INVESTMENT
GROWTH BOND
PLAN FOR A BRIGHTER FUTURE.
Product Disclosure Statement
Issue date: 1 November 2019
Issued by The Colonial Mutual Life Assurance Society Limited
ABN 12 004 021 809 AFSL 235035 (CMLA) which is a wholly
owned non-guaranteed subsidiary of the Commonwealth Bank
of Australia ABN 48 123 123 124 AFSL 234945 (CBA).
In September 2017 the CBA announced the sale of its
CommInsure life insurance business in Australia to the AIA
Group. The sale includes CMLA. While the sale of CMLA is
expected to complete in calendar year 2020, CMLA has entered
into a Joint Cooperation Agreement with AIA Australia Limited
(AIA) and CBA for the joint operation of the CMLA and AIA
businesses. AIA is part of the AIA Group, the largest publicly
listed life insurance group in the Asia Pacific region with a
presence in 18 markets. Whilst CBA will remain the ultimate
shareholder of CMLA, under the terms of the Joint Cooperation
Agreement AIA will have an appropriate level of direct
management and oversight of the CMLA business.
‘CommInsure’ is used under licence by CMLA.
Contact details for CMLA are:
Postal address: PO Box 320, Silverwater NSW 2128
Telephone: 1800 624 100
Neither the AIA Group nor the Commonwealth Bank of Australia
Group (excluding CMLA) nor their subsidiaries, guarantee the
performance of the Investment Growth Bond or the repayment
of capital or interest by CMLA. Investments in the Investment
Growth Bond are not deposits or other liabilities of the AIA
Group nor the Commonwealth Bank of Australia Group
(excluding CMLA) nor their subsidiaries. Investment products are
subject to investment risk including loss of income and principal
invested as described in the PDS. CMLA as product issuer does
not guarantee the performance of the Investment Growth Bond
except as expressly stated in the PDS.
You can only apply for this product by completing the
Application attached to this PDS.
In this PDS, ‘CommInsure’, ‘we’, ‘us’ and ‘our’ refer to CMLA and
‘you’ or ‘your’ mean the Policy Owner and/or where applicable
the person to be insured. Where we use the term
‘Life Insured’ we mean the person whose life is to be insured
under the policy.
While every effort has been made to ensure the information in this
PDS is reliable, the Policy Document (including the Policy
Schedule) between us and the Policy Owner forms the basis of the
product and should be read carefully. The examples and
illustrations provided in this PDS are only intended to illustrate how
certain benefits are calculated. All benefits will be calculated in
accordance with relevant policy conditions. No benefits are
payable unless the relevant policy conditions are satisfied. All
references to monetary amounts in the PDS are references to
Australian dollars.
The offer under this PDS does not constitute an offer in any
jurisdiction other than Australia. This PDS is not an offer to any
person or an offer in any place, to which it is unlawful to make
such an offer.
The information in this PDS is only a guide. It does not take into
account your particular objectives, financial situation or needs.
Before acting on information in this PDS you should consider the
appropriateness of the information having regard to your
particular objectives, financial situations or needs. We
recommend that you speak with a financial adviser.
All taxation information is current as at the date of this PDS.
Taxation considerations are general and based on present
taxation laws and may be subject to change. You should seek
independent, professional tax advice before making any
decision based on this information.
The level of tax benefits or tax effectiveness may vary depending
on your individual circumstances.
CommInsure is also not a registered tax (financial) adviser under
the Tax Agent Services Act 2009 and you should seek tax advice
from a registered tax agent or a registered tax (financial) adviser
if you intend to rely on this information to satisfy the liabilities or
obligations or claim entitlements that arise, or could arise, under a
taxation law.
Welcome to CommInsure’s Investment Growth Bond 3
What is the Investment Growth Bond? 4
Who is it suitable for? 5
A quick overview 6-7
Tax benefits 8-9
You’re investing in safe hands 10-13
How do Iinvest? 14-15
Ownership, Lives Insured and
Nominating Beneficiaries 16-17
Investment matters 18
Your investment strategy 19
Investment risks 20
Single-sector investment options 22-23
Multi-sector investmentoptions 24-25
Fees and other costs 26-27
Additional information 28-33
So you’ve decided to invest 34
Forms 35-46
Contents.
2 Investment Growth Bond
Why CommInsure?
CommInsure is one of Australia’s leading insurance and
investment bond providers.
We have a long history of financial strength and security
dating back over 140 years.
We are committed to meeting the insurance, retirement
and investment needs of individual Australians. We do
this by making our wide range of award winning products
and services, such as the Investment Growth Bond, more
affordable, more accessible and easier to understand.
Our fresh approach to straightforward insurance and
investment solutions combines innovation and simplicity
with competitive products and responsive service.
CommInsure Investment
Growth Bond
Welcome to CommInsure’s
Investment Growth Bond.
Grow your investment with condence.
A tax-effective investment with the
exibility to achieve your life goals,
supported by a strong 140-year history.
Awards
Association of Financial Advisers (AFA), Investment bond, award winner eleven years running (2008 through to 2018).
3Investment Growth Bond
What is the
Investment
Growth Bond?
It’s a tax-paid product that’s exible
enough to suit a wide range of needs
and different situations.
The Investment Growth Bond (Bond) is
an insurance bond that has simple
tax benets
It combines many of the features of other investments such
as a managed fund with the security and tax benefits of a life
insurance policy.
You can select from investment options that invest in assets
such as shares, property, fixed interest and cash.
No personal tax is payable on the Bond once you’ve held
it for 10 years and satisfy the 125% rule.
Did you know?
There is no obligation to withdraw after the 10 year
period, you are still able to continue your investment.
Retirees, pensioners, grandparents, mums, dads, children,
grandchildren, high income earners and businesses can all
benefit in different ways.
If you withdraw before 10 years, you may be able to take
advantage of the 30 per cent tax offset, which may help offset
your tax on any profit elements of the withdrawal as well as
tax on income from other sources.
The Bond is issued by The Colonial Mutual Life Assurance
Society Limited which is a life insurance company.
4 Investment Growth Bond
Who is it suitable for?
The Bond is suitable for a broad range of people. From young children to
grandparents, high income earners to pensioners, the Bond suits a variety
of investors’ needs.
Investor need Benefits for you
Want certainty in estate planning and
distributing your wealth?
Ability to nominate one or more beneficiaries
Beneficiaries receive the proceeds tax free
The Death Benefit Guarantee (where applicable) can provide certainty around
the minimum amount that your beneficiaries will receive.
Looking for a simple, tax-effective
investment that can lower your tax
liability, with little or no annual tax
reporting and paperwork?
Earnings are taxed at 30% in the life insurance company
No personal tax on withdrawals if the Bond is held for 10 years (“10 year rule”)
You can also contribute each year, up to 125% of the previous year’s contribution
(“125% rule”) and still satisfy the 10 year rule.
No annual tax reporting unless you make a withdrawal.
Looking for an investment with growth
potential but some capital protection?
Four of the investment options available have different guarantees included.
Seeking a long-term investment for your
children or grandchildren?
Able to set up a Child Advancement Policy and within limits nominate when
ownership transfers to a child
A range of investment options to choose from
You are able to access money at any time.
Restricted by super rules?
No work test applies for contributions
No contribution or lifetime caps apply
Able to access money at any time.
Want a tax-effective income stream
in retirement?
A 30% tax offset applies on the tax payable on any profit element of your
withdrawal.
Exploring smart investment alternatives
to suit your business needs?
Funds available when you need them
Little or no annual paperwork.
High income earners
maximise tax benefits
Retirees
tax-effective income stream
Families
Child Advancement Policy
People looking for alternatives
to super
People looking for certainty in estate
planning and distributing wealth
People looking for simplicity
with little or no tax reporting
A
B C
A
B C
A
B C
A
B C
A
B C
A
B C
5Investment Growth Bond
Here’s a quick overview of the main features – each is explained in more detail later on
Tax benefits
(refer to page 8-9)
Assuming you hold the investment for more than 10 years and comply with the 125% rule, it
is considered a “tax paid” investment as CommInsure pays the tax on bond earnings at the
current company tax rate of 30% and this can be reduced further by the use of imputation credits.
Investment earnings on the Bond generally don’t have to be declared in your tax return, unless
you make a withdrawal within the first 10 years of holding the policy.
If you do make a withdrawal in the first 10 years, some or all of the earnings should be included
in your assessable income for taxation purposes. You may however, be able to take advantage
of the 30% tax offset.
Additional contributions which satisfy the 125% rule don’t have to be invested for the full 10
years to acquire the tax-paid status.
Investment switches and withdrawals from the Bond can be made without the worry of personal
capital gains tax.
Investments held for children can be invested in a favourable tax environment given that the
earnings within the Bond are taxed at the current company tax rate of 30%.
The 125% rule
(refer to page 9)
Any contributions made after the first 10 years can be withdrawn tax free regardless of when
the contribution was actually made. Each year simply invest up to 125% of the previous year’s
contribution to take full advantage of this benefit.
Choice of
investment options
(refer to pages 22 - 25)
Once you and your financial adviser select your investment option(s) your money will be invested
according to your selection.
The Bond offers the potential for competitive after-tax returns through a choice of nine
investment options:
four multi-sector investment options that invest in a range of asset classes
five single-sector investment options.
You can tailor your own diversified investment portfolio by investing in a number of single-sector
investment options.
Investment option
guarantees
(refer to page 13)
The investment option guarantees are designed to provide certainty around the minimum value
of your holdings in an investment option.
Investment option guarantees are currently available for four of the investment options.
Investing for a child
(refer to page 17)
You can invest for a child in the following ways:
1. With parental/guardian consent
Children as young as 10 years of age can invest.
2. Child Advancement Policy
An adult can set up a Child Advancement Policy on behalf of a child under 16 years of age
with the ownership of the Bond transferred to the child at a set age.
Estate planning
(refer to page 16)
You can nominate to have one or more beneficiaries receive the proceeds of your investment in
the Bond tax free upon the death of the last surviving Life Insured.
A quick overview.
6 Investment Growth Bond
Death Benefit Guarantee
(refer to page 10-11)
The Death Benefit Guarantee provides certainty around the minimum amount that will be paid
on the death of the last surviving Life Insured, which can be particularly important during times
of market uncertainty.
This means that in the case of the death of the last Life Insured there is a guaranteed amount
that will be paid on withdrawal of this investment.
Under the terms of the Death Benefit Guarantee, we guarantee to pay the higher of:
a) the cash value of the Bond, or
b) the lesser of the Net Contribution Value and the Maximum Amount.
The Net Contribution Value is the total value of all deposits less any withdrawals that have
occurred during the life of the policy and less any Switching fees, Withdrawal fees and Adviser
Service Fees deducted during the life of the policy.
The Maximum Amount is limited to $1 million per Life Insured (or such other amount we advise
you in writing). Where multiple Investment Growth Bond policies have the same Life Insured
nominated, CMLA will guarantee a total of the Maximum Amount across all policies. Any
decrease in the guarantee to the Maximum Amount would only apply to new policies from the
date of the change.
To qualify for the Death Benefit Guarantee, the younger Life Insured on the policy must be less
than 85 years of age at the policy commencement. While the policy remains in force, the Death
Benefit Guarantee will continue to apply until the 99th birthday of the last surviving Life Insured.
Minimum amounts
(refer to page 14)
Minimum Payment method
Initial investment $1,000 BPAY
®
/cheque/direct credit
Additional contributions $200 B
PAY
®
/cheque/direct credit
Balance per investment option $200 N/A
Investment option switches $200 N/A
Partial withdrawals $1,000 Direct credit
Automatic regular withdrawals $500 Direct credit
Automatic regular
withdrawals
(refer to page 15)
You can access your money at any time and where the cash value of your Bond is greater than
$10,000 you can set up an automatic withdrawal facility, where money can be paid into your
bank account on a monthly, quarterly, half-yearly oryearly basis.
Automatic regular
contributions
(refer to page 14)
Can be established via B
PAY
®
.
Fees
(refer to page 26)
Management fee 0.85% p.a. to 1.50% p.a.
(depends on the investment option(s) you select)
Switching fee Nil
Withdrawal fee Nil
Adviser Service Fee Deducted using the amount agreed between you and
your financial adviser(s)
7Investment Growth Bond
Tax benets.
Simple tax-effective investing
Tax on investment earnings is paid by CommInsure at the
current company rate of 30%.
If you hold the investment for 10 years and satisfy the 125%
rule, the Bond is a ‘tax-paid’ investment and there is no
further tax payable by you.
Although the current life company tax rate for insurance bonds
is 30 per cent, the effective tax rate of the Bond may be lower
depending on the level of imputation credits generated from
the underlying investments and applied at that time.
If you don’t make a withdrawal within the first 10 years of
holding your policy, your investment in the Bond will not affect
your personal income tax or your annual tax return obligations.
No tax-paid after 10 years
If you hold your investment for 10 years from the original
investment date (subject to the 125% rule – see following
page), there is no personal tax payable on any withdrawals
made after this time. If you do make a withdrawal within
10 years from the original investment date, some or all
of the earnings component of your withdrawal should be
included as assessable income for tax purposes.
At all times, the capital component of your withdrawal
(i.e. any contributions you have made to the Bond) is free
from personal income tax.
These are only general comments on taxation. As your
individual circumstances may be quite different, you
should discuss any taxation issues with your tax adviser.
This graph highlights the tax treatment of withdrawals over 10 years
If you withdraw within 8 years
Your profit is taxed in full at your marginal tax rate*.
During the 9th year
2/3 of your profit is included in your assessable income*.
The remainder is tax free.
During the 10th year
1/3 of your profit is included in your assessable income*.
The remainder is tax free.
After the 10th year
None of your profit is subject to personal tax.
1 2 3 4 5 6 7 8 9 10 10+
The above tax treatment of withdrawals assumes the 125% rule has been met.
