Life Insurance

Providing for your loved ones when you are gone.

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Premium type/entry age

Stepped premiums: 16 – 75 (age next birthday)
Level premiums: 16 – 60 (age next birthday)

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 are the key features?

Lump Sum Payment if you die or are diagnosed with a terminal illness
With our Guaranteed Future Insurability Benefit, cover can be increased up to $200,000, without underwriting
$10,000 of Critical Illness cover for children built-in
Eligible for TAL Health Sense discount

Flexibility, innovation, great value

How our award-winning life insurance product works for you:

Designed for flexibility

Mix and match a range of products and features to best suit your needs

Simple rewards if you're healthy

Clever features like our popular TAL Health Sense discount

We’re there when it matters

Every working day we pay an average of $5.3m in claims

What benefits does Life Insurance include?

Not all benefits, options and sum insured levels are available online.

Death Benefit

A lump sum payment will be paid to your Nominated Benefit Recipient or the Policy Owner if you pass away while you have Life Insurance Cover under a current TAL Accelerated Protection Policy.

Terminal Illness Benefit

The Benefit Amount is payable when the Life Insured is diagnosed as Terminally Ill. If the Terminal Illness Benefit is paid, we will cancel any Attached or Linked Plans.

Advanced Payment Benefit

The Advanced Payment Benefit is an advance payment of 10% of the Benefit Amount, up to a maximum of $25,000. This benefit will be paid when the death certificate or a medical certificate confirming death of the Life Insured is provided to us. In the first three years from the Plan start date, the Advanced Payment Benefit will only be paid if the Life Insured’s death resulted from an Accident. After the first three years, the Advanced Payment Benefit will apply for all causes of death unless the cause of death is excluded. Payment of the Advanced Payment Benefit does not mean any admission or acceptance of any claim or liability regarding current or future payments under Life Insurance. If we pay the Advanced Payment Benefit and our assessment of the claim determines that the Death Benefit will not be paid due to breach of the duty of disclosure or a misrepresentation, we will require the Advanced Payment Benefit to be repaid to us. If the Advanced Payment Benefit is paid, it will reduce the Benefit Amount by the amount paid under the Advanced Payment Benefit.

Repatriation Benefit

If the Life Insured dies outside Australia, we will increase the maximum amount payable under the Advanced Payment Benefit to 10% of the Benefit Amount up to a maximum of $35,000. This benefit will be paid when the death certificate or a certified medical certificate by a Medical Practitioner, confirming death of the Life Insured outside of Australia is provided to us. All other terms and conditions of the Advanced Payment Benefit apply to the Repatriation Benefit.

Inflation Protection Benefit

Automatically increases the Benefit Amount on the Policy anniversary by the greater of 5% and the Inflation Factor to help keep pace with inflation. Increased cover affects your premium, so you have the option to remove this benefit.

Long Distance Accommodation Benefit

Reimburses up to $250 per day, up to 14 days, for accommodation costs of an Immediate Family Member when they are required to travel more than 100 km to be with you. To be eligible, you must be Bed Confined more than 100 kilometres from your usual place of residence and the Terminal Illness Benefit, 100% of the TPD Insurance Benefit Amount or 100% of the Critical Illness Insurance Benefit Amount has been paid.

Premium Freeze Benefit

Your premiums stay the same and the Benefit Amount will reduce at each Policy anniversary. This benefit can only be exercised if stepped premiums have been selected and you are at least 30 years of age.

Financial Planning Benefit

Reimburses up to $5,000 on fees for professional financial planning advice incurred when we pay 100% of the Benefit Amount. Your financial plan must be prepared by a financial adviser within 12 months of the date we paid your claim and we must receive evidence of the financial plan.

Grief Support Benefit

This benefit is available to you or your Immediate Family Member who need support when we pay 100% of the Benefit Amount. We will reimburse the cost of up to three grief support sessions, to a total maximum cost of $1,000 for all 3 sessions, with an accredited health provider approved by us, acting reasonably (the health provider should be competent, recognised and appropriately qualified to provide the support).

