealth Life in related to the insurance product. The Commonwealth Bank’s logo usage is entirely for cooperation reason between Commonwealth Bank and PT Commonwealth Life in regard to the marketing process of the Insurance Product. Commonwealth Bank is neither an agent of PT Commonwealth Life nor a broker of Commonwealth Bank customers. The fund placed will not be included in and / or not will be secured by a deposit guarantee program by LPS.

Call CommBank can be accessed through 1500030 or (6221) 2935 2935 for international access. We serve customer 24 hours a day 7 days a week (including public holiday).