*A life insurance policy tax offset may apply to any potential tax liability from any profit element of the withdrawal to compensate for the tax CMLA has paid. If your
personal tax rate is less than 30 per cent, any excess (unused) tax offset may be used to reduce tax on other income.
8 Investment Growth Bond
$10,000
$12,500
$15,625
$19,531
$24,414
$30,518
$38,147
$47,684
$59,605
125% contribution per year
Years
10
9
8
7
6
5
4
3
2
1
$74,506
The 125% rule
Additional contributions made each year may be considered
as part of your initial investment. In other words not every
contribution has to be invested for 10 years for your profits to
receive the tax-paid status.
As long as contributions in each policy year don’t total
more than 125% of the previous year’s contributions, the
start date of the 10 year tax period will remain unchanged.
This means that some contributions don’t have to be
invested for the full 10 years for your profit to acquire the
tax-paid status.
However, if contributions in a policy year exceed 125% of the
previous year’s contributions, the start date of the 10 year tax
period will change to the start of the policy year in which the
excess contributions were made.
Your policy year is based on when your policy initially
commenced.
An example of the maximum annual contributions you can
make while complying with the 125% rule is illustrated in
the graph below. (Note: this assumes an initial investment of
$10,000 and the maximum amount allowable under the 125%
rule is contributed each year.)
If no further contributions are made in any one policy year, any
contributions received in a subsequent year would be treated
as exceeding the 125% limit. This would result in a re-start of
the 10 year tax period.
If you know a contribution will exceed the 125% rule and you
want to preserve your original 10 year tax profile, it may be more
appropriate to start a new policy. If you start a new policy it means
the start date of your existing policy remains unchanged under
the tax rules. You should discuss this with your financial adviser.
We will keep you informed of your previous year’s
contributions by sending you an annual statement for the
period ended 30 June every year.
9Investment Growth Bond
Guarantees that can offer capital protection
Safety and security are important considerations for many people, especially when the market is volatile. The issuer of the Bond,
CMLA, offers a number of guarantees to protect your capital.
You’re investing in safe hands.
There are a number of guarantees within the Bond that offer capital protection.
Should the last surviving Life Insured reach their 99th birthday,
the Policy Owner may request a full withdrawal of the Bond
and the Death Benefit Guarantee would still apply. As such, we
would pay the greater of the two amounts described above.
In this circumstance, the withdrawal documentation (see page
15) must be received at least 10 working days prior to the
last surviving Life Insured’s 99th birthday. The effective date
of the Death Benefit Guarantee calculation will be the date of
the 99th birthday of the last surviving Life Insured. If the full
withdrawal request is not received by us within this required
time, the Death Benefit Guarantee does not apply.
Once the benefit has been paid under the Death Benefit
Guarantee the Bond comes to an end. Where the last
surviving Life Insured dies after their 99th birthday the
cash value of the Bond will be payable. The Death Benefit
Guarantee does not apply.
1. The Death Benefit Guarantee (DBG)
The Death Benefit Guarantee offers you knowledge that we can help protect your investment with us regardless of market
conditions.
CommInsure guarantees that if the last surviving Life Insured (see page 16) dies on or prior to their 99th birthday, we will pay the
greater of the following amounts as at the day all our claim requirements are met (see page 15):
a) the cash value of the Bond.
The cash value is the number of units held in the Bond multiplied by the unit price applicable at the relevant date.
OR
b) the lesser of the Net Contribution Value and the Maximum Amount.
The Net Contribution Value is the total value of all deposits less any withdrawals that have occurred during the life of the policy,
less any Switching fees, Withdrawal fees and Adviser Service Fees deducted during the life of the policy (see page 26).
The Maximum Amount is limited to $1 million per Life Insured (or such other amount we advise you in writing). Where multiple
Investment Growth Bond policies have the same Life Insured nominated, CMLA will guarantee a total of the Maximum Amount
across all policies. Any decrease in the guarantee to the Maximum Amount would only apply to new policies from the date of
the change.
Your deposits are the initial contribution plus any subsequent contributions that you’ve made.
To qualify for the Death Benefit Guarantee, the younger Life Insured on the policy must be aged less than 85 years of age at
policy commencement.
Example 1 - See illustration on following page
On the death of the last surviving life insured we will pay the
greater of:
a) the cash value
Cash value = 50,000 units x $2.50 unit price = $125,000
OR
b) the lesser of the Net Contribution Value and the
Maximum Amount
Net Contribution Value = $120,000 (initial contribution) +
$50,000 (additional contributions) – $9,000 (withdrawals)
- $1,000 (Adviser Service Fees) = $160,000
Maximum Amount = $1,000,000
In this example we would pay $160,000. The $35,000
difference between this amount and the cash value
represents the Death Benefit Guarantee.
Example 2
On the death of the last surviving life insured we will pay the
greater of:
a) the cash value
Cash value = 650,000 units x $1.36 unit price = $884,000
OR
b) the lesser of the Net Contribution Value and the
Maximum Amount
Net Contribution Value = $800,000 (initial contribution) +
$250,000 (additional contributions) – $10,000 (withdrawals)
= $1,040,000
Maximum Amount = $1,000,000
In this example we would pay $1,000,000. The $116,000
difference between this amount and the cash value represents
the Death Benefit Guarantee.
10 Investment Growth Bond
Example 1 - How the Death Benet Guarantee works
DBG
$35k
On the death of the last surviving life insured we will pay the greater of a) or b)
a) The cash value
50,000 units x $2.50 unit price = $125,000
b) The lesser of the Net Contribution Value and the
Maximum Amount
$120,000 (initial contribution) + $50,000
(additional contributions) - $9,000 (withdrawals) -
$1,000 (Adviser Service Fees) = $160,000
In this example we would pay $160,000. The $35,000 difference between this amount and the cash value represents the Death
Benefit Guarantee.
01/01/17
Cash Value Net Contribution Value
20,000
0
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
01/01/21 01/01/25
01/01/19 01/01/23 01/01/27
01/01/18 01/01/22 01/01/26
01/01/20 01/01/24
Initial
contribution
$120k
Less Adviser
Service Fee
$1k
Additional
contribution
$50k
Withdraw
$9k
On death of the last surviving Life
Insured, the Estate would receive the
Net Contribution Value of $160k
OR
11Investment Growth Bond
12 Investment Growth Bond
How the investment option guarantees work
2. Investment Option Guarantees
Guarantees are also provided by us for four investment options.
NC – Cash What is guaranteed?
The unit price will never fall.
This means any rise in the unit price since the units were purchased is also guaranteed.
NC – Global Fixed Interest What is guaranteed?
If you withdraw or switch units out of this investment option after they’ve been held by you
for at least two years, the unit price used to calculate the value of your withdrawal or switch
will be at least equal to the price at the time you were allocated those units or switched into
this option.*
NC – Conservative What is guaranteed?
If you withdraw or switch units out of this investment option after they’ve been held by you
for at least three years, the unit price used to calculate the value of your withdrawal or switch
will be at least equal to the price at the time you were allocated those units or switched into
this option.*
NC – Diversified What is guaranteed?
If you withdraw or switch units out of this investment option after they’ve been held by you
for at least three years, the unit price used to calculate the value of your withdrawal or switch
will be at least equal to the price at the time you were allocated those units or switched into
this option.*
Except to the extent that has just been stated:
your investment with us is not guaranteed
the value of your investment can rise and fall on a day-to-day basis.
*Withdrawals or switches out of these investment options before the number of years mentioned above will use the unit price calculated for the day on which the
withdrawal or switch occurs.
Application date 4 years date 6 years date
Unit Prices
Dates
Scenario 1: John invested $100,000 in the NC-Diversified
option and the unit price at application was $1.00. After four
years he withdraws 50,000 units, the unit price at the date of
withdrawal is $0.78.
This withdrawal is after the guarantee period of at least three
years, so John receives 50,000 x $1.000 = $50,000 rather
than the current unit price of $0.78 which would have been
$39,000. The guarantee has protected him against market risk.
Scenario 2: John after six years withdraws the balance of units
(50,000 units), the unit price at date of withdrawal is $1.50 per
unit. As the unit price is higher than the guaranteed unit price
the withdrawal amount is 50,000 units x $1.50 = $75,000.
Note: These scenarios do not take into account any personal
tax implications.
These scenarios demonstrate the advantage of the investment option guarantees,
protecting a client’s portfolio against market risk.
$1.50
$1.00
$0.00
$0.78
13Investment Growth Bond
How do Iinvest?
Investing in the Bond is easy.
Investment maximum and minimum
Minimum initial investment $1,000
Minimum investment and balance per
investment option
$200
Minimum additional contribution $200
Maximum B
PAY
®
per contribution $100,000
If you wish to invest in the Bond you’ll need to complete
the Application Form at the back of this PDS and any of our
required Anti-Money Laundering Identification forms.
You can pay the initial investment by:
cheque – attach a cheque to your Application Form and
make it payable to ‘CMLA – Investment Growth Bond’; or
BPAY
®
, which is a secure and convenient way to make
payments by phone or internet from your bank, building
society or credit union. We cannot accept BPAY
®
payments
from your credit or debit card.
If you indicate payment by B
PAY
®
on your Application
Form we’ll contact your financial adviser (or you, if you
do not have an adviser) and provide you with your unique
Customer Reference Number (CRN). To make the payment,
you’ll need to use your CRN along with our Biller Code
303156.
direct credit investment using recipient reference
‘IGB <insert your account name>’ into the following
bank account:
Account name: CMLA No 1 account, BSB: 062 000,
Account number: 1085 2246
Request a receipt for the deposit. Attach a copy of
the deposit receipt to your application and forward to
us by post.
Please note:
we cannot process your Application until we:
receive your completed Application Form
verify your identity
receive any other documents we may require, and
receive your initial investment payment at our
registry office.
it’s also important to read ‘How are unit prices calculated?’
on page 28 to understand how your Application will be
processed.
When you invest in the Bond you’ll receive:
a policy document, which tells you more about your
investment and sets out the terms of your policy, and
a policy schedule giving details of the amount you’ve
invested and the investment options you have chosen.
Making transactions
Topping up your Bond
You can increase your investment in the Bond by making
additional contributions (see the 125% rule on page 9).
You’ll need to choose a payment method and provide us
with written instructions on how you’d like your contribution
to be invested. You can do this by sending a covering letter
or completing the Change of Details form available online at
commbank.com.au/igb
You can pay your additional contribution by:
cheque – attach a cheque to your instruction and make it
payable to ‘CMLA – Investment Growth Bond’, or
to use BPAY
®
, you’ll need your unique Customer Reference
Number (CRN) and our Biller Code 303156. If you don’t
have a CRN call us on 1800 624 100 from 8.30 am to 6 pm
(Sydney time), Monday to Friday.
BPAY
®
payments can be made by phone or internet from
your bank, building society or credit union. B
PAY
®
is an easy
way to make additional contributions. We do not accept
BPAY
®
payments from your credit or debit card. Any BPAY
®
payments from credit or debit cards will be returned to you.
The Colonial Mutual Life Assurance Society Limited (CMLA)
will not be responsible for any losses, delays or costs
associated with returning the contribution payment.
®Registered to BPAY
®
Pty Ltd ABN 69 079 137 518
Did you know?
You are able to make regular investments to your
Bond by setting up a regular BPAY
®
payment with your
financial institution.
Please note:
Unless advised otherwise, your additional contribution will
be invested according to your current investment option
instructions with us.
If we receive any new investment option instructions
after we’ve allocated your contribution we’ll switch your
investment into the investment allocation you want.
It’s important to read the section ‘How are unit prices
calculated?’ on page 28 to understand how your
contribution will be processed.
You can keep track of your contributions and the 125%
rule (see page 9) by calling us.
Additional contribution forms are available online at
commbank.com.au/igb or by calling us on 1800 624 100.
Switching between investment options
A switch is when you withdraw from one investment option and
invest into another in that bond. These two transactions will
be completed on the same day (see page 28). The minimum
amount you can switch is $200.
You have the flexibility to switch investments at any time, with
no current switching fee (see page 26). All you need to do is
complete the Change of Details form available online at
commbank.com.au/igb
14 Investment Growth Bond
Before you switch, you need to check the risk and return
profiles of the different investment options to make sure they
suit your needs. Your financial adviser can assist you with this.
We may add, close or remove any of the investment options
at any time. If either of the last two happens, we may switch
you to an alternative investment option that we consider
appropriate.
Making a withdrawal
Full or partial withdrawals
Although the Bond is designed for you to invest over the long
term, you can access your money at any time.
Minimum partial
withdrawal
Minimum automatic
regular withdrawal
$1,000 $500 (conditions apply)
Please note:
When you make a full withdrawal, you’ll need to return your
Policy Schedule and Policy Document to us.
For partial withdrawals, when redeeming units for the
purpose of calculating the withdrawal value we will start
with those units with the oldest date of issue.
There may be tax implications for withdrawals made within
the 10 year tax period (see page 8).
There are currently no withdrawal fees (see page 26).
Withdrawal forms are available online at
commbank.com.au/igb or by calling us on 1800 624 100.
Automatic regular withdrawals
If you’d like to receive regular withdrawals from your Bond,
and you’ve invested at least $10,000, you can set up an
automatic withdrawal facility:
you can choose monthly, quarterly, half-yearly, or yearly
regular payments, and the date the payments start and
finish
you can increase your payments by a percentage
each year
the minimum automatic withdrawal is $500.
This can be done as part of the Application Form, or once the
Bond has commenced, by completing the Change of Details
form available online at commbank.com.au/igb
Withdrawals on death
The investment, including any Death Benefit Guarantee that
may be applicable (see page 10), will be paid as at the day
all our claim requirements are met.
The claim requirements can include:
the Policy Document and Policy Schedule
satisfactory proof of the claimant’s identity
satisfactory proof of the death, specifying the cause of
death
written instructions for the payment of the monies
any other documents we may reasonably require.
