Recovery Insurance

Use CoverBuilder to build Recovery Insurance that’s just right for you.

Key features

  • A lump sum payment if you are diagnosed with a covered illness or injury
  • Up to $500,000 payment
  • No medical tests
  • Available if you’re between 18 and 59 years old
  • Get a quote and apply online with TAL CoverBuilder

TAL CoverBuilder

Start building your cover today.

GET A QUOTE How to use TAL CoverBuilder

Sometimes, the most important changes are inspired by the least likely events. But if a serious illness, such as cancer or a heart attack, forces us to step back and reassess our life, we want to have choices and options available to us.

Recovery Insurance gives you the financial freedom to cut back your work hours, access the best medical treatment available, or take a well-deserved holiday while you’re recovering. 

After all, only half of life is what happens to us. The rest is what we make of it.

Recovery Insurance and cover types 

Critical Injury Cover

You receive a lump sum payment so you can afford support and treatment if you get a serious injury, such as severe burns.  Find out more

Critical Illness Cover

You receive a lump sum payment to spend as you wish if you’re diagnosed with a covered illness. For example, a heart attack.  Find out more

Cancer Cover

You receive a lump sum payment giving you choices for your recovery if you’re diagnosed with a covered cancer. For example, breast or prostate cancer.  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.

Recovery Insurance

Recovery Insurance
You can receive a lump sum payment if you’re diagnosed with a covered illness or injury. 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 Recovery Insurance cover. Find out more

Cancer Advancement Benefit
If you include Cancer Cover, we can make an advance payment of 25% of the total benefit amount up to $50,000. 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 by the same percentage as your cover. 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

Stepped vs. Level Premiums
You can choose to pay either Stepped or Level Premiums. Stepped Premiums increase every year, but generally start 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 

 

What's included

Recovery Insurance
You can receive a lump sum payment if you’re diagnosed with a covered illness or injury. 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 Recovery Insurance cover. Find out more

Cancer Advancement Benefit
If you include Cancer Cover, we can make an advance payment of 25% of the total benefit amount up to $50,000. 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 by the same percentage as your cover. 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

Stepped vs. Level Premiums
You can choose to pay either Stepped or Level Premiums. Stepped Premiums increase every year, but generally start 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 

 

The options you can add

Life Buy Back
If you bundle your Recovery Insurance with your Life Insurance, you can buy back any Life Insurance that has reduced after a Recovery Insurance payment. (This can only be set up over the phone). Find out more 

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
You will be the recipient of your lump sum payment. Find out more 

 

General Information

The cost
The cost of your Recovery Insurance 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 $500,000 worth of cover. Find out more

What you're not covered for
TAL Lifetime Protection gives you options to build a comprehensive cover plan, but there are some events we can’t cover. For example, if your injury is related to a suicide attempt in the first 13 months from when your cover commences. 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 59. 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 health and lifestyle questions. These questions relate to your eligibility, whether your insurance will have any exclusions or loadings, and your Duty of Disclosure. Your answers may mean that you have increased risk factors under the Policy. Find out more 

 

Need help deciding if Recovery 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. 

Download the PDS

Download the PDS

Everything you need to know about TAL Lifetime Protection

Chat to us
How can we help?

You can select from the options below, or call us on 131 825.

Close
Back to top