What does life insurance cover me for?
Here are some of the events you can choose to be covered for under your TAL insurance policy.
- If you die or are diagnosed with a terminal illness: your family receives a lump-sum payment. This is called Life Insurance.
- If you’re diagnosed with a serious critical illness such as a malignant cancer or you suffer a severe heart attack: you receive a lump-sum payment. This is called Recovery Insurance.
- If you’re permanently disabled and unable to work: you receive a lump-sum payment. This is called Total Permanent Disability (TPD).
- If you’re temporarily unable to work due to illness or injury: you receive a monthly benefit of up to $10,000, up to 75% of your salary. This is called Income Protection.
This is a general guide only to the different types of life insurance and the circumstances in which a claim may be payable. You can find out exactly what you’re eligible for by reading the terms and conditions of your insurance policy, which are detailed in your policy document.
What are Illness, Accident, Adventure Sports Cover?
What are Illness, Accident, Adventure Sports Cover?
You can tailor your insurance to suit your individual needs, for example with Life Insurance you can choose to get:
- Accident cover – Your loved ones receive a lump-sum payment to protect their future, if you die as the result of an accident. For example, a car accident.
- Illness cover – Your loved ones receive a lump-sum payment so they can keep living their lives to the fullest, if you pass away because of an illness such as cancer or heart disease.
- Adventure Sports cover – If you take up Accident Cover, you can extend it with Adventure Sports Cover. This means that your loved ones receive a lump-sum payment if you die from activities such as hang-gliding or scuba diving.
What additional features of TAL Lifetime Protection can I set up over the phone?
You will need to speak to one of our professional Life Insurance Specialists on 131 TAL about including any of the following:
- Bundling – Bundled policies are when the lump sum covers (Life, TPD or Recovery Insurance) are linked together. A claim payment under one of the Bundled covers will reduce the total benefits available under the Bundled covers by the claim amount paid. Find out more
- Cover Pause - In case of financial hardship, you can pause your cover for up to three months. You won’t pay premiums but you also won’t be covered during that time. It’s easy to switch on your cover again. Find out more
- Premium Relief (For Life Insurance, TPD, Recovery Insurance) – If you add this option, you won’t need to pay your Lifetime Protection premiums if you are unable to work for at least three consecutive months due to illness or accident. Find out more
- Increasing Claims Option (For Income Protection only) – If you are receiving benefit payments, we will increase the payment in line with inflation, while you are receiving them. Find out more
- Day One Accident (For Income Protection only) – Instead of having to wait out your chosen waiting period, your payments will start accruing from the first day you’re off work due to a total disability from an injury. Find out more
I have life insurance as part of my super, is that enough?
Most Australians have some form of life insurance through their super. The default level of cover is not based on your unique current and future financial obligations, so you may want to check to see if it’s enough. It may not be possible to take up some types of cover through your super fund. You may also want to consider whether you’re able to take your insurance with you if you leave your employer.
Can I increase my insurance cover?
You may be able to increase your insurance cover. You can contact us to discuss your options with our Life Insurance Specialists. Or, depending on how you bought your cover, you can contact your financial adviser, super fund or employer to find out if you can increase your cover, and the steps to take.
I’ve changed my address or contact details – how do I let you know?
We need to send you important information from time to time so it’s important we have your up-to-date contact details. Please contact us to let us know about any change to your address, telephone number or email.
Do I pay tax on the payments I receive from insurance?
Any payments you receive from your policy are usually assessable for income tax purposes. We recommend that you seek independent tax advice from an accountant or the Australian Tax
What is indexation?
Indexation is a way to help future-proof your insurance payment against the effect of inflation. Every year, as the cost of goods and services increases, your amount of cover will increase by the Consumer Price Index (CPI), capped at 3% for Income Protection and 5% for all others. This will help to ensure that your insurance cover has not been eroded by the effects of inflation. Your premiums will also rise in accordance with any increase in cover.
What are bundled policies?