15Investment Growth Bond
Ownership, Lives Insured
andNominating Beneciaries.
Three participants to a Bond
There can be three types of participants to a Bond:
Policy Owner
Life Insured
Beneficiaries.
The Policy Owner
The legal owner of the Bond is known as the Policy Owner
(or Policy Holder). The Bond can also have joint owners.
If there is more than one Policy Owner, the Policy Owners
own the Bond as joint tenants.
Who can be a Policy Owner?
anyone aged 16 years or older
a company, trust or other legal entity (such as deceased
estates)
children between the ages of 10 and under 16, with
parental or guardian consent.
Alternatively, an adult may wish to set up a Child Advancement
Policy (refer to the Child Advancement Policy section on the
following page for further information).
If there is only one Policy Owner and they die before the last
surviving Life Insured, ownership of the Bond will transfer to
the Policy Owner’s estate. If the Bond is jointly held, ownership
will pass to any surviving Policy Owners upon the death of a
joint Policy Owner.
The Life Insured
The Policy Owner can nominate one or more natural persons
of any age as a ‘Life Insured’ for the Bond. If you don’t
nominate a Life Insured, you (and any joint owners) will become
the Life/Lives Insured.
The Life Insured cannot be changed once the Bond has started.
If the last surviving Life Insured dies the Bond will cease
and the proceeds will be paid to either the Policy Owner,
nominated beneficiary or their estate, as applicable.
Beneficiaries
The Policy Owner is able to nominate one or more
beneficiaries where the Policy Owner is also the Life Insured.
Where the Bond is jointly held, all owners must be the Lives
Insured to be able to jointly nominate a beneficiary.
You can nominate beneficiaries by completing the form
at the back of this PDS. It’s important that you read the
rules on the Nomination of Beneficiary form before
nominating beneficiaries.
A nominated beneficiary will receive the proceeds of the
Bond tax free when we receive confirmation of the death of
the last surviving Policy Owner (see page 15). If the Policy
Owner doesn’t nominate a beneficiary the proceeds of the
Bond will form part of the Policy Owner’s estate. If jointly held,
ownership passes to the surviving joint owner and existing
beneficiary nominations become null and void.
The surviving policy owner will need to advise us of their new
beneficiary nominations.
An advantage of nominating beneficiaries is that they can
receive the proceeds from the Bond upon the Policy Owner’s
death (in the proportions nominated by the Policy Owner)
without having to deal with issues such as delays in the
granting of probate.
16 Investment Growth Bond
Child Advancement Policy
Child Advancement Policies are designed for anyone,
such as a parent, grandparent, other family members or
friends, whod like to invest for a child’s future financial
needs. Child Advancement Policies cannot be set up in
joint Ownership.
Ownership of the policy will transfer to the child when they
reach the nominated age. This age is known as the ‘vesting
age’. For any one Child Advancement Policy
there can be only one Policy Owner and one Life Insured
(in this case, the child). These are some things you need to
consider before choosing a Child Advancement Policy:
the child must be under the age of 16 at the start
of the policy
the vesting age you stipulate can be any age from 10
to 25 years of age. If no vesting age is nominated then,
under current law, vesting will happen automatically
when the child turns 25 years of age
if ownership vests to the child while the child is under
the age of 16, a parent’s or guardian’s signature is
needed for all contributions and withdrawals while the
child remains under the age of 16
on reaching vesting age, transfer of ownership to the child
happens automatically, without any tax consequences,
and without incurring any fees or charges.
If the owner of a Child Advancement Policy dies before
the child has reached vesting age, ownership will transfer
to the Policy Owner’s estate.
Child Advancement Policy certificate
If you are giving the Child Advancement Policy as a
gift and would like a certificate, please indicate on the
Application Form. The certificate will be issued at no
additional cost to you.
Transfer of ownership
If the Policy Owner is aged 16 or over, they can arrange to
transfer (assign) ownership of the Bond to another party at
any time by completing a Memorandum of Transfer form and
sending it to us. They can contact us for the transfer form
on 1800 624 100 from 8.30 am to 6 pm (Sydney time),
Monday to Friday.
When ownership of the Bond is transferred, any existing
nominated beneficiaries become null and void. The new Policy
Owner should provide details of the beneficiaries they wish to
nominate (if any) on the Nomination of Beneficiary form at the
back of this PDS.
Ownership of a Child Advancement Policy may be transferred
to another person at any time before the child has reached
the vesting age. Please note: you may be required to pay any
applicable stamp duty for the transfer before sending us the
form. Please refer to your local Office of State Revenue for
further information.
17Investment Growth Bond
Investment matters.
Your nancial adviser will explain to you the investment options and help
you consider which investment option or mix of investment options is
appropriate for you based on your personal circumstances, attitude to risk
and investment goals.
How your money is invested
Where is your money invested?
Your investment in the Bond is pooled with money from
other investors in the CMLA No. 1L Statutory Fund. The
aim is to improve returns to all investors by using a range of
investments usually unavailable to individual small investors.
Investments into the Bond are used to purchase units in the
selected investment option(s) (refer to pages 22-25). Changes
in the value of these units reflect the investment returns.
Selection and review of investment managers
In keeping with our goal to offer competitive investment options,
investment specialists are employed within the business
to manage the selection and ongoing review of appointed
investment managers. Investment managers are carefully
chosen for their expertise in a particular asset class. Selection
of the investment managers is based not just on their individual
merits, but also on their ability to complement each other’s
investment style to provide a more consistent investment
outcome in different market conditions. Once selected, each
investment manager is regularly monitored and evaluated on
a number of criteria, including their ongoing performance,
investment process, service levels and their overall financial
stability, to ensure they continue to meet selection standards.
An investment manager for an underlying fund may be added,
or removed, but only after careful consideration. We reserve
the right to add or remove investment managers at any time,
or to change the allocation between investment managers
within an asset class, without notice.
Who manages your investments?
Details of the current investment managers in respect
of the underlying funds for the CommInsure Investment
Growth Bond can be found at any time on our website
at commbank.com.au/igb
Or you can contact us on 1800 624 100 to request details
of the changes in writing which we will send to you free of
charge.
Responsible investing
Environmental, Social and Governance (ESG) factors, can
have a material impact on investment outcomes and therefore
CommInsure considers these factors when determining each
investment option’s strategy. CommInsure is a signatory to the
Principles for Responsible Investment (PRI), which provides a
framework for the mainstream global investment community to
incorporate ESG factors into their investment processes.
CommInsure outsources the implementation of most of
its investment strategies to external investment managers
and it is expected that each investment manager will have
regard to ESG factors, including labour standards and ethical
issues if they believe they will have a meaningful impact on
investment performance. Each investment manager may have
its own policy on the extent to which labour standards or
environmental, social and ethical issues are taken into account
when making investment decisions. When selecting managers,
CommInsure considers the extent to which each manager
incorporates ESG factors into their investment processes.
CommInsure does not have a predetermined approach for
how managers or CommInsure in the case of assets managed
directly by CommInsure, should consider labour standards or
environmental, social or ethical factors when making investment
decisions.
CommInsure’s ESG approach is reflected in its PRI ratings,
receiving an A rating in five out of seven categories in 2019.
18 Investment Growth Bond
Your investment strategy.
Theres a lot to consider when you’re investing. Here are some of the
requirements to discuss and understand with your nancial adviser.
Time horizon
The length of time you expect your money to be invested is
an important consideration when selecting your investment.
If it’s a longer time, you may be able to afford to be more
aggressive as you can ride out the ups and downs of the
investment’s value. This may mean higher returns and
higher risk on your investment.
With a shorter horizon you may want to invest more
conservatively, due to the same possible ups and downs.
Rate of return
Another important consideration is the rate of return.
The temptation may be to invest in the strategy that’s
expected to deliver the highest returns.
Higher returns, however, are normally associated with
higher risks.
Generally, strategies that invest primarily in growth assets
have, over the long-term, delivered the highest returns.
It may not be necessary to take the higher risk to achieve
your investment goals.
Risk tolerance
You also need to be comfortable with the risk level of your
investment. Some people can relax when their investment
goes up and down. Others can worry at the slightest drop
in value.
A longer time horizon may mean that you are not as
concerned about any fluctuations.
19Investment Growth Bond
Investment risks.
What is risk?
All investments are subject to risk and there are many
different types of risk. You need to know what they are and
consider how comfortable you are with them before choosing
an investment strategy.
Types of risk
Market
Investment returns are influenced by the performance of the
market as a whole. This means that your investments can
be affected by things like changes in interest rates, investor
sentiment and global events, depending on which markets or
asset classes you invest in.
Economic and political
Some countries or regions are often affected by situations
such as economic breakdown or political unrest. This
can have a negative impact on the returns and value of
investments in those areas.
Security specific
Some investments have their own inherent risks, e.g. the
value of a company’s shares can change due to changes in
management, business environment, economic market and
level of debt or profitability.
Currency
Returns from unhedged international investments are
affected by exchange rates. When foreign currencies rise in
value relative to the Australian dollar there can be a positive
impact on returns. The opposite can happen when foreign
currencies fall.
Inflation
Ideally, you want your investments to perform at a level equal
to or greater than the inflation rate. Otherwise, in real terms,
your investment is falling.
Credit
Generally associated with cash and fixed interest investments,
this is the risk that the borrower will default on the repayment
of the loan.
Interest rate
Also associated with fixed interest investments, this is the risk
that interest rates will rise, resulting in capital loss.
Liquidity
Some investments, such as property and infrastructure may
be difficult to liquidate. If an asset needs to be realised quickly,
it may have to be sold at a discount.
Management
Each investment option in the PDS has an investment manager
to manage your investments on your behalf. There is a risk that
the investment manager will not perform to expectation.
Ways to manage risk
Asset diversification
The different types of risk have a different impact on the
performance of each asset class during a given period of time.
By diversifying your investments across several asset classes,
several geographic regions or even many different investments
of the same type, you reduce the risk that your investments
will perform badly if one asset class, region or investment
performs poorly during a given period of time.
Financial derivatives
In managing your investment, financial derivatives such as
futures, options and forward rate agreements may be used.
Where financial derivatives are used, controls are in place to
ensure derivatives exposure is managed within specified limits.
Ways to measure risk
Standard Risk Measure (SRM)
We have adopted the Standard Risk Measure (SRM), which
is based on industry guidance, to allow investors to compare
investment options that are expected to deliver a similar
number of negative annual returns over any 20-year period
(as outlined in the table below). The SRM for each option
is also a measure of the risk objective of the option. It is a
measure of the expected variability of the return of the option.
The SRM is not a complete assessment of all forms of
investment risk; for instance, it does not detail what the size of
a negative return could be or the potential for a positive return
to be less than an investor may require to meet their objectives.
Further, it does not take into account the impact of the
proportion of the management fee attributable to administration
costs and tax on the likelihood of a negative return.
Investors should still ensure that they are comfortable
with the risks and potential losses associated with their
chosen investment option(s). The SRM should not be
considered personal advice. Investors should regularly
review their investment decision with their financial adviser.
Risk label
Estimated number of
negative annual returns
over any 20-year period
Very Low Less than 0.5
Low 0.5 to less than 1
Low to medium 1 to less than 2
Medium 2 to less than 3
Medium to high 3 to less than 4
High 4 to less than 6
Very high 6 or greater
20 Investment Growth Bond
21Investment Growth Bond
Fund NC* – Cash NC* – Global Fixed Interest NC* – Global Property NC* – Australian Shares NC* – International Shares
Investment objective To provide the highest level of security
with income from investments in
money marketsecurities.
To provide relatively stable returns
by investing in Australian and global
fixed interestsecurities.
To provide long-term capital growth
and income from a diversified portfolio
of global listed property investments.
To provide long-term capital growth
through investment in Australian listed
company shares. This option may have
a high level of short-to-medium-term
volatility.
To provide long-term capital growth
through investment in global
listed company shares. This option
may have a high level of short-to-
medium-term volatility.
Risk/return profile This option is suited to investors who
want a high degree of security.
This option is suited to investors who
want a reasonable level of security with
the potential to provide higher returns
than cash options.
This option is suited to investors
seeking the potential of high long-
term growth with some volatility over
shorter time periods.
This option is suited to investors
seeking high returns who are
prepared to accept volatility of
returns.
This option is suited to investors
seeking high returns who are prepared
to accept volatility of returns.
Recommended minimum
investment period
No minimum 3 years 7 years 7 years 7 years
Standard Risk Measure Very Low Medium Very high Very high Very high
Guarantees Yes. See page 13. Yes. See page 13. N/A N/A N/A
Asset allocation benchmarks
and ranges
1
Global shares 0% 0%
Australian shares 0% 0%
Global listed property 0% 0%
Alternatives 0% 0%
Fixed interest 0% 0%
Cash 100% 100%
Benchmark Range
100%
Global shares 0% 0%
Australian shares 0% 0%
Global listed property 0% 0%
Alternatives 0% 0%
Fixed interest 100% 80-100%
Cash 0% 0-20%
Benchmark Range
100%
100%
Global shares 0% 0%
Australian shares
#
100% 90-100%
Global listed property 0% 0%
Alternatives 0% 0%
Fixed interest 0% 0%
Cash 0% 0-10%
Benchmark Range
100%
Global shares 100% 90-100%
Australian shares 0% 0%
Global listed property 0% 0%
Alternatives 0% 0%
Fixed interest 0% 0%
Cash 0% 0-10%
Benchmark Range
100%
Date fund commenced in product 18 March 2013 18 March 2013 18 March 2013 18 March 2013 18 March 2013
Single-sector
investment options.
Your nancial adviser should talk you through the investment options
and help you consider which investment option or mix of investment
options will best suit you, your situation and your goals.