Child’s Critical Illness Benefit

Pays a benefit of $10,000, if your child (aged between 2 and 19 next birthday) suffers a Child’s Critical Illness Event listed under the Child’s Critical Illness Insurance. The severity criteria set out for the events in Section 9.3 in the PDS must be met in order for a benefit to be payable. Pre-existing conditions are excluded, and certain conditions are excluded if they occur or were diagnosed within three months of the Policy commencing or being reinstated.

Death Benefit

A lump sum payment will be paid to your Nominated Benefit Recipient or the Policy Owner if you pass away while you have Life Insurance Cover under a current TAL Accelerated Protection Policy.

Terminal Illness

Terminal Illness Benefit

The Benefit Amount is payable when the Life Insured is diagnosed as Terminally Ill. If the Terminal Illness Benefit is paid, we will cancel any Attached or Linked Plans.

Advanced Payment Benefit

Repatriation Benefit

Inflation Protection Benefit

Long Distance Accommodation Benefit

Premium Freeze Benefit

Financial Planning Benefit

Grief Support Benefit

Child’s Critical Illness Benefit

How much will it cost?

At TAL, we understand that everyone is unique, so naturally your insurance should be too. That's why we've created TAL CoverBuilder to allow you to build your cover, your way.

With Coverbuilder you can choose your insurance and your cover, tailor your cover amount and select the options that best suit you.

Get started with TAL CoverBuilder

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Life Insurance claims by gender and age

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Claims statistics based on total number of Total and Permanent Disability Insurance claims paid by gender and age by TAL Life Limited and Asteron Life & Superannuation Limited between 1 January 2020 and 31 December 2020. Age of claimant based on age at the date of event.

What important details do I need to know?

How much life insurance do I need?

The amount of insurance you need depends on you and your unique life circumstances. This information does not consider your individual needs, objectives or financial situations. You should consider your individual circumstances before making any decision.

For example, you insure your car or your home contents for the amount that it would cost to replace whatever was damaged or stolen. With life insurance, you should consider how much you’d need to keep up your lifestyle or the lifestyle of the ones you love, if the unexpected happened.

Some questions which can help you to understand how much cover you’d need, include:

Do you have a mortgage or other debts?
Do you have a spouse or partner? If so, are they working and could they support themselves financially?
Do you have any kids or other people who depend on you to look after them?
What would be the impact to your day-to-day lifestyle if you didn’t have your income?
For how long would you like your family to live on the payment?
How much could rehabilitation cost if you needed it?

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.

Will my life insurance pay for ongoing medical expenses?

No, life insurance works differently to health insurance or government help, which might cover you for medical expenses like specialist appointments or hospital treatment.

We do offer a range of support services to help with your rehabilitation, which you can apply to use as part of your recovery plan, at no cost to you.

How often do I pay insurance premiums?

We offer annual, half-yearly, quarterly and monthly payment options.

What is underwriting?

Underwriting is a term used to describe the process of assessing insurance risk prior to issuing a policy. It usually takes the form of questions about your occupation, medical history and activities you enjoy doing. Underwriting is designed to ensure the premiums and cover terms for your insurance plan are appropriate for your own medical situation, lifestyle and occupation, and for the insurer to assess if insurance can be provided to you and if so on what terms.

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 at the same, or a similar, rate. This is reflected in your premium. This will help to ensure that your insurance cover has not been eroded by the effects of inflation if you, or your family, need to pay expenses from your payment.

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.

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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.

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Why choose TAL as your Life Insurance provider?

TAL is a leading Life Insurance specialist

Trusted by 4.5 million Australians

$2.7 billion in claims paid in 2020

24/7 access to a dedicated Grief Support service

What other insurance can I include in my TAL life insurance plan?

Find out more