Bundled policies are when the lump sum covers (Life, TPD or Recovery Insurance) are linked together. A payment under one of the cover will reduce the benefit of the linked covers by the amount paid.
What is a standalone policy?
A standalone policy is not linked to any other covers. Payment of a benefit under a standalone policy will not reduce the benefit of the other covers.
What is the Life Buy Back Option?
The Life Buy Back Option allows you to buy back the Life Insurance benefit that was reduced when a benefit is paid from a bundled TPD or Recovery Insurance. The buyback can only occur 12 months after the claim is submitted or paid.
Who is TAL?
TAL is Australia’s life insurance specialist and for almost 150 years we’ve been protecting people, not things. Today, we insure more than 3 million Australians. And in 2015, we reached a new milestone paying over $1 billion in claims. Find out more about who we are and our life story.
Who is Dai-ichi Life?
Dai-ichi Life is the third largest life insurer in Japan and the owner of TAL.
How can Workers’ Compensation payments affect my insurance payouts?
If you’re receiving Income Protection payments, the amount you receive may be reduced if you’re also receiving Workers’ Compensation payments.
Can I cancel my policy if I no longer need it?
Yes, you can cancel your policy. To cancel your policy, you can speak to your financial adviser or contact us. We understand your circumstances may change, and we welcome a conversation about your needs.
What is My TAL?
My TAL is an online portal, which allows you to manage your cover anywhere, any time. Through My TAL, you can do the following:
- Pay your premiums
- Request a certificate of currency
- Request a statement
- Update your contact details, and
- View all of your policy details.
Am I eligible for My TAL?
All customers with a TAL Accelerated Protection are eligible to register for an account.
If you have any of the following policy types, you cannot register for a My TAL account. These will be included in future releases of the portal.
- SMSF Owned
- TAL Superannuation Owned
- Platform Owned
- Joint Owned
- Company Owned
- Investment Policies
How do I register for My TAL?
To register for My TAL:
- Go to our registration page and enter your email address
- Click on ‘send confirmation email’
- Go to your email and click on the link within the confirmation email
- Complete the registration details
How do I login if I have already registered?
To login to My TAL if you’ve already registered:
- Click on the ‘login’ tab
- Enter your email address and select to receive a one-time password via SMS or email
- If you selected email, you will soon receive an email containing a link which will give you access
- If you selected SMS, your mobile phone will soon receive a six-digit code which will give you access
What can I do if I’m having difficulties with My TAL?
If you’re having any trouble with My TAL, just call us on 1300 209 088 (Mon-Fri, 8am-7pm AEST) and we’ll help you over the phone.
What happens after I submit my claim forms?
Once we’ve received your claim forms, a Claims Manager will contact you to discuss your claim and answer any questions you have. We feel it’s important that you always speak to the same person, so we assign you a dedicated Claims Manager to help you throughout the process.
How will I or my family receive payments?
If you have provided your Australian bank account details to us, we'll make the payment into this account. Otherwise we will send you a cheque.
In some instances, for example where your cover is purchased through you super fund, we may make the payment to the fund.
What is a qualifying period for Total Permanent Disability (TPD)?
What is the Waiting Period for Income Protection?
We make your first payment one month after the waiting period ends. For example, let’s say you chose a 4 week waiting period. If you were injured and stopped work on 1st April, your waiting period would start on 1st April and end 28 days later on 28th April.
You would then qualify for your payments from the 29th April. And your first payment would be paid one month later, on the 28th May.
My Income Protection claim has been approved. When will I start receiving payments?
Can I earn other income while I’m receiving Income Protection payments?
If you qualify to receive Total Disability payments and you return to work on a partial basis earning less than you were before your claim, you may be eligible for a Partial Disability Benefit. This allows you to receive some Income Protection payments on top of the partial income you’re able to earn.