*NC - Nil Commission
1 For assets held outside of Australia, we have target levels of currency hedging. For Global Fixed Interest and Global Listed Property, we target a 100 per cent hedged currency position. For International
Shares, we target a 0 per cent hedged currency position. For Alternatives the targeted hedged currency position varies depending on the underlying Alternatives strategy. We reserve the right to change the
target levels of currency hedging at any time without prior notice to you. Actual levels of currency hedging may also differ to the target levels of currency hedging over time.
Information on asset allocation is subject to change. For up to date information call 1800 624 100 between 8.30 am and 6 pm (Sydney time) Monday to Friday, or log on to commbank.com.au/igb at any time.
22 Investment Growth Bond
Fund NC* – Cash NC* – Global Fixed Interest NC* – Global Property NC* – Australian Shares NC* – International Shares
Investment objective To provide the highest level of security
with income from investments in
money marketsecurities.
To provide relatively stable returns
by investing in Australian and global
fixed interestsecurities.
To provide long-term capital growth
and income from a diversified portfolio
of global listed property investments.
To provide long-term capital growth
through investment in Australian listed
company shares. This option may have
a high level of short-to-medium-term
volatility.
To provide long-term capital growth
through investment in global
listed company shares. This option
may have a high level of short-to-
medium-term volatility.
Risk/return profile This option is suited to investors who
want a high degree of security.
This option is suited to investors who
want a reasonable level of security with
the potential to provide higher returns
than cash options.
This option is suited to investors
seeking the potential of high long-
term growth with some volatility over
shorter time periods.
This option is suited to investors
seeking high returns who are
prepared to accept volatility of
returns.
This option is suited to investors
seeking high returns who are prepared
to accept volatility of returns.
Recommended minimum
investment period
No minimum 3 years 7 years 7 years 7 years
Standard Risk Measure Very Low Medium Very high Very high Very high
Guarantees Yes. See page 13. Yes. See page 13. N/A N/A N/A
Asset allocation benchmarks
and ranges
1
Global shares 0% 0%
Australian shares 0% 0%
Global listed property 0% 0%
Alternatives 0% 0%
Fixed interest 0% 0%
Cash 100% 100%
Benchmark Range
100%
Global shares 0% 0%
Australian shares 0% 0%
Global listed property 0% 0%
Alternatives 0% 0%
Fixed interest 100% 80-100%
Cash 0% 0-20%
Benchmark Range
100%
Global shares 0% 0%
Australian shares 0% 0%
Global listed property 100% 95-100%
Alternatives 0% 0%
Fixed interest 0% 0%
Cash 0% 0-5%
Benchmark Range
100%
Global shares 0% 0%
Australian shares
#
100% 90-100%
Global listed property 0% 0%
Alternatives 0% 0%
Fixed interest 0% 0%
Cash 0% 0-10%
Benchmark Range
100%
Global shares 100% 90-100%
Australian shares 0% 0%
Global listed property 0% 0%
Alternatives 0% 0%
Fixed interest 0% 0%
Cash 0% 0-10%
Benchmark Range
100%
Date fund commenced in product 18 March 2013 18 March 2013 18 March 2013 18 March 2013 18 March 2013
#
Up to 4% of the option may be invested in International Shares, with currency hedging at the discretion of the manager.
*NC - Nil Commission
1 For assets held outside of Australia, we have target levels of currency hedging. For Global Fixed Interest and Global Listed Property, we target a 100 per cent hedged currency position. For International
Shares, we target a 0 per cent hedged currency position. For Alternatives the targeted hedged currency position varies depending on the underlying Alternatives strategy. We reserve the right to change the
target levels of currency hedging at any time without prior notice to you. Actual levels of currency hedging may also differ to the target levels of currency hedging over time.
Information on asset allocation is subject to change. For up to date information call 1800 624 100 between 8.30 am and 6 pm (Sydney time) Monday to Friday, or log on to commbank.com.au/igb at any time.
23Investment Growth Bond
Multi-sector
investmentoptions.
Your nancial adviser should talk you through the investment options and
help you consider which investment option or mix of investment options will
best suit you, your situation and your goals.
Fund NC* – Conservative NC* – Diversified NC* – Managed NC* - Growth
Investment objective To invest in a diversified portfolio of
assets expected to generate a mix
of income and long-term capital
growth with an emphasis on stable
returns and a reasonably high levelof
security.
To invest in a diversified portfolio of
assets expected to generate a mix of
long-term capital growth and income
with a moderate level of security and
relatively stable returns.
To invest in a diversified portfolio of
assets expected to generate a mix of
long-term capital growth and income,
but which may be volatile in the short-
to-medium term.
To invest in a diversified portfolio of
predominantly growth assets expected
to generate a mix of long-term capital
growth and income but which may
be quite volatile inthe short-to-
medium term.
Risk/return profile This option is suited to investors
who want returns that are less volatile
than from options with a greater bias
to growth investments.
This option is suited to investors seeking
long-term growth who are prepared to
accept some volatility of returns.
This option is suited to investors
seeking long-term growth who are
prepared to accept some volatility
of returns.
This option is suited to investors
seeking high returns who are
prepared to accept volatility of
returns.
Recommended minimum
investment period
3 years 5 years 6 years 7 years
Standard Risk Measure Low to medium Medium to high High High
Guarantees Yes. See page 13. Yes. See page 13. N/A N/A
Asset allocation benchmarks
and ranges
1
Date fund commenced in product 18 March 2013 18 March 2013 18 March 2013 18 March 2013
Global shares 19% 5-25%
Australian shares
#
19% 5-25%
Benchmark Range
Fixed interest 28% 15-45%
Alternatives 17% 0-25%
Cash 17% 10-35%
Growth Assets
Defensive Assets
55% 35-65%
45% 35-65%
Global shares 10% 4-20%
35% 15-45%
65% 55-85%
Australian shares
#
10% 4-20%
Benchmark Range
Fixed interest 38% 25-50%
Alternatives 15% 0-25%
Cash 27% 15-45%
Growth Assets
Defensive Assets
#
Up to 4% of the allocation to Australian Shares may be invested in International Shares, with currency hedging at the discretion of the manager.
*NC - Nil Commission
1 For assets held outside of Australia, we have target levels of currency hedging. For Global Fixed Interest and Global Listed Property, we target a 100 per cent hedged currency position. For International
Shares, we target a 0 per cent hedged currency position. For Alternatives the targeted hedged currency position varies depending on the underlying Alternatives strategy. We reserve the right to change the
target levels of currency hedging at any time without prior notice to you. Actual levels of currency hedging may also differ to the target levels of currency hedging over time.
Information on asset allocation is subject to change. For up to date information call 1800 624 100 between 8.30 am and 6 pm (Sydney time) Monday to Friday, or log on to commbank.com.au/igb at any time.
24 Investment Growth Bond
Your nancial adviser should talk you through the investment options and
help you consider which investment option or mix of investment options will
best suit you, your situation and your goals.
Fund NC* – Conservative NC* – Diversified NC* – Managed NC* - Growth
Investment objective To invest in a diversified portfolio of
assets expected to generate a mix
of income and long-term capital
growth with an emphasis on stable
returns and a reasonably high levelof
security.
To invest in a diversified portfolio of
assets expected to generate a mix of
long-term capital growth and income
with a moderate level of security and
relatively stable returns.
To invest in a diversified portfolio of
assets expected to generate a mix of
long-term capital growth and income,
but which may be volatile in the short-
to-medium term.
To invest in a diversified portfolio of
predominantly growth assets expected
to generate a mix of long-term capital
growth and income but which may
be quite volatile inthe short-to-
medium term.
Risk/return profile This option is suited to investors
who want returns that are less volatile
than from options with a greater bias
to growth investments.
This option is suited to investors seeking
long-term growth who are prepared to
accept some volatility of returns.
This option is suited to investors
seeking long-term growth who are
prepared to accept some volatility
of returns.
This option is suited to investors
seeking high returns who are
prepared to accept volatility of
returns.
Recommended minimum
investment period
3 years 5 years 6 years 7 years
Standard Risk Measure Low to medium Medium to high High High
Guarantees Yes. See page 13. Yes. See page 13. N/A N/A
Asset allocation benchmarks
and ranges
1
Date fund commenced in product 18 March 2013 18 March 2013 18 March 2013 18 March 2013
Global shares 28% 15-40%
Australian shares
#
28% 15-40%
Benchmark Range
Fixed interest 18% 5-35%
Alternatives 19% 0-30%
Cash 7% 0-20%
Growth Assets
Defensive Assets
75% 55-85%
25% 15-45%
Global shares 34% 20-50%
Australian shares
#
34% 20-50%
Benchmark Range
Fixed interest 7% 0-25%
Alternatives 22% 0-30%
Cash 3% 0-25%
Growth Assets
Defensive Assets
90%
75-100%
10% 0-25%
#
Up to 4% of the allocation to Australian Shares may be invested in International Shares, with currency hedging at the discretion of the manager.
*NC - Nil Commission
1 For assets held outside of Australia, we have target levels of currency hedging. For Global Fixed Interest and Global Listed Property, we target a 100 per cent hedged currency position. For International
Shares, we target a 0 per cent hedged currency position. For Alternatives the targeted hedged currency position varies depending on the underlying Alternatives strategy. We reserve the right to change the
target levels of currency hedging at any time without prior notice to you. Actual levels of currency hedging may also differ to the target levels of currency hedging over time.
Information on asset allocation is subject to change. For up to date information call 1800 624 100 between 8.30 am and 6 pm (Sydney time) Monday to Friday, or log on to commbank.com.au/igb at any time.
25Investment Growth Bond
Type of fee or cost Amount* How and when paid?
Fees when your money moves in or out of the Bond
Establishment fee:
The fee to set up your investment.
Not applicable Not applicable
Contribution fee:
The fee for each contribution to your
investment.
Not applicable Not applicable
Withdrawal fee:
The fee on each withdrawal from your
investment.
Nil This fee is currently not being
charged
Termination fee:
The fee charged to close your
investment.
Not applicable Not applicable
Management fees
Management fee:
Includes investment costs,
administration costs, any premiums
associated with the Death Benefit
Guarantee, and any guarantees
associated with the Bond.
The amount you pay for each
investment option:
NC - Cash 0.85% p.a.
NC - Global Fixed Interest 1.10% p.a.
NC - Conservative 1.20% p.a.
NC - Diversified 1.30% p.a.
NC - Managed 1.30% p.a.
NC - Growth 1.40% p.a.
NC - Global Property 1.50% p.a.
NC - Australian Shares 1.30% p.a.
NC - International Shares 1.40% p.a.
This fee is calculated as a percentage
of the total assets of the investment
option and is deducted from the
investment option assets before the
unit prices are calculated.
Service fees
Switching fee:
The fee charged for changing
investment.
Nil This fee is currently not being
charged.
Adviser Service Fee Agreed between you and your
financial adviser(s)
A one-off Adviser Service Fee will be
deducted on the nominated date.
An ongoing Adviser Service Fee will
be deducted monthly.
Refer to page 27 for more details.
It’s important to understand the various fees and costs, and how they impact
on your investment. These fees may be deducted from your investment.
Fees and other costs.
*All figures disclosed include any net effect of GST.
Did you know?
Small differences in both investment performance and fees and costs can have a substantial impact on your long term returns.
For example, total annual fees and costs of 2% of your account balance rather than 1% could reduce your final return by up to
20% over a 30 year period (for example reduce it from $100 000 to $80 000). You should consider whether features such as
superior investment performance or the provision of better member services justify higher fees and costs. You may be able to
negotiate to pay lower contribution fees and management costs where applicable. Ask the fund or your financial adviser.
To find out more
If you would like to find out more, or see the impact of the fees based on your own circumstances, the Australian Securities and
Investments Commission (ASIC) website (www.moneysmart.gov.au) has a managed investment fee calculator to help you
check out different fee options.
26 Investment Growth Bond
Additional explanation of fees and costs
To explain a little more how the Management fees work,
here is an example.
Management fee (0.85 per cent p.a. to 1.50 per cent
p.a.): if you have an average account balance of $10,000
over the year and you invest in the NC – Managed Fund
you’ll be charged $130. As this amount is deducted via the
unit price it won’t appear on your statements as a separate
transaction. The Management fee covers the costs of
managing your investment option and includes investment
and administration costs for the investment managers and
responsible entities of the underlying trusts in which we
invest. It does not include custody and other operating
expenses (e.g. audit fees) where these have been
deducted from the underlying assets. The management
fee is calculated as a percentage of the total assets of
the investment options and varies from time to time. It is
deducted from the investment option assets before the unit
prices are calculated.
Adviser Service Fees
You may agree with your financial adviser to pay a fee
for the services they have provided and/or will provide to
you. This fee is optional and is negotiated by you with your
financial adviser.
If you and your financial adviser agree to have an Adviser
Service Fee then with your consent this may be deducted
from the Bond as a one-off fee and/or as an ongoing fee.
A one-off Adviser Service Fee must be nominated as a
fixed dollar amount and you can nominate a future date
when it will be deducted. Where no future date is nominated,
we will generally deduct the Adviser Service Fee using the
Unit Price calculated on the business day after your
nomination is received.
An ongoing Adviser Service Fee can be specified as either
a fixed dollar amount or a percentage based amount. Any
ongoing Adviser Service Fee will be deducted monthly, usually
within the first five business days of a month.
Please note: where an Adviser Service Fee is selected we
do not monitor the amount of that Adviser Service Fee or
the services provided by the adviser. Financial advisers are
responsible for ensuring the set up and renewal notification
of the Adviser Service Fee arrangement with you.
Any Adviser Service Fee request should also specify which
investment option(s) the amount should be deducted from.
Where no nomination is made, it will be deducted using a
pro-rata split across the value of the investment options held
at the time of the deduction.
