Providing for your loved ones when you are gone.
- 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 $2 million
- No medical tests required on application
- Available to purchase via self-managed super funds
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.
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.
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:
Examples of accidents:
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:
Examples of illnesses:
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:
Examples of Adventure Sports:
Life Insurance claims by gender and age
What benefits does Life Insurance include?
What important details do I need to know?
What isn't covered in my policy?
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 occurs while 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 continue 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.
Will my health and lifestyle be assessed?
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).
Can I tailor my 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.
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.
How does life insurance work?
“Life insurance” is the general term we give to the range of insurance that looks after you if something unexpected happens to your body or mind.
They are designed to protect your quality of life and the future you’ve planned for your loved ones.
The category of life insurance includes:
- Life Insurance (sometimes called term life insurance or death cover)
- Total Permanent Disability Insurance
- Recovery Insurance, and
- Income Protection Insurance.
Claims at TAL
Every claim we pay is a promise kept
In 2020, we paid $2.7 billion in claims to 36,901 customers and their families. That’s equivalent to over $45 million a week.
People often think claims are all about payments to families when a loved one passes away. And of course, that's part of what we do. But 68% of all the claims we paid last year were to help customers keep living the lives they love, after an accident or illness.
Your guide to making a claim
When things go wrong with your health, or the health of a loved one, you may find yourself doing many things for the first time. It’s sometimes tricky to know where to start and it can feel overwhelming. We’re here to support you to make your claim as easy as possible.
If you need to make a claim with TAL, you’ll be assigned a dedicated claims consultant. They’re there to understand your situation and what they can do to support you when making a claim.
Why choose TAL as your Life Insurance provider?
What other insurance can I include in my TAL Lifetime Protection Plan?
Total Permanent Disability Insurance
Gives you options to help you live a better quality of life if you are permanently disabled and can’t work.
Means you have choices so you can still make the most of life if you have a serious illness.
Income Protection Insurance
Provides you with an income to help you continue living your life if you have an injury or illness and can’t work.