Who insures TPD at Colonial First State?

Colonial First State super products commonly use AIA Australia Limited as the group insurer, although some legacy products and corporate plans have used other insurers including TAL and Zurich. The trustee of the relevant CFS super product makes the final decision under the SIS Act.

Did Colonial First State leave Commonwealth Bank?

Yes. CFS was sold by Commonwealth Bank to a consortium led by KKR in 2021. The trustee structure was reorganised, but most member cover and product features carried across. The policy in force at the date you stopped work governs your claim, regardless of these ownership changes.

Are CFS FirstChoice members covered the same way?

FirstChoice is the largest CFS super product family, with broad insurance coverage options. Default cover, voluntary top-up cover, and corporate plan cover within FirstChoice each have their own specific terms — check the Insurance Booklet for your specific FirstChoice variant.

What if I had CommBank Essential Super?

CommBank Essential Super was a CBA-distributed product administered through Colonial First State. Members typically had basic default cover; some held additional voluntary cover applied for online. The product was simplified vs FirstChoice with more limited insurance options. The applicable PDS at the date of disablement governs.

Colonial First State (CFS) TPD Claim: Eligibility, Payouts, and the Claim Process

Default cover and insurer

CFS operates several super products, including the FirstChoice family (FirstChoice Wholesale Personal Super, FirstChoice Personal Super, FirstChoice Employer Super) and various legacy products. Cover varies materially between products. Most CFS retail super products are insured by AIA Australia Limited, although some corporate plans use other insurers.

Cover varies enormously between members because of the retail product design. Members who applied for voluntary cover may hold $1m+; default-only members may hold modest amounts.

CFS history — Commonwealth Bank → KKR

CFS has a long history as Commonwealth Bank's super and investments arm. Key transitions:

Pre-2021 — wholly owned by Commonwealth Bank of Australia
2021 — sold to a consortium led by KKR (a private equity firm), restructured as a standalone business
Post-2021 — separate trustee (Avanteos Investments Limited and Colonial First State Investments Limited) and standalone product structure

For TPD claim purposes, the policy in force at the date you stopped work is what governs — irrespective of subsequent ownership changes.

The TPD definition that applies to you

Standard CFS retail super TPD typically uses an "Any Occupation" definition, with some voluntary cover options offering "Own Occupation" for professional occupations. Read your specific product's Insurance Booklet — wording varies between FirstChoice variants and legacy products.

How to claim

Notify the relevant CFS trustee of intent to claim
Receive and complete the claim pack — member statement, employer statement, treating-doctor reports, authorities
AIA Australia Limited (or the relevant insurer) assesses against the policy definition
The trustee independently reviews and decides
Approved claims pay out subject to condition of release

If your claim is declined

Common reasons CFS TPD claims are declined:

Pre-existing condition exclusions or non-disclosure findings on voluntary cover
Insurer's view that you can perform alternative work under "Any Occupation"
Cover not in force on the date you stopped work (rollover or platform-migration issues)
Disputed application of underwriting loadings or exclusions

Internal dispute resolution gives the trustee 45 days to respond, then escalate to AFCA. See our guide to rejected TPD claims.

Colonial First State-specific tips

Identify the exact CFS product. FirstChoice variants, legacy products, and Commonwealth Essential Super have different terms. Check your annual statement.
Retrieve underwriting paperwork. If you applied for voluntary cover, the original application, offer letter, and policy schedule are critical.
Corporate FirstChoice Employer Super members — confirm whether your employer plan has superior default cover and any salary continuance.
Multi-fund check. CFS members commonly hold cover at other funds from prior employment. Check MyGov before lodging.

Free CFS TPD claim assessment A specialist will identify your specific CFS product, applicable policy, and eligibility free →

Colonial First State TPD Claim: Eligibility, Payouts, and the Claim Process