Any ongoing Adviser Service Fee arrangement will continue
until such time that you notify us to cease or vary the
arrangement. We require at least seven business days
advance notice prior to the end of the month to cease or vary
any ongoing Adviser Service Fee arrangement. If we do not
receive your notice of cancellation or variation at least seven
business days before the end of month any ongoing Adviser
Service Fee that was due to be deducted for that month will
be deducted from the Bond. Your revised instructions would
then apply from the following month. You will need to liaise
directly with your financial adviser where an amount higher or
lower than intended has been paid to them due to the delay in
receiving the revised instructions from you.
Example of a percentage based ongoing Adviser Service
Fee:
if you agree with your financial adviser to pay an ongoing
Adviser Service Fee of 0.40 per cent p.a. and your existing
account balance is 100,000, then the monthly amount
deducted from your policy will be (0.40 per cent x 100,000) x
(31 / 365) = $34. The actual dollar amount paid each month
will vary in line with changes to the value of your policy.
Example of a fixed dollar ongoing Adviser Service Fee:
if you agree with your financial adviser to pay an amount of
$100 per month, then $100 will be deducted each month
from your policy.
Other payments
Under arrangements entered into by us prior to 1 July 2012,
the Australian Financial Services Licensee that your financial
adviser is an Authorised Representative of, may also receive
payments of up to0.20 per cent based on the volume of
business they generate. Any suchpayments are made by us
and do not represent an additionalcost to you.
Further details on the remuneration received by your adviser
can be found in the Statement of Advice that they provided
to you.
Negotiation of fees
Management fees are not negotiable. You may, however,
advise us at any time in writing to cease or vary the payment
of any ongoing Adviser Service Fee.
Increases or alterations to fees
We reserve the right to increase or alter the following fees:
Management fees may be increased up to the maximum
level stated in your Policy Document.
The Switching fee is currently not being charged.
We are permitted to charge a fee of up to two per cent
of the amount switched.
The Withdrawal fee is currently not being charged.
We are permitted to charge a fee of up to two per cent
of the amount withdrawn.
If we do increase or alter any fees, we’ll notify you at least 30
days before the fees change.
Rebates for large investments
We may from time to time apply rebates (in the form of
additional units) to large investments by you where the
investment is equal to, or in excess of a threshold as
determined by us. Generally speaking, the investment would
need to be at least $1 million to be considered for any rebate,
however we have the discretion to vary this threshold at any
time. Please call us if you would like more information about
whether we are offering a rebate.
Please note that any rebate would be paid by us.
27Investment Growth Bond
Additional information.
The following pages cover the important information youshould know.
How are unit prices calculated?
When you invest in the Bond, you’ll be allocated units in the
investment option(s) you selected. The value of the Bond is
made up of these units multiplied by the unit price for the
relevant investment option on that day.
The unit price is calculated by dividing the value of the
investment option by the total number of units in that option.
Unit prices are rounded by us to a set number of decimal
places.
The value of an investment option is based on the current
market value of the underlying assets of that option, less
management fees and an allowance for tax. Unit prices
fluctuate with changes in the value of the investments of each
of the investment options.
There may be transaction costs associated with buying and
selling the underlying assets within options, such as brokerage
and stamp duty. These are built in to unit prices.
We must receive your request to invest, withdraw, or
switch at our office of administration by 5 pm Sydney
time on any Sydney business day in order to process
your request as described below. Requests received
after 5 pm Sydney time will be treated as though they
were received on the following Sydney business day.
Established investments
We usually calculate unit prices based on market valuations
at the close of business each business day. The unit price
allocated for a business day is generally calculated on the
following business day.
New investments
The unit price that applies to any new investment will generally
be the unit price allocated for the business day on which your
completed Application Form (including your initial payment)
isreceived.
Please note: we can only process your Bond application
when we’ve received your initial investment, a completed
Application Form and our other required forms at our
office of administration.
Additional contributions
The unit price that applies for additional contributions will
generally be the unit price allocated for the business day on
which your payment is received.
Withdrawals
The unit price for withdrawals is calculated as follows:
full or partial withdrawals – the unit price will generally be
the unit price allocated for the business day on which your
completed withdrawal request is received
regular withdrawals – the unit price will generally be the unit
price allocated for the business day the regular withdrawal
is scheduled to be withdrawn.
Switching
The respective withdrawal and deposit prices will generally be
the unit prices allocated for the business day on which your
completed switch instruction is received.
Please note: in unusual circumstances we are able to
delay processing withdrawals and switches for up to
one month.
Investment options
We may add, close, terminate or vary the investment options.
If we close or terminate an investment option, no further
investments or switches can be made into that option and
your current holding in that option may be switched to another
option as we consider appropriate. If we decide to make
these changes to the investment options we will give you one
month’s notice or any other period as permitted by law.
Unit pricing policies and procedures
We have unit pricing policies and procedures in place to
manage the unit pricing of your investment.
These policies ensure:
your investment is appropriately valued in all circumstances,
and
investors are treated consistently and equitably.
Suspension policy
Under extraordinary circumstances, such as during periods
of market disruption or other significant events, we may need
to temporarily stop calculating unit prices and/or processing
transactions.
The types of events include, but are not limited to:
where there is a significant disruption to the data, systems
or other applications necessary to establish a reliable
estimate of the value of assets, liabilities or unit prices
where unforeseen events mean that the valuation of assets
cannot in good faith be estimated
where there is a significant market movement and/or cash
inflows/outflows which are large relative to the value of the
investment option.
The calculation of unit prices and transaction processing will
resume when the risk to investor interests as a whole has
abated or been mitigated to a level acceptable to us based on
the consideration of the interests of our investors.
During such events, information and updates will be available
to you. Simply call us on 1800 624 100 between 8.30 am and
6 pm (Sydney time), Monday to Friday.
Backdating and other events
Backdating happens when a transaction needs to be
processed with an old unit price rather than the current unit
price. For example, to meet the obligations under a policy, a
unit price at the date the instruction is received may be used
rather than at the date the instruction is processed.
28 Investment Growth Bond
We will:
backdate transactions where necessary to ensure that
transacting investors receive the appropriate unit prices
required by the relevant policy obligations
make appropriate adjustments to the unit price of
affected investment options to mitigate the impacts of
the backdating and ensure that investors are not unduly
affected.
We may also:
need to make adjustments to unit prices to ensure they
reflect the ‘best estimate’ of the net value of the investment
option and its units; and
adjust the calculation of its unit prices, rather than suspend
unit pricing, in circumstances where:
errors are known to have occurred in calculating a unit
price before it was released, or
there are reasonable grounds to suspect an error
has occurred, which could not have been corrected
immediately or would have taken time to investigate
further, or
where we believe the available asset valuations do not
reflect the true or fair value of those assets, or
there are inconsistencies between the value of assets
and liabilities.
Automatic Exchange Of Information (AEOI)
Australia is one of many countries that has passed laws
and entered into international agreements for the automatic
exchange of account information to assist in making sure
everyone pays the right amount of tax. As a result, Financial
Institutions are required to identify foreign tax residents and
report their details and relevant financial account information
to their local tax authority (in Australia, this is the Australian
Taxation Office). Tax authorities will then exchange this
information with other countries who have passed similar laws.
There are two AEOI laws that may affect you, Foreign Account
Tax Compliance Act and the Common Reporting Standard.
Foreign Account Tax Compliance Act
(FATCA)
FATCA is the United States (US) Government’s legislative
framework to improve compliance with US tax laws. FATCA
imposes certain requirements including the provision of
information to the Internal Revenue Service (IRS) on foreign
(non-US) financial institutions, including Australianinstitutions.
The Australian Government has in place an intergovernmental
agreement (IGA) with the US Government. Under the terms
of the IGA, we will provide the Australian Taxation Office (ATO)
with any required information which would otherwise be
required to be submitted to the IRS.
Financial institutions are required to review customer accounts
to determine whether they are reportable accounts (accounts
held by US citizens or US tax residents) and report this
information periodically to the ATO. The information will only
relate to investors who are identified as US residents or those
whose residency cannot be identified due to insufficient
29Investment Growth Bond
Additional information (continued)
information being provided (‘non-compliant accountholders’).
Non-compliant account holders may be subject to a 30 per
cent withholding tax on part or all of the payments received
from USsources.
Common Reporting Standard (CRS)
The CRS is a global standard for the collection and exchange
of account information. You will be required to certify your
residence for tax purposes and if you are a foreign tax resident,
to supply your tax identification number or equivalent if you have
one. Where the account holder is an entity, we may also require
this information from certain individuals associated with the
entity, such as owners or controllers.
Once you have an account, we may also contact you from
time to time to confirm your tax residency and may request
additional documentation in support.
Where you are a foreign tax resident, or we have information
in our records that indicate you may be a foreign tax resident
but you have failed to respond to any request for clarification,
we are obliged to report certain account information annually
to the ATO, who will then exchange this information with the
tax authority in the appropriate country.
How do I access information?
Simply call us on 1800 624 100 between 8.30 am and 6 pm,
Monday to Friday (Sydney time).
You can:
get your investment balance
get the latest unit prices
get up-to-date investment performance information, and
change your address details.
What information will I receive?
You should keep this PDS for future reference. When you
invest in the Bond you’ll receive:
a Policy Document, which tells you more about your
investment and sets out the terms of your policy with
CMLA
a Policy Schedule giving details of the amount you’ve
invested and the investment options you’ve chosen, and
an Annual Statement that keeps you informed about
yourinvestment.
We may also provide you with confirmation notices after
processing any transaction requests received from you.
Policy variation
CommInsure has the right to vary any of the terms and
conditions, or any benefits provided under the Bond, which
CommInsure considers necessary if the law changes and
as a result:
our investment rights and powers are restricted or removed
it becomes impossible or impracticable to carry out our
valuation procedures in the way they’re specified in the
Policy
the basis of taxation for us or the Bond is changed, or
government levies or taxes are imposed or changed.
We may also change the way we calculate the unit prices,
or any other Policy provisions, for any other reason. We’ll
give you one month’s written notice of these changes (or any
greater period required by law).
Changes to this PDS
The information in this PDS is up-to-date as at the issue date
on the front cover, but may change from time to time. We may
update information that is not materially adverse to you and
make it available at commbank.com.au/igb. Alternatively,
you can call us on 1800 624 100 between 8.30am and 6pm
Monday to Friday for a free paper copy of the information.
If we make a change that is materially adverse, it will be
communicated in writing by way of a Supplementary Product
Disclosure Statement (SPDS) or a new PDS. We will generally
notify you in advance of any material change to your policy
before it occurs, and in any event as soon as practicable after
the change.
Effective date of your policy
The effective date of your policy is the date that all application
requirements, including your investment amount, are received
and accepted by us. Your policy will generally be processed
using the unit price calculated as at the close of business on
the same business day that your policy commences.
Any money received is held in a suspense account until all
requirements are finalised and does not attract interest. Where
all requirements have not been received within 28 days, your
money will be returned.
Cooling-off period
A 14 day ‘cooling-off period’ will apply to your initial
investment in the Bond under certain circumstances.
If, during the 14 day cooling-off period, you decide that
the investment does not meet your needs, then simply
advise us in writing.
The 14 day period starts when your transaction confirmation
is received by you or five days after units are issued,
whichever is earlier. We will refund your investment, reduced
or increased for market movements. This means that
the amount returned to you may differ from your original
investment. If an amount has been deducted for an Adviser
Service Fee during the cooling-off period, this will also be
refunded.
30 Investment Growth Bond
Complaints handling procedures
Most enquiries can be resolved quickly by simply talking with
us. You can call us on 1800 624 100 between 8.30 am and 6
pm (Sydney time), Monday to Friday, so we can help.
If your enquiry is not resolved to your satisfaction, you may
lodge a complaint by talking with us. Alternatively, you may
lodge your complaint in writing by sending your complaint to:
Customer Relations
PO Box 234
PARRAMAT TA NSW 2124
Or via email to:
CMLAcustomerrelations@cba.com.au
Please mark your letter ‘Notice of Complaint’
When you make a complaint we will:
acknowledge your complaint
give you a reference number and contact details so that
you can follow up if you want to
make sure we understand the issues and investigate the
cause of your concern
do everything we can to fix the problem
respond to you as quickly as possible
keep you informed of our progress if the matter can’t be
resolved quickly
keep a record of your complaint.
Australian Financial Complaints Authority (AFCA)
If you’re not satisfied with our handling of your complaint or
our decision, you may refer your complaint to the Australian
Financial Complaints Authority (AFCA). AFCA offers a free
independent dispute resolution service for consumer and
small business complaints.
You can contact AFCA on 1800 931 678 between 9 am
and 5 pm (Sydney time), Monday to Friday from anywhere in
Australia, online at www.afca.org.au, or by writing to:
Australian Financial Complaints Authority
GPO Box 3
Melbourne VIC 3001
Anti-Money Laundering and
Counter-Terrorism Financing laws
& Sanctions laws
We are required to comply with these laws, including the
need to establish your identity (and, if relevant, the identity of
other persons associated with your account). Instructions for
completing the identification process are included with the
Application Form in this PDS.
Additionally, from time to time, we may require additional
information to assist with this process. We may be required
to report information about you to the relevant authorities.
We may not be able to tell you when this occurs.
We may not be able to transact with you or other persons.
Thismay include delaying, blocking, freezing or refusing
to process a transaction or ceasing to provide you with a
product or service. This may impact on your investment and
could result in a loss of income and principal invested.
Identication and Verication form
All clients applying for a new Bond must complete the
identification procedures for the purposes of Anti-Money
Laundering and Counter-Terrorism Financing laws.
We have included the Individuals and Sole Traders
Identification and Verification form within the Application
Form. If you are making an Application for a non-individual
(for example, a company or trust) you will be required to
complete different forms to establish your identity, which can
be obtained from our forms library at commbank.com.au/igb
or by calling us on 1800 624 100. Advisers can also access
these forms through the CommInsure adviser’s website.
A list of the parties who can certify copies of the documents
is set out in the Application Form. To be correctly certified we
need the ID documents to be clearly noted ‘True and correct
copy of the original document’. The party certifying the ID
documents will also need to print their name, state what
position they hold and sign and date the certified documents.
