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

    •  

PDS Download The full details of all covered conditions and the criteria that your diagnosis will need to meet are discussed in detail in the PDS.

What important details do I need to know?

What’s not covered:

You will only be covered for the events listed under the Cover type you choose.   
Eg, if you choose only Accident Cover, you will not be covered for any events listed under Illness Cover or Adventure Sports Cover

Regardless of the cover types you choose the following applies:

  • No payments will be made under Life Insurance if the event giving rise to the claim occurswhile you are visiting a country for which the Australian Department of Foreign Affairs and Trade (DFAT) has issued a ‘Do Not Travel’ warning advice that is in force during the time of your stay in that country
  • No payments will be made if your death is a result of suicide in the first 13 months

Cover Start and End Dates:

Once your application is accepted by us we guarantee to renew your Life Insurance Cover until the Policy Anniversary prior to your 100th birthday as long as you have complied with the Duty of Disclosure and you have paid premiums when due. This guarantee applies regardless of any change in your personal circumstances.

Your Cover will end when the full Benefit Amount is paid, Cover is removed from your Policy, Cover is cancelled through non-payment of premiums or when Cover expires at age 99.

There may be other reasons Cover may end.  See the PDS for further details. 

What's not covered

What’s not covered:

You will only be covered for the events listed under the Cover type you choose.   
Eg, if you choose only Accident Cover, you will not be covered for any events listed under Illness Cover or Adventure Sports Cover

Regardless of the cover types you choose the following applies:

  • No payments will be made under Life Insurance if the event giving rise to the claim occurswhile you are visiting a country for which the Australian Department of Foreign Affairs and Trade (DFAT) has issued a ‘Do Not Travel’ warning advice that is in force during the time of your stay in that country
  • No payments will be made if your death is a result of suicide in the first 13 months

Cover Start and End Dates:

Once your application is accepted by us we guarantee to renew your Life Insurance Cover until the Policy Anniversary prior to your 100th birthday as long as you have complied with the Duty of Disclosure and you have paid premiums when due. This guarantee applies regardless of any change in your personal circumstances.

Your Cover will end when the full Benefit Amount is paid, Cover is removed from your Policy, Cover is cancelled through non-payment of premiums or when Cover expires at age 99.

There may be other reasons Cover may end.  See the PDS for further details. 

Health & Lifestyle Assessment

Health & Lifestyle Assessment

 When you apply for TAL Lifetime Protection, you will be asked a number of questions related to your health and lifestyle.  You can answer these online or over the phone.  No medicals are required when you apply.

By agreeing to the Duty of Disclosure you have agreed to be honest and accurate in your answers to these questions.

Your answers to the questions may mean that you have increased risk factors under the Policy.

Loadings & Exclusions

In some cases we will be unable to provide you with all or some parts of the Cover for which you have applied.

In other cases, Cover may be subject to conditions such as a Premium Loading, or an Exclusion.

A Premium Loading will mean that you pay a higher premium for the Cover

An Exclusion will mean that you will not be Covered if you suffer or die from a specified excluded medical condition, or you are injured or die as a result of participating in an excluded pastime or activity.

Who receives the benefits?

Who receives the benefits?

You can nominate to whom we will pay your Life Insurance Benefit in the event of your death. This could be one or more people.  Your nominee(s) are called Nominated Benefit Recipient(s).

Any selection of Nominated Benefit Recipient(s) is binding on us once we’ve received your nomination and send written confirmation of the nomination back to you.  However, you can ask us to change or cancel a nomination at any time. If a nomination is made, details of the Nominated Benefit Recipient/s will be shown in your Policy Schedule. If a change or cancellation is made to a nomination, a new Policy Schedule will be issued as confirmation of the change.

 

If a Nominated Benefit Recipient passes away before you, the nomination of that Nominated Benefit Recipient becomes invalid.

If there are other surviving Nominated Benefit Recipients then the benefits will be paid to them in accordance with the proportions in
your nomination, but with those surviving proportions being scaled up to total 100%. 

If there is no surviving Nominated Benefit Recipient, then the Life Insurance Benefit will be paid to your estate or to your legal personal representative, or a person we are permitted to pay under the Life Insurance Act 1995 (Cth).

 

Tailoring your plan

Choosing a Premium Structure

You have the choice of Stepped or Level Premiums. Your choice will impact your monthly premium, and how your premium increases each year.

Learn More

Bundling your insurance:

 If you have Life Insurance with TAL, and have added TPD or Recovery Insurance to your plan, you have the option to keep each insurance independent from each other within your plan, or Bundle them together.

 Learn More

 

 

Need help deciding if Life Insurance is for you?

Help me choose

Find out about the other insurances you can include in your TAL Lifetime Protection Plan.

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2017 © TAL Services Limited a Dai-ichi Life Group Company.

"TAL is Australia's leading life insurance specialist” based on Inforce premiums for risk only life insurance policies, NMG Consulting (2016).

The information provided on this website is general advice only and does not take into account you individual needs, objectives or financial situation. You should read a Product Disclosure Statement (PDS) and Financial Services Guide (FSG) before making a decision to purchase or continue to hold a product. To read details of TAL Lifetime Protection products see the TAL Product Disclosure Statement (PDS) and Financial Services Guide(FSG). Applications subject to acceptance. Benefit periods, waiting periods, terms and conditions, exclusions and limitations apply. Life insurance issued by TAL Life Limited ABN 70 050 109 450 AFSL 237848.  Promoted and distributed by TAL Direct Pty Limited ABN 39 084 666 017 AFSL 243260.