We use a formula which is set out in your policy to calculate your Partial Disability Benefit. Your Claims Manager will use your payslip (or other proof of income) to understand what your regular income is. They will also show you how your benefits reduce as you receive income from sources such as Workers’ Compensation, Centrelink, other insurance policies and, in some cases, sick leave.
You must let your Claims Manager know if you return to work, or are receiving income from other sources, so we can make sure you receive the correct payments.
What can I do if I don’t agree with TAL’s decision about my claim?
We have processes in place to ensure that all our claims decisions are fair and consistent.
If you don’t agree with our decision, you can write to our Complaints Resolution Department and ask that your case be independently reviewed under our internal dispute resolution process. The contact details are:
TAL Life Limited
GPO Box 5380
Sydney NSW 2001
If you’re still dissatisfied with the outcome of this process, you can then choose to escalate your complaint to the Superannuation Complaints Tribunal or Financial Ombudsman Service (FOS) These services are available to you free of charge, but you must first give us an opportunity to resolve your disagreement through our internal dispute resolution process.
Can I request that the decision is reviewed?
Yes, we can assess your application again at a later date.
Can I get a copy of the documents in my TAL claim file?
If you’ve made a claim, you can generally access all the information we hold about you. There are some limited exceptions under privacy legislation. For example in some circumstances we need to provide the information to your doctor instead of providing it directly to you. We will let you know if this is the case.
How can I request information from my TAL claim file?
We take the protection of your personal and sensitive information very seriously. So, we ask that you make your request in writing to help us to identify you. All requests for information from your claim file should be addressed to:
The Privacy Officer
TAL Life Limited
GPO Box 5380
Sydney NSW 2001
Let us know which information you’re looking for, the name of the person it should be sent to, as well as their full contact details. It’s also useful if you can provide your policy number(s) with your request. We will aim to provide the information that you have requested within 30 days.
Can I provide feedback to you about my claims experience?
Yes, we appreciate any feedback about the way we do things. If you’ve had a positive experience with our claims team or have some ideas on how we can improve our claims processes or service, you can email us or send your suggestions to:
TAL Life Limited
GPO Box 5380
Sydney NSW 2001
How does tax work when it comes to on payments if my life insurance is held within my super?
If your insurance is held outside of your super, no tax will be paid.
However, if your insurance is held inside super, tax is paid if the recipient is not a financial dependent. Otherwise, no tax will be paid.
If my partner is the beneficiary of my life insurance and we both pass away, what happens to my benefit amount?
If you have no living beneficiary attached to your policy, your life insurance payment will be paid to your estate.
Do I need to update the insurer if my health or occupation changes?
You do not need to update the insurer of any changes to your health or occupation once you have been accepted for the insurance. We will assess your situation at the point of application and your insurance will be based on your circumstances at that time. Your insurance cannot be cancelled by the insurer if your situation changes.
However, if you change your occupation, you could be entitled to a lower premium. In this case, you can request an alteration of policy based on the change in circumstances.
For example: John was a carpenter when he first took out insurance, however after a number of years he has transitioned to an office-based role within the construction industry.
John is now eligible to alter his policy, which could decrease his premium as he has moved from a manual role to an office-based role.
If I make a claim do my premiums increase?
If you’ve made a claim, your premiums will not increase outside of the normal age, general rate rises and increases due to indexation.
However, based on your claim and what insurance you have, you may not be able to claim for that specific illness or injury again.
Do I need to continue to pay my premiums if I was to go on claim?
If you’re receiving payments for Income Protection, you will no longer pay these premiums. However, if you have other insurance policies (Life, Total Permanent Disability, Recovery Insurance), you will still pay these premiums.
What happens to my insurance benefit through super if I do not make a binding nomination?
If you do not make a binding beneficiary nomination , the super trustee will decide who gets your benefits when you die. Usually benefits are paid to dependents, after taking your wishes into consideration.
See 'What is the difference between a non-binding and a binding nomination?'
What is the difference between a non-binding nomination and a binding nomination?