If this certification does not appear, you may be asked to send
in new certified documents.
Electronic communication
If you’ve given us your electronic contact details, we may
use these details to provide information to you electronically,
for example, sending reminders via SMS or email. You may
also receive information on AIA Group products and services
electronically.
If you prefer to receive paper forms of communication from
us and want to opt out of electronic forms of communication,
you can tell us by calling 1800 624 100 between 8.30 am and
6 pm (Sydney time), Monday to Friday.
Privacy of your personal information
CMLAs Privacy Policy
In this section, ‘we’, ‘our’ and ‘us’ means The Colonial Mutual
Life Assurance Society Limited.
CMLA has entered into a Joint Cooperation Agreement with
AIA Australia Limited (AIA) and Commonwealth Bank of
Australia (CBA) for the joint operation of the CMLA and AIA
businesses. As part of operationalising the Joint Cooperation
Agreement, CMLA has adopted the AIA Australia Group
Privacy Policy. This section summarises key information
about how we, and the AIA Australia Group, handle personal
information. More information can be found in the full version
of the AIA Australia Group Privacy Policy which can be found
at aia.com.au/privacy. The AIA Australia Group comprises
CMLA, CMLA Services Pty Ltd ABN 88 622 557 251,
Jacques Martin Pty Ltd ABN 55 006 100 830 and Jacques
Martin Administration and Consulting Pty Ltd ABN 24 006
787 748 AFSL 235037 as well as AIA, AIA Financial Services
Limited ABN 68 008 540 252 AFSL 231109 and their related
bodies corporate.
Collecting information
The information we collect about you as a customer includes
information such as your identity and contact details, other
personal details such as age, gender and financial information.
We will not be able to administer this product for you without
this information.
31Investment Growth Bond
How we collect it
We collect this information directly from you and from others
such as service providers, agents, advisers, brokers, employers
or family members. Where you provide CMLA with information
about someone else you must have their consent to provide
their information to us as described in the AIA Australia Group
Privacy Policy.
The law may require us to identify our customers. We do this by
collecting and verifying information about you and persons who
act on your behalf. The collection and verification of information
helps to protect against identity theft, money-laundering
and other illegal activities. We may disclose your personal
information in carrying out verification, e.g. we may refer to
public records to verify information and documentation or we
may verify with an employer that the information that you have
given is accurate.
What we collect
Depending on whether you are an individual, trustee, company
or other type of organisation, the information we collect may vary.
In some instances, we may collect medical and lifestyle
information. Where we need to obtain lifestyle and medical
information from health professionals or other parties, we will
ask for your consent, except where otherwise permitted by law.
If you’re commonly known by two or more different names,
you must give us full details of your other name or names.
Where it is necessary to do so, we also collect information on
individuals such as company directors and officers (where the
company is our customer), as well as customers’ agents and
persons dealing with us on aone-off’ basis.
Also, during your relationship with us we may also seek and
collect further information about you and about your dealings
with us.
Accuracy
It’s important you provide us with accurate and complete
information. If you don’t, you may be in breach of the law and
we may not be able to provide you with products and services
that best suit your needs.
CBA Group Companies
CBA has agreed to distribute our and AIA Australia Group
products and services. For some AIA Australia Group
members, CBA provides services that support our products
and services or those of other AIA Australia Group members.
Accordingly the AIA Australia Group will disclose personal
information to CBA to help it distribute products or to enable
it to provide services to AIA Australia Group members. For
AIA Australia Group members who rely on CBA to provide
services, some personal information (but not sensitive
information) may be visible on CBA systems. For more
information on how information relating to CBA Group
Companies is managed please refer to our full privacy policy
at aia.com.au/privacy.
We may also share information for identity verification and
foreign tax compliance reporting in respect of which we and
the CBA have agreed to act on each other’s behalf. This
allows us to both use the same customer information for these
purposes without needing to each ask for the information
separately. The information shared may include, for example,
names, contact details, date of birth, product details and
identity numbers such as foreign tax identification or driver’s
licence numbers.
How do we use your personal information?
We collect, use and exchange your customer information so
that we can:
establish and verify your identity and assess applications
for products and services
price and design our products and services
administer our products and services
manage our relationship with you
manage our risks and help identify and investigate illegal
activity, such as fraud
contact you, for example if we need to tell you something
important
conduct and improve our businesses and improve your
customer experience
comply with our legal obligations and assist government
and law enforcement agencies or regulators
identify and tell you about other products or services that
we think may be of interest to you
to manage and administer our and our Affiliates’ and
partners’ business activities, products and services,
including the AIA Vitality program.
We may also collect, use and exchange your information in
other ways permitted by law.
Direct marketing
If you don’t want to receive direct marketing from us or want
to update your direct marketing preferences, you can tell us
by calling 1800 624 100 between 8.30 am and 6 pm (Sydney
time), Monday to Friday.
Gathering and combining data to get insights
Improvements in technology enable organisations, like us, to
collect and use information to get a more integrated view of
customers and provide better products and services.
The AIA Australia Group may combine customer information
it has with information available from a wide variety of external
sources (for example census or Australian Bureau of Statistics
data). We are able to analyse the data in order to gain useful
insights which can be used as mentioned above.
In addition, AIA Australia Group members may provide data
insights or related reports to others, for example to help
them understand their customers better. These are based on
aggregated information and do not contain any information
that identifies you.
Protecting your information
We comply with the Australian Privacy Principles as
incorporated into the Privacy Act 1988 (Cth). The Privacy Act
protects your sensitive information.
Additional information (continued)
32 Investment Growth Bond
Who do we exchange your information with?
We may exchange your personal information with members of
the AIA Australia Group, so that the AIA Australia Group may
adopt an integrated approach to its customers. AIA Australia
Group members may use this customer information in the
same way we use your information (see ‘How do we use your
personal information?’).
Third parties
We may exchange your information with third parties where
this is permitted by law or for any of the purposes we use your
information.
Third parties include:
those who refer your business to us
any person acting on your behalf, including your financial
adviser, solicitor, accountant, executor, administrator,
trustee, guardian or attorney
external product providers into which you might direct
some of your investment or other product providers to
which your investment might be transferred
where we are required to under domestic or foreign law
medical practitioners (to verify or clarify, if necessary, any
health information you may provide)
reinsurers and auditors
organisations to whom we may outsource certain functions
government and law enforcement agencies or regulators
entities established to help identify illegal activities and
prevent fraud
the life insured, policy owner or beneficiaries of a policy
issued by us.
In all circumstances where our contractors, agents and
outsourced service providers become aware of customer
information, confidentiality arrangements apply. Customer
information may only be used by our agents, contractors and
outsourced service providers for our purposes.
We may be required to disclose customer information by
law, e.g. under Court Orders or Statutory Notices pursuant
to taxation or social security laws or under laws relating to
sanctions, anti-money laundering or counter terrorism financing.
Sending information overseas
From time to time we may send your information overseas,
including to other AIA Group members and to service
providers or other third parties who operate or hold data
outside Australia. Where we do this, we make sure that
appropriate data handling and security arrangements are in
place. Please note that Australian law may not apply to some
of these entities.
Information may also be sent overseas to complete certain
transactions, or where this is required by law and regulation
of Australia or another country. Other overseas parties can
include reinsurers, medical or rehabilitation practitioners.
For more information about which countries we may send
your information to, see below under ‘Further information’.
Viewing your personal information
You can (subject to permitted exceptions) request access
to your personal information by contacting us on
1800 624 100 between 8.30 am and 6.00 pm (Sydney time),
Monday to Friday.
We may charge you for providing access. For more
information about our privacy and information handling
practices, please refer to the AIA Australia Group Privacy
Policy, which is available through aia.com.au/privacy.
Making a privacy complaint
We accept that sometimes we can get things wrong. If you
have a concern about your privacy you have a right to make a
complaint and we’ll do everything we can to put matters right.
For information on how to make a complaint, see below under
‘Further information’.
Further information
The AIA Australia Group Privacy Policy contains a more
detailed explanation of how we collect, use and share your
personal information, as well as the privacy complaints
process. Please read this by visiting aia.com.au/privacy or
contact us on 1800 624 100 between 8.30 am and 6 pm
(Sydney time), Monday to Friday.
How do you make changes?
To change your investment details, all you need to do is
complete the Change of Details form available online at
commbank.com.au/igb. You may wish to contact us on
1800 624 100 for assistance.
33Investment Growth Bond
®Registered to BPAY
®
Pty Ltd ABN 69 079 137 518
Checklist
Read this PDS carefully.
Complete each section of the application as required.
If you want to invest through a Child Advancement Policy,
complete section 3.
Please note that there can only be one Bond Owner and
one Life Insured when setting up a Child Advancement
Policy.
The Bond Owner should provide their details in Section 1,
and the details of the child should be provided in Sections
2 and 3.
Where the investment is being made by a child between
the ages of 10 and 16 – please complete Section 4
Parental/Guardian consent statement.
For individual/joint investors and sole traders, you or your
financial adviser must also complete the Identification and
Verification Section 9 of the Application Form.
 For companies, partnerships, superannuation funds and
other entity types, you or your financial adviser must also
complete the appropriate identification form which can be
found in our forms library at commbank.com.au/igb or
by calling us on 1800 624 100.
Methods of payment
Cheque (make payable to ‘CMLA – Investment
Growth Bond’)
B
PAY
®
, you’ll need to use your Customer Reference
Number (CRN). We will contact you or your financial
adviser to provide your unique CRN, if you nominate
BPAY
®
on your Application Form. To make the payment
you will need to use your CRN along with our Biller
Code 303156.
BPAY
®
payments can be made by phone or internet
from your bank, building society or credit union. We do
not accept BPAY
®
payments from your credit or debit
card. Any BPAY
®
payments from credit or debit cards will
be returned to you and CMLA will not be responsible
for any losses, delays or costs associated with returning
the payment.
Direct credit investment using recipient reference
‘IGB <insert your account name>’ into the following
bank account:
Account name: CMLA No 1 account
BSB: 062 000
Account number: 1085 2246
Request a receipt for the deposit. Attach a copy of the
deposit receipt to your application and forward to us.
Where to send
Please send your Application Form, cheque or direct deposit
receipt (if applicable), and certified ID, to:
Post Investment Growth Bond
New Business
PO Box 320
Silverwater NSW 2128
Adviser use only
eProcess Scan and email forms to:
NewBusinessIGB@cba.com.au
Fax 1300 852 094
If you do not have a financial adviser, please ensure you
send your application and applicable documents via post
only. We cannot accept email or fax.
So you’ve decided to invest.
Investment Growth Bond34
INVESTMENT GROWTH BOND APPLICATION FORM
Before you sign this Application, you must read the Product Disclosure Statement
(PDS) dated 1 November 2019. The PDS will help you to understand the product and
decide whether it’s appropriate to your needs.
Policy No:
Office Use Only
All Applicants need to complete this section and Section 5.
If there is more than one Applicant, they will own the policy as joint tenants.
If the Applicant is a child between 10 and 16 years old then please ensure Section 4 is completed.
If this Application is for a Child Advancement Policy then please ensure both Sections 2 and 3 are completed.
SECTION 1 - APPLICANT(S) DETAILS
Please write in BLOCK letters and use a black ballpoint pen. Fields marked with an asterisk (*) must be completed for the purposes of
Anti-Money Laundering and Counter-Terrorism Financing laws and the Foreign Account Tax Compliance Act (FATCA). In this Application,
‘you’ and ‘I/we’ refers to the proposed Applicant(s) or Life/Lives Insured or both as indicated.
Issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA).
‘CommInsure’ is used under licence by CMLA.
INVESTMENT GROWTH BOND
APPLICATION FORM.
1. For Company, Fund or Trust applications, please complete the appropriate Anti-Money Laundering and Counter Terrorism Financing form that can be
downloaded from commbank.com.au/igb or contact us on 1800 624 100 to request a copy.
003-886 011119 (BRC25)
Is the investor an individual?
Is this a Child Advancement Policy?
Yes
Yes
No
Complete below or
Complete only one Bond Owner in Section 1 and one Life Insured in Section 2.
Go to Company, Fund or Trust details on page 36
1
Given name(s)* Given name(s)*
For sole trader, full business name* (where applicable) For sole trader, full business name* (where applicable)
Surname* Surname*
Home phone number Home phone number
Mobile Mobile
Email address Email address
Date of birth* Date of birth*Gender Gender
/ / / /
Female FemaleMale Male
Occupation and position title (please specify if retired)* Occupation and position title (please specify if retired)*
For sole traders, ABN (if any)* For sole traders, ABN (if any)*
Residential/Business address* (PO Box is not acceptable) Residential/Business address* (PO Box is not acceptable)
State StatePostcode PostcodeCountry Country
Mailing address Mailing address
State StatePostcode PostcodeCountry Country
Other OtherMr MrMs MsMrs MrsMiss Miss
Bond Owner 1 (‘Applicant 1’)
Bond Owner 2 (‘Applicant 2’) (N/A for Child Advancement Policy)
Source of funds* (e.g sale of property, accumulated savings) Source of funds* (e.g sale of property, accumulated savings)
35Investment Growth Bond
Bond Owner 1 (‘Applicant 1’) Bond Owner 2 (‘Applicant 2’)
Investor – Company, Fund or Trust
1
Investor – Company, Fund or Trust
1
Company/Fund/Trust name* Company/Fund/Trust name*
Type of Investor* Type of Investor*
Company Fund Trust Company Fund Trust
Principal business/trust activity* Principal business/trust activity*
Country established, if not Australia*
Source of funds* (e.g sale of property, accumulated savings) Source of funds* (e.g sale of property, accumulated savings)
Country established, if not Australia*
Phone number Phone numberABN* ABN*
Are you a charity?* No
Yes Are you a charity?* No Yes
Business address* (PO Box is not acceptable) Business address* (PO Box is not acceptable)
Mailing address Mailing address
State StatePostcode PostcodeCountry Country
State StatePostcode PostcodeCountry Country
Given name(s)* Given name(s)*
Contact Person Contact Person
Home phone number Home phone number
Mobile Mobile
Email address Email address
Surname* Surname*
SECTION 1 - APPLICANT(S) DETAILS
1. For Company, Fund or Trust applications, please complete the appropriate Anti-Money Laundering and Counter Terrorism Financing form that can be downloaded from
commbank.com.au/igb or contact us on 1800 624 100 to request a copy.
