Recovery Insurance

Protecting you if you become critically ill or injured.

Key features

  • You can apply if you're between 18-59 years old
  • Cover available from $100K - $500K
  • Lump Sum Payment if you are diagnosed with a covered illness or injury
  • No medical tests required on application
  • Bundle with your Life Insurance for lower premiums

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What is Recovery Insurance?

Recovery Insurance gives you financial freedom if you become critically ill or injured and require extensive medical treatment to recover your health.

A lump sum payment from your Recovery Insurance policy gives you the financial security in the worst of times.

It allows you the financial freedom to access the best medical treatment available, pay for your rehabilitation, and cut back on your work hours to concentrate on your recovery.

Recovery Insurance 

What am I covered for under Recovery 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.

Critical Injury Cover

You receive a lump sum payment to help you pay for support and treatment if you get a serious injury as a result of an Accident.

What you're covered for:

  • Severe Burns
  • Major Head Trauma
  • If your injury results in Intensive Care treatment
  • If your injury results in the permanent  conditions of Blindness, Loss of Hearing or Speech, Loss of a Single Limb, or Loss of Independent Existence

Critical Illness Cover

You receive a lump sum payment so you can afford medical treatment if you’re diagnosed with a serious medical condition or illness.

What you're covered for:

  • Heart conditions such as heart attack, or heart surgery
  • Neurological conditions, such as alzheimer’s disease, stroke or dementia
  • Organ disorders such as chronic kidney failure, or major organ transplants
  • Blood disorders such as aplastic anaemia
  • If your illness results in Intensive care treatment
  • If your illness results in a permanent condition such as blindness, loss of speech or hearing, loss of a single limb, or loss of independent existence

Cancer Cover

You receive a lump sum payment so you can afford medical treatment if you’re diagnosed with a covered cancer.

What you're covered for:

  • Melanoma
  • Malignant Tumours
  • Benign Brain Tumours
  • Early Stage Chronic Lymphocytic Leukaemia
  • Carcinoma in Situ (e.g. breast cancer)
  • Early Stage Prostate Cancer
     
PDS Download The full details of all conditions and 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.   E.g.  If you choose only Cancer Cover, you will not be covered for any events listed under Critical Injury Cover or Critical Illness Cover.

Regardless of the cover types you choose:

  • No payment will be made if the event giving rise to the claim is caused directly  or indirectly by suicide within the first 13 months of the Cover Commencement Date and any increases in Cover, but only in respect of the increase
  • No payment will be made under Recovery Insurance unless you survive a Covered Event for at least 14 days  (does not apply if Recovery Insurance is bundled with Life Insurance)

Before you apply...

What's not covered?

You will only be covered for the events listed under the Cover type you choose.   E.g.  If you choose only Cancer Cover, you will not be covered for any events listed under Critical Injury Cover or Critical Illness Cover.

Regardless of the cover types you choose:

  • No payment will be made if the event giving rise to the claim is caused directly  or indirectly by suicide within the first 13 months of the Cover Commencement Date and any increases in Cover, but only in respect of the increase
  • No payment will be made under Recovery Insurance unless you survive a Covered Event for at least 14 days  (does not apply if Recovery Insurance is bundled with Life Insurance)

During your application...

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.

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.

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 a specified excluded medical condition, or you are injured or die as a result of participating in an excluded pastime or activity.

After purchasing Recovery Insurance...

Waiting Periods & Conditions

If you have taken out Critical Illness Cover, a 3-month waiting period will apply to the following conditions before you can make a claim:

  • Angioplasty
  • Coronary Artery Bypass Surgery
  • Heart Attack
  • Heart Valve Surgery
  • Minor Heart Attack
  • Open Heart Surgery
  • Out of Hospital Cardiac Arrest
  • Stroke
  • Triple Vessel Angioplasty

Please note this condition:
Any claim for a Minor Heart Attack will be paid at 25% of the Benefit Amount to a maximum of $50,000 and can only be claimed once.

Need help deciding if Recovery Insurance is for you?

Help me choose

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 

 

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.