Life Insurance

Use CoverBuilder to build Life Insurance that's just right for you.

Key features

  • A lump sum payment if you die or are diagnosed with a terminal illness
  • Up to $1.5 million payment
  • No medical tests
  • Available to purchase via Self-managed super funds
  • Available if you’re between 18 and 74 years old
  • Get a quote and apply online with TAL CoverBuilder

TAL CoverBuilder

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Many people think Life Insurance is complicated. But at its heart, it's very simple.

Life Insurance is your children being able to stay in school; your family keeping their home; and your partner being able to live the life you've planned together. That's what Life Insurance is really about: protecting the ones you love and the choices and options you've worked hard to create.

Life insurance product and cover types

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. Find out more

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. Find out more

Adventure Sports

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. Find out more

The difference of TAL Lifetime Protection

Comprehensive protection

Access comprehensive cover online, with a broad range of built-in features to protect what matters most to you.

Tailored cover

Take customisation to a whole new level by choosing what you want to be covered for and what you don't. And only pay for the cover you need.

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?

Other ways to access insurance

Through a financial adviser

Sometimes you know exactly what you want from life insurance. But if things are a little more complicated, or you would like to look at life insurance as part of a wider wealth plan, it could pay to see a qualified professional who can discuss the different options. 

Find an adviser

Through your super fund

You most likely have some life insurance through your super fund. However, this is normally a default level of cover based on your age and occupation.

Please check with your super fund to find out how much cover you have.

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Everything you need to know about TAL Lifetime Protection

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