Life Insurance

Providing for your loved ones when you are gone.

Key features

  • You can apply if you're between 18-74 years old
  • Lump Sum Payment if you die or are diagnosed with a terminal illness
  • Cover available up to $1.5 million
  • No medical tests required on application
  • Available to purchase via self-managed super funds

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What is Life Insurance?

Life Insurance provides for your loved ones in the event of your death, or if you are diagnosed with a terminal illness.

Life Insurance provides your loved ones with a lump sum payment that can help ensure their financial security.  

It can allow your family to keep their home, provide for your children's education, and allow your partner to continue living the life you had planned together.

Life Insurance

What am I covered for under Life Insurance?

You can tailor your cover to suit your individual needs. Your choice of cover will impact the types of events you can claim against.

You can choose all three types of cover, or two or just one. It's up to you.

Accident Cover

Your loved ones receive a lump sum payment if you die as a result of an Accident (subject to any Special Conditions specified in your Policy Schedule).

What you're covered for:

  • Your death as a result of an Accident
  • Examples of accidents:

  • Transport Accidents
  • Household Accidents
  • Accidental Drowning
  •  

Illness Cover

Your loved ones receive a lump sum payment if your death is a result of an illness (subject to any Special Conditions specified in your Policy Schedule).

What you're covered for:

  • Your death as a result of an Illness
  • If you are diagnosed with a Terminal Illness with a life expectancy of less than 12 months
  • Examples of illnesses:

  • Cancer
  • Circulatory Disease
  • Heart Disease
  • Neurological Disease
  • Organ Failure
  •  

Adventure Sports Cover

If you take up Accident Cover, you can extend it with Adventure Sports Cover. This means you’ll receive a payment if you die as a result of an adventure sport (subject to any Special Conditions in your Policy Schedule).

What you're covered for:

  • Your death as a result of participating in an adventure sport
  • Examples of Adventure Sports:

  • Scuba diving
  • Water Sports
  • Recreational aviation
  • Motor sports
  •  

Life Insurance

Death Benefit
If you die, your loved ones will receive a lump sum payment to look after their future. Find out more

Inflation Protection
Inflation Protection automatically increases your cover amount by 5% every year, or by the Consumer Price Index – whichever is greater. Your premiums will also increase accordingly. Find out more

Future Life Events
If a specific life event happens, for example getting married or having a child, you can easily update your Life Insurance cover. Find out more

Stepped vs. Level Premiums
You can choose to pay either Stepped or Level Premiums. Stepped Premiums increase every year, but generally start off cheaper. Level Premiums stay the same and generally cost less in the long run. However, Level Premiums can increase by general premium rate rises and through Inflation Protection. Find out more

Terminal Illness Benefit
If you've chosen to be covered for illnesses, you'll also receive a lump sum payment if you're diagnosed with a terminal illness. Find out more

Funeral Advancement
To help with funeral expenses, your loved ones will receive an early payment of up to $25,000 if you die. 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. It’s easy to switch on your cover again. (This can only be set up over the phone). Find out more

 

What's Included

Death Benefit
If you die, your loved ones will receive a lump sum payment to look after their future. Find out more

Inflation Protection
Inflation Protection automatically increases your cover amount by 5% every year, or by the Consumer Price Index – whichever is greater. Your premiums will also increase accordingly. Find out more

Future Life Events
If a specific life event happens, for example getting married or having a child, you can easily update your Life Insurance cover. Find out more

Stepped vs. Level Premiums
You can choose to pay either Stepped or Level Premiums. Stepped Premiums increase every year, but generally start off cheaper. Level Premiums stay the same and generally cost less in the long run. However, Level Premiums can increase by general premium rate rises and through Inflation Protection. Find out more

Terminal Illness Benefit
If you've chosen to be covered for illnesses, you'll also receive a lump sum payment if you're diagnosed with a terminal illness. Find out more

Funeral Advancement
To help with funeral expenses, your loved ones will receive an early payment of up to $25,000 if you die. 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. It’s easy to switch on your cover again. (This can only be set up over the phone). Find out more

 

The options you can add

Premium Relief
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. (This can only be set up over the phone). Find out more

How claims work

How to make a claim
To make a claim, get in touch with our Claims Team. Every claim is different so we assign you a dedicated Claim Manager to find out what you need, to make it as easy as possible for you. Find out more

Payments to your beneficiaries
You can choose who will receive your Life Insurance payment if you pass way. These people are called your beneficiaries, and they will receive a lump sum payment. You can change who your beneficiaries are at any time. Find out more

 

General Information

The cost
The cost of your Life Insurance cover will depend on a range of factors, including your age and gender, health, the cover options you choose, how long you’ve had insurance with us and whether you are a smoker. Find out more

Minimum and Maximum Cover
You can apply for between $100,000 and $1.5 million worth of cover. Some limits may apply depending on your income and age. Find out more

What you’re not covered for
TAL Lifetime Protection gives you options to build a comprehensive insurance plan, but there are some events we can’t cover. For example, if something happens to you while you’re travelling to a dangerous country, or if your death is due to suicide in the first 13 months. Find out more

Premium changes
Once your Cover is in place, your policy can’t be singled out for an increase in premium rates because of a change in your health or circumstances. However TAL is able to change the premium rates for all customers if conditions change or we receive more claims than expected. Find out more

Eligibility
The eligible age range is from 18 to 74 years old. Australian citizens, permanent Australian residents, or New Zealand citizens residing permanently in Australia are eligible to apply. Find out more

Cover Start and End Dates
We will notify you when your cover is active, and you will stay covered until the policy anniversary following your 99th birthday. This is provided you pay your premiums when they’re due, and you have complied with the Duty of Disclosure. Find out more

Loadings and Exclusions 
When you apply for TAL Lifetime Protection, you will be asked a number of questions.  These questions relate to your Duty of Disclosure, and your answers may mean that you have increased risk factors under the Policy.  Find out more

 

Need help deciding if Life Insurance is for you?

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