003-886 011119 (BRC25)
Issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA).
‘CommInsure’ is used under licence by CMLA.
36 Investment Growth Bond
INVESTMENT GROWTH BOND APPLICATION FORM
SECTION 2 - LIFE/LIVES INSURED
The Investment Growth Bond is a life insurance policy. For Child Advancement Policies the child must be listed as the Life Insured
and only one Life Insured may be nominated.
Life Insured 1 Life Insured 2 (N/A for Child Advancement Policy)
Home phone number Home phone numberMobile Mobile
The Life/Lives insured cannot be altered once the policy has commenced.
The Death Benefit Guarantee is based on the death of the life/lives insured not the Bond owner(s).
Residential address* (PO Box is not acceptable) Residential address* (PO Box is not acceptable)
Mailing address Mailing address
State StatePostcode PostcodeCountry Country
State StatePostcode PostcodeCountry Country
Other OtherMr MrMs MsMrs MrsMiss Miss
Date of birth* Date of birth*
/ / / /
Gender Gender
Female Female
Male Male
Complete this section if you wish to set up a Child Advancement Policy and the child is under 16 years old.
Please note, only one child may be nominated as the Life Insured and only one Bond Owner can apply.
The Bond Owner should also provide details in Section 1.
I declare that the Policy issued on the basis of this Application on the life of
shall be a Child Advancement Policy in accordance with the provisions of the Life Insurance
Act 1995 and on the child’s (10
th
– 25
th
)
birthday shall become the absolute property of the child (please note where
no vesting age is nominated, the transfer will occur when the child turns 25).
Please note that this will be shown on the certificate exactly as it is written above. The certificate will be issued with the policy
Welcome Letter.
To
From
Is the Child Advancement Policy a gift, tick () if you would like a certificate to be issued?
Please provide the following information to be shown on the certificate (please print clearly):
/ /
Date of birth
SECTION 3 - CHILD ADVANCEMENT POLICY
Given name(s)* Given name(s)*
Surname* Surname*
Email address Email address
Yes
/ /
Date
Signature of Bond Owner
Issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA).
‘CommInsure’ is used under licence by CMLA.
003-886 011119 (BRC25))
37Investment Growth Bond
SECTION 5 - FATCA AND TAX RESIDENCY
This consent is not required for a Child Advancement Policy.
This section must be completed by the parent/guardian if the Bond Owner is age 10 or more, but less than age 16.
I,
as a parent/guardian of
hereby consent to this Application on the life of
SECTION 4 - PARENTAL/GUARDIAN CONSENT STATEMENT
Signature of parent(s)/guardian(s)
/ /
Date
Signature of parent/guardian 1
Signature of parent/guardian 2
Please answer both tax residency questions:
Please answer both tax residency questions:
If the individual is a tax resident of a country other than Australia, please provide their tax identification number (TIN) or equivalent below. If
they are a tax resident of more than one other country, please list all relevant countries below.
A TIN is the number assigned by each country for the purposes of administering tax laws. This is the equivalent of a Tax File Number in
Australia or a Social Security Number in the US. If a TIN is not provided, please list one of the three reasons specified (A, B or C) for not
providing a TIN.
If the individual is a tax resident of a country other than Australia, please provide their tax identification number (TIN) or equivalent below. If
they are a tax resident of more than one other country, please list all relevant countries below.
A TIN is the number assigned by each country for the purposes of administering tax laws. This is the equivalent of a Tax File Number in
Australia or a Social Security Number in the US. If a TIN is not provided, please list one of the three reasons specified (A, B or C) for not
providing a TIN.
Bond Owner 1
Bond Owner 2
Is the investor a resident of Australia?*
Is the investor a resident of Australia?*
Yes
Yes
No
No
Is the individual a tax resident of another country?*
Is the individual a tax resident of another country?*
Yes
This Section is mandatory to complete as part of your application, the questions marked with an (*) must be completed.
Tax Residency rules differ by country. Whether an individual is a tax resident of a particular country is often (but not always) based
on the amount of time a person spends in a country, the location of a person’s residence or place of work. For the US, tax residency
can also be as a result of citizenship or residency.
If no TIN list reason:
A. The country of tax residency
does not issue TINs to tax
residents
B. The individual has not been
issued with a TIN
C. The country of tax residency
does not require the TIN to
be disclosed
1. Countr y TIN
If no TIN,
list reason
A, B or C
2. Country TIN
If no TIN,
list reason
A, B or C
3. Country
TIN
If no TIN,
list reason
A, B or C
If there are more countries, provide details on a separate sheet and tick this box
If no TIN list reason:
A. The country of tax residency
does not issue TINs to tax
residents
B. The individual has not been
issued with a TIN
C. The country of tax residency
does not require the TIN to
be disclosed
1. Countr y TIN
If no TIN,
list reason
A, B or C
2. Country TIN
If no TIN,
list reason
A, B or C
3. Country
TIN
If no TIN,
list reason
A, B or C
If there are more countries, provide details on a separate sheet and tick this box
No
Complete below
Yes
No
Complete below
003-886 011119 (BRC25)
Issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA).
‘CommInsure’ is used under licence by CMLA.
38 Investment Growth Bond
INVESTMENT GROWTH BOND APPLICATION FORM
SECTION 6 - INVESTMENT OPTIONS (FUNDS)
Minimum is $200 per option. The minimum initial investment is $1,000. Cash deposits will not be accepted.
Investment option Amount %
NC – Cash (3NCS) $
NC – Global Fixed Interest (3NFI) $
NC – Conservative (3NCO) $
NC – Diversified (3NDI) $
NC – Managed (3NBA) $
NC – Growth (3NGR) $
NC – Global Property (3NPR) $
NC – Australian Shares (3NAU) $
NC – International Shares (3NIN) $
Total $ 100%
Cheque (Please attach with this form, made payable to ‘CMLA - Investment Growth Bond’)
Direct credit (Instructions below)
1.
Depos
it the investment using recipient reference ‘IGB <insert your account name>’ into the following bank account:
Account name: CMLA No 1 account, BSB: 0
62 000, Account number: 1085 2246
2.
Reque
st a receipt for the deposit.
3.
Mail th
e original Application documents with a copy of the deposit receipt.
Please note we do not direct debit funds from a client’s bank account.
Please indicate () how will you be paying
SECTION 7 - AUTOMATIC WITHDRAWAL FACILITY DETAILS
or
Complete this section if you will be investing at least $10,000 and you wish to arrange for regular payments from your investment.
%
of the value of units at each date (if less
than $500, no amount will be withdrawn)
$
Amount of each payment (minimum $500)
First withdrawal date
Last withdrawal date (if required)
Frequency
Monthly Quarterly YearlyHalf-yearly
Please complete the banking details to enable funds to be
deposited into an account.
Note: we will not pay automatic regular withdrawals by cheque.
Name of fi
nancial institution
BSB (Branch number) Account number
Account name (must be in the name of the Bond Owner(s))
$
Initial investment amount
Please tick () to confirm any additional amounts received should be invested as per current investment option
Adviser use only
1.
Attac
h a copy of the deposit receipt and fax all documents to CommInsure Administration on 1300 852 094. No cover
sheet is required OR
2.
Scan al
l documents and attach the file to an email addressed to NewBusinessIGB@cba.com.au. The subject line
should read ‘New application for <insert clients name>.
3.
Retai
n the original Application documents in your client file.
BPAY
®
(Important: Please refer to page 14 of the PDS before using BPAY
®
.
If this is your initial investment then we will contact
your financial adviser (or you, if you do not have a financial adviser) and provide our
BPAY
®
Biller Code and your unique
Customer Reference Number (CRN). The maximum
BPAY
®
amount is $100,000.
® Registered to BPAY
®
Pty Ltd ABN 69 079 137 518
Issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA).
‘CommInsure’ is used under licence by CMLA.
003-886 011119 (BRC25)
39Investment Growth Bond
SECTION 8 - ADVISER SERVICE FEE(S)
Complete this section if you consent for CMLA to pay your financial adviser(s) a one-off and/or an ongoing Adviser Service Fee.
One-off Adviser Service Fee
I/We consent for CMLA to deduct a one-off Adviser Service Fee of
$
(please specify the total dollar amount)
on
(insert date)*. Any payments to financial advisers are in accordance with the arrangements we have with
their dealer group. My financial adviser(s) and allocations are noted below.
Name of financial adviser Allocation of dollar or percentage amount**
1.
2.
*
If this date is prior to the commencement of the policy, we will deduct the one-off Adviser Service Fee one day after the
commencement date.
** Only required if the payment is to be split between two financial advisers.
The amount nominated above should be deducted fr
om my chosen investment options as follows:
Investment option One-off Adviser Service Fee
NC – Cash (3NCS) $
NC – Global Fixed Interest (3NFI) $
NC – Conservative (3NCO) $
NC – Diversified (3NDI) $
NC – Managed (3NBA) $
NC – Growth (3NGR) $
NC – Global Property (3NPR) $
NC – Australian Shares (3NAU) $
NC – International Shares (3NIN) $
Please note: where you do not indicate which investment option(s) the one-off Adviser Service Fee is to be paid from, the amount will
be deducted on a pro-rata basis.
Ongoing Adviser Service Fee
I/We consent for CMLA to deduct an ongoing Adviser Service Fee of
$
each month or
%
each year. Any payments to financial advisers are in accordance with the arrangements we have with their dealer group. My financial
adviser(s) and allocations are noted below.
Name of financial adviser Allocation of dollar or percentage amount**
1.
2.
**Only required if the payment is to be split between two financial advisers.
Allocation of ongoing Adviser Service Fee to be deducted from each Investment option
Please Note: if no nomination is made the ongoing Adviser Service Fee will be deducted on a pro-rata basis.
Investment option Fixed amount to be paid each month ($) or Allocation of percentage
NC – Cash (3NCS) $ %
NC – Global Fixed Interest (3NFI) $ %
NC – Conservative (3NCO) $ %
NC – Diversified (3NDI) $ %
NC – Managed (3NBA) $ %
NC – Growth (3NGR) $ %
NC – Global Property (3NPR) $ %
NC – Australian Shares (3NAU) $ %
NC – International Shares (3NIN) $ %
Total ongoing Adviser Service Fee $ 100%
003-886 011119 (BRC25)
Issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA).
‘CommInsure’ is used under licence by CMLA.
40 Investment Growth Bond
INVESTMENT GROWTH BOND APPLICATION FORM
Part 1 – Acceptable primary ID documents
Please Select
Part 2 – Acceptable secondary ID documents
Select ONE valid option from this section only
Australian State/Territory driver’s licence containing a photograph of the person
Australian passport (a passport that has expired within the preceding two years is acceptable)
A card issued under a State or Territory law containing your Photograph and proof of age
Foreign passport or similar travel document containing a Photograph and the signature of the person
Complete this section if you do not own a document from Part 1
Select one valid option from this section
Australian birth certificate
Australian citizenship certificate
Pension or Health care card issued by Department of Human Services (previously known as Centrelink)
And one valid option from this section
(this document must contain both your full name and residential address)
A document issued by the Commonwealth or a State or Territory within the preceding 12 months that
records the provision of financial benefits to you (e.g. pension statement)
A document issued by the Australian Taxation Office within the preceding 12 months that records a debt
payable by you to the Commonwealth or a refund by the Commonwealth to you (e.g. notice of assessment)
A document issued by a local government body or utilities provider within the preceding three months
which records the provision of services to you (e.g. electricity bill)
If you are under the age of 18, a notice that was issued to you by a school principal within the preceding
three months and records the period of time that you attended that school
List of persons who can certify documents:
A person who is enrolled on the roll of the Supreme Court of
a State or Territory, or the High Court of Australia, as a legal
practitioner
A judge of a court
A magistrate
A chief executive officer of a Commonwealth court
A registrar or deputy registrar of a court
A Justice of the Peace
A notary public (for the purposes of the Statutory Declaration
Regulations 1993)
A notary public in a foreign country
A police officer
(Postal Agent) An agent of the Australian Postal Corporation who
is in charge of an office supplying postal services to the public
(Post Office) A permanent employee of The Australian Postal
Corporation with two (2) or more years of continuous service who
is employed in an office supplying postal services to the public
An Australian consular officer or an Australian diplomatic officer
(within the meaning of the Consular Fees Act 1955)
An officer with two (2) or more years of service with one or more
financial institutions (for the purposes of the Statutory Declaration
Regulations 1993)
A finance company officer with two (2) or more continuous years
of service with one or more financial companies (for the purposes
of the Statutory Declarations Regulations 1993)
An officer with, or authorised representative of, a holder of an
Australian financial services licence, having two (2) or more
continuous years of service with one or more licensees
A member of the Institute of Chartered Accountants in Australia,
CPA Australia or the National Institute of Accountants with two (2)
or more years of continuous membership
Documents written in a language that is not English must be accompanied by an English translation prepared by an accredited translator.
Documents in a previous name must be accompanied by a change of name certificate (e.g. marriage certificate).