If you’re holding your insurance within your super, you’ll be asked to nominate a beneficiary – the details of the person (or people) who will receive the life insurance money if you pass away. You have the choice to make a binding or a non-binding nomination.
Binding nomination – This is a legally binding statement which the trustee will use to know who your money should go to if you pass away.
Non-binding nomination – This is not legally binding. The trustee will take your non-binding into consideration when making the life insurance payment on your behalf, in addition to other aspects of the law.
Can I hold Recovery Insurance through my super?
It is not possible to hold Recovery Insurance through your super. This is something which the government has enforced, so it applies to all insurance providers.
Is the condition I claimed for excluded from the policy?
If the condition you claim for is excluded from the policy, then we will not be able to fulfil your claim. This is why it helps to completely understand what conditions you’re claimed for under your policy when you’re setting it up.
What happens to my policy if I was to move overseas?
TAL provides you with worldwide cover. If you’re travelling abroad, or you move abroad, you will continue to be covered by the terms you set up when you bought the policy.
It is worth noting that if you move to a dangerous country, you won’t be covered.
Investments and Super
How do I consolidate my super?
Consolidating your super with us is easy. Simply return a completed Transfer Authority Form to us and we’ll contact your other funds to arrange the transfer. We do recommend that you speak with a financial adviser first, as they can explain the differences in fees and benefits between your funds, before you complete the transfer.
How can I make extra contributions to my super or investment policy?
Depending on the product you have with us, you can make extra super contributions by cheque, direct debit and BPAY® (Registered to BPAY Pty Ltd ABN 69 079 137 518).
You can simply phone us on 1300 209 088 to confirm if your policy accepts extra contributions and the payment options available.
How can I claim or rollover my TAL investment or super benefits?
Where can I find some more information on super and investments?
The following are some useful links:
- Find My Super
- Australian Taxation Office (ATO)
- The Association of Superannuation Funds of Australia Ltd (ASFA)
- Centrelink – Department of Human Services
- Financial Services Council (FSC)
These links have been made available for your convenience only, and do not constitute a recommendation or endorsement by TAL about any products, services or information accessible through the links. Use of links is at your own risk.
What happens if I call to make a complaint?
One of our Customer Care Specialists will aim to resolve your issue with you when you call. If you’re not happy with the response or require further information, you can request to speak to a manager.
What happens if I write to you to make a complaint?
We’ll try and get back to you within 48 hours to acknowledge your complaint. But if your matter is urgent please let us know.
We may need to look into your complaint further. In this case, we aim to get back to you within five business days with a resolution, or our plan to fix the problem. You’ll receive the contact details of our Customer Care Specialist who is taking care of your complaint, in case you have any questions.
What if I’m not satisfied with the resolution?
We understand that occasionally we may not be able to resolve your complaint to your satisfaction.
If you’re not happy with how we’re dealing with your complaint after 45 days (90 days if your complaint is related to super), you may wish to ask a Government department to look into it. The department to contact depends on whether you have a complaint related to insurance products or service , privacy or super funds.
What if I have an unresolved complaint related to insurance products or service?
What if I have an unresolved complaint related to privacy?
You can contact:
GPO Box 5218
Sydney NSW 2001
Phone: 1300 363 992
What if I have an unresolved complaint about super funds?
You can contact:
Locked Bag 3060, GPO
Melbourne VIC 3001
Phone: 1300 78 08 08
Fax: 03 8635 5588
How can I get assistance to make a complaint?
If you have trouble with hearing or speech, you may like to use the National Relay Service .
The Translating and Interpreting Service (TIS National) provides interpreting services to people who don’t speak English and to agencies and businesses that need to communicate with their non-English speaking clients. TIS National can be contacted on 131 450. There is no fee for this service.
Can someone make a complaint on my behalf?
Yes. However, you will need to tell us, either by calling or writing to us, that you have authorised another person to complain on your behalf.
How can I opt out of telemarketing calls?
If you’re concerned about TAL marketing, then contact us on 1300 209 088 or via our online form.