Bond owner 1
Part 3 – Acceptable foreign ID documents
Complete this section if you do not own a document from Part 1
Select either
National ID card issued by a foreign government containing a photograph and signature of the
person in whose name the document is issued
Or select two valid options from this section
Foreign driver’s licence that contains your photograph and date of birth
Foreign citizenship certificate
Foreign government issued birth certificate
Bond owner 2
(Joint Owner)
SECTION 9 - IDENTIFICATION AND VERIFICATION FOR INDIVIDUALS AND SOLE TRADERS ONLY
You are required to complete this section and attach your certified ID documents and, if applicable, certified ID documents of your
Power of Attorney. The certifier must confirm that the photocopy is a true and correct copy of the original ID, followed by their
signature, name, qualification and date.
If your financial adviser (if applicable) meets the criteria below to certify your ID documents, your financial adviser must complete
section 10 of this Application Form.
Complete Part 1 (or if the individual does not own a document from Part 1, then complete either Part 2 or Part 3).
Issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA).
‘CommInsure’ is used under licence by CMLA.
003-886 011119 (BRC25)
41Investment Growth Bond
SECTION 10 - FINANCIAL ADVISER USE ONLY
Verify the individual’s full name and date of birth OR residential address.
Receipt of a completed form will constitute your agreement as a reporting entity that you have completed the identification and
verification of the investor for the purposes of Anti-Money Laundering and Counter-Terrorism Financing laws.
Bond Owner 1
ID document details Document 1 Document 2
Document type (eg Passport)
Verified from
Original Certified copy Original Certified copy
Document issuer
Issue date
Expiry date
Document number
Accredited English translation
N/A Sighted N/A Sighted
Bond Owner 2
ID document details Document 1 Document 2
Document type (eg Passport)
Verified from
Original Certified copy Original Certified copy
Document issuer
Issue date
Expiry date
Document number
Accredited English translation
N/A Sighted N/A Sighted
Lodging an Application for a CommInsure Investment Growth Bond via eProcess (fax or email) (adviser use only)
Please read the terms and conditions below carefully before following the eProcess instructions outlined.
eProcess instructions (adviser use only):
1.
Complete all relevant sections of the Application form in the PDS, dated 1 November 2019.
2.
Gather all required documentation, including the completed Application Form, identification and verification schedule, and any
other documentation requested. Refer to the checklist on page 34 of the PDS.
3. Fax all documents to CommInsure Administration on 1300 852 094. No cover sheet is required OR
4. Scan all documents and attach the file to an email addressed to NewBusinessIGB@cba.com.au. The subject line should read
“New application for <insert clients name>.”
5.
Retain the original Application documents in your client file.
Depositing the initial investment via direct credit
When investing the initial investment can be directly deposited into CommInsure Investment Growth Bond bank account instead of
posting a cheque.
Instructions:
1.
Deposit the investment using recipient reference ‘IGB <insert your account name>’into the following bank account:
Account name: CMLA No 1 account, BSB: 062 000, Account number: 1085 2246
2.
Request a receipt for the deposit.
3.
Attach a copy of the deposit receipt to the Application.
*Please note we do not direct debit funds from a client’s bank account.
eProcess terms and conditions (adviser use only):
By using the eProcess, I (the Advisers named in Section 10 of this Application) agree to the following additional terms and conditions:
1. Originals of all documents sent via the eProcess must be retained by me and be made available to CMLA upon request.
2.
Documents sent to the nominated fax number are said to be received by CMLA on the date that they have a record of having
received the documents. However, if the fax is received after 5 pm on a Sydney business day, the fax will not be regarded as
being received until the next Sydney business day. I also understand that where CMLA has no record of receiving a document,
this may mean that I will have to recommence the application process and a new quote may be required.
3.
Documents sent to the nominated email address are said to be received by CMLA on the date we have a record of sending an
acknowledgement back to you that the application has been received. If your original email is received after 5 pm on a Sydney
business day, then we will not view the email until the next Sydney business day.
The following requirements apply to deposits into the CommInsur
e Investment Growth Bond bank account
4.
If you have banked the full amount in relation to any application into the bank account nominated by CommInsure, you must
attach a copy of the deposit receipt.
5. You must bank the full amount in relation to any application into the nominated bank account. Partial payments will mean that
the application process will not be able to commence until we have reconciled such payments.
6. If a payment is made into any bank account other than the one nominated by CommInsure above, CommInsure will not be
accountable for any financial losses incurred.
003-886 011119 (BRC25)
Issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA).
‘CommInsure’ is used under licence by CMLA.
42 Investment Growth Bond
INVESTMENT GROWTH BOND APPLICATION FORM
SECTION 10 - FINANCIAL ADVISER USE ONLY
Customer Contact
No Yes
If required, do you give us permission to contact the Bond Owner(s) direct to clarify any necessary matter?
I certify that I have provided the Bond Owner(s) with the Investment Growth Bond PDS with a date of 1 November 2019.
I certify that the adviser sections of the relevant Identification and Verification form for all Bond Owner(s) have been completed.
Where any Adviser Service Fee(s) have been noted in Section 8, I certify that I am able to set up this Adviser Service Fee
arrangement with the Bond Owner(s) and that they have agreed to this arrangement and that I have read and understood page 27
of the PDS (Adviser Service Fees).
Financial adviser declaration
Signature of financial adviser 1
Date
/ /
Signature of financial adviser 2
Date
Date Verified
/ /
Identification and verification conducted by
Name of financial adviser 1
Name of financial adviser 2
Financial advisers number
Financial advisers number
AFS Licensee name
AFS Licensee name
Phone number
Phone number
AFS Licence number
AFS Licence number
Before you enter into or become insured under a contract of life insurance with an insurer, you have a duty under the Insurance
Contracts Act 1984, to disclose to the insurer every matter that you know, or could reasonably be expected to know, that is relevant to
the insurer’s decision whether to accept the risk of insurance, and if so, on what terms.
You have the same duty to disclose those matters to the insurer before you renew, extend, vary or reinstate a contract of life insurance.
Your duty, however, does not require disclosure of a matter:
that diminishes the risk to be undertaken by the insurer
that is common knowledge
that your insurer knows or, in the ordinary course of its business, ought to know, or
as to which compliance with your duty is waived by the insurer.
Non disclosure
If you fail to comply with your Duty of Disclosure and the insurer would not have covered you on any terms if the failure had not
occurred, the insurer may void your cover within three years of issuing it. If your non-disclosure is fraudulent, the insurer may void your
cover at any time.
As insurer who has not voided your cover within three years of issuing it may elect to reduce the sum that you have been insured for in
accordance with a formula that takes into account the premium that would have been payable if you had disclosed all relevant matters
to the insurer.
SECTION 11 - DUTY OF DISCLOSURE
Issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA).
‘CommInsure’ is used under licence by CMLA.
003-886 011119 (BRC25)
43Investment Growth Bond
Mail this application to:
Investment Growth Bond – New Business
PO Box 320, Silverwater NSW 2128
I/We wish to apply to The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA) for the life insurance
policy detailed in this Application.
I/We have read and understood:
The Investment Growth Bond PDS. My/Our decision to apply for this policy is based on the material received and my/our understanding of
the information included in the PDS
My/Our ‘Duty of Disclosure’ in Section 11 of this Application. I am/we are aware of the consequences of non-disclosure. I/We understand that
my/our duty to disclose continues after I/we have completed this Application until CMLA has accepted the Application for insurance in writing.
I/We declare that:
The answers to all questions, declarations and all information supplied by me or on my behalf in relation to this application is true and
correct (including those not in my/our own handwriting)
All information supplied by me or on my behalf in relation to this application is true and correct
I will promptly advise CMLA if it changes
Where the applicant is an individual, I certify that I am the named person or am authorised to provide this information on their behalf
Where the applicant is an entity, I am authorised by, and have the consent of, the entity & any Beneficial Owners* to provide the information
The entity and any Beneficial Owners are aware that information about them and the account may be provided to the tax authorities
All the information/documentation required under the Anti-Money Laundering and Counter-Terrorism Financing laws has been completed
The answers given, together with any special conditions, will form the basis of the contract
No information has been withheld which may affect CMLAs decision to provide insurance.
I/We understand that:
The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (‘CMLA’) is a wholly owned subsidiary of the
Commonwealth Bank of Australia ABN 48 123 123 124.
Neither the AIA Group nor the Commonwealth Bank of Australia Group (excluding CMLA) nor their subsidiaries, guarantee the performance
of the Investment Growth Bond or the repayment of capital or interest by CMLA. Investments in the Investment Growth Bond are not
deposits or other liabilities of the AIA Group nor the Commonwealth Bank of Australia Group (excluding CMLA) nor their subsidiaries.
Investment products are subject to investment risk which may result in loss of income and principal invested. CMLA as product issuer does
not guarantee the performance of the Investment Growth Bond except as expressly stated in the PDS.
I have read and understood the section ‘Privacy of your personal information’ on page 31 of the PDS. I acknowledge and consent to
the use and disclosure of my personal information as detailed in that section.
I declare that if this Application is signed under a Power of Attorney, the Attorney declares that they have not received revocation of
that power (Note: a certified copy of the Power of Attorney should be submitted with the Application. This must be accompanied
by information/documentation required under Anti-Money Laundering and Counter-Terrorism Financing laws for both the Power of
Attorney and the Bond Owner(s)).
The policy will not commence until CMLA accepts this application in writing, receives the first contribution and issues a Policy Document.
I/We have read page 27 of the PDS concerning the Adviser Service Fee and consent for CMLA to deduct the Adviser Service Fee as
indicated in this Application Form.
By ticking () the box beside my signature below I indicate that I do not want to receive marketing information from CMLA.
SECTION 12 - DECLARATION
Position in company (if Bond Owner 1 is a company) Position in company (if Bond Owner 2 is a company)
If the Applicant is a company then this must be signed by an authorised officer (e.g. Director, Company Secretary).
* The definition of Beneficial Owner can vary depending on the nature of the entity structure. Please refer to the appropriate Anti-Money Laundering and Counter-
Terrorism Financing forms, for specific definitions. These forms can be downloaded from commbank.com.au/igb or contact 1800 624 100 to request a copy.
Signature of Bond Owner 1
Date
/ / / /
Signature of Bond Owner 2
Date
Signature of Life Insured 1
Date
Signature of Life Insured 2
Date
/ / / /
003-886 011119 (BRC25)
Issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA).
‘CommInsure’ is used under licence by CMLA.
44 Investment Growth Bond
NOMINATION OF BENEFICIARY INVESTMENT GROWTH BOND
INVESTMENT GROWTH BOND
NOMINATION OF BENEFICIARY.
Please note: if the policy is established as a Child Advancement Policy, you cannot nominate a beneficiary.
Please provide us with your policy number (if known)
SECTION 1
SECTION 2
Bond Owner 1
What is your address?
State Postcode
SurnameTitle
Entity/company/trust name
Entity/company/trust name
Charity, corporation or trust name
Given name(s)
Date of birth
/ /
Date of birth
/ /
Bond Owner 2
What is your address?
State Postcode
SECTION 3
I wish to (please indicate ())
Cancel all current beneficiary nominations for this policy
Nominate the following beneficiaries, in addition to any existing beneficiaries
Replace any existing beneficiaries with the following new beneficiaries
SurnameTitle Given name(s)
Nominated beneficiary 1
004-237 310715 (BRC25)
What is your beneficiary’s address?
State Postcode
Date of birth
/ /
Split %
%
Relationship
SurnameTitle Given name(s)
Issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA).
‘CommInsure’ is used under licence by CMLA.
003-886 011119 (BRC25)
45Investment Growth Bond
SECTION 3 (CONTINUED)
SECTION 4
Beneficiary Nomination Rules
Under Section 48A of the Insurance Contracts Act 1984 your
valid nomination will ensure that death benefit proceeds payable
under the policy will be paid in the designated portions directly to
the nominated beneficiary/ies, which may include a Life Insured
or his/her estate.
Y
our nomination is subject to the following rules:
A nominated beneficiary can be a natural person, charity,
corporation or trust.
Conditional nominations cannot be made.
You may change a nominated beneficiary or revoke a previous
nomination at any time prior to a claim event occurring.
If a nominated beneficiary dies before a claim is made under
the policy and no change in nomination has been made, then
any money payable will be paid to the nominated beneficiary’s
legal personal representative.
If ownership of the policy is assigned to another person
or entity, then any previous nomination is automatically
superseded (i.e. the nomination is revoked).
A nominated beneficiary has no rights under the policy, other
than to receive the nominated policy proceeds after a claim has
been admitted by CMLA. He or she cannot authorise or initiate
any policy transaction.
Date
/ /
SECTION 5
Declaration
I/We have read and understand and accept the beneficiary nomination rules on this form and in the PDS.
I/We understand that this nomination;
will apply to my Policy with CMLA until cancelled by me/us
where indicated replaces any previous nomination made to CMLA
may be cancelled at any time by writing to CMLA.
Signature of Bond Owner 1
Date
/ /
Signature of Bond Owner 2
Please mail this application to
Investment Growth Bond - Alterations PO Box 320, Silverwater NSW 2128
Nominated beneficiary 2
What is your beneficiary’s address?
State Postcode
Date of birth
/ /
Split %
%
SurnameTitle Given name(s)
Relationship
Charity, corporation or trust name
Nominated beneficiary 3
SurnameTitle Given name(s)
What is your beneficiary’s address?
State Postcode
Date of birth
/ /
Split %
%
Relationship
Charity, corporation or trust name
Nominated beneficiary 4
SurnameTitle Given name(s)
What is your beneficiary’s address?
State Postcode
Date of birth
/ /
Split %
%
Relationship
Charity, corporation or trust name
003-886 011119 (BRC25)
Issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA).
‘CommInsure’ is used under licence by CMLA.
46 Investment Growth Bond
BPAY® 1800 624 100
Adviser
8.30 am to 6 pm (Sydney time)
Monday to Friday
comminsureadviser.com.au/igb
1800 624 100
Customer
8.30 am to 6 pm (Sydney time)
Monday to Friday
commbank.com.au/igb
CIL392 011119 (B RC25)
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