Recovery (Trauma) Insurance

Protecting you if you become critically ill or injured.

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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

What is Recovery (Trauma) 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 (Trauma) 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 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 (of a specified severity), or heart surgery
  • Neurological conditions, such as stroke (resulting in neurological deficit) or dementia including alzheimer’s disease (permanent)
  • Organ disorders such as chronic kidney failure (requiring transplantation or dialysis), or major organ transplants (of specified organs)
  • Blood disorders such as aplastic anaemia (requiring treatment)
  • If your illness results in Intensive care treatment
  • If your illness results in a permanent condition such as blindness (permanent), loss of speech or hearing (permanent), loss of use of a single limb (permanent), or loss of independent existence (permanent)

    • 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 (excluding Melanoma in Situ)
  • Diagnosed Benign Brain Tumour
  • Early Stage Chronic Lymphocytic Leukaemia
  • Carcinoma In Situ
  • 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.

    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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    Use our online tool to help you choose cover

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    Recovery Insurance claims by gender and age

    Learn more

    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.
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    What other benefits does Recovery Insurance include?

    Future Life Events

    Future Life Events means you can increase your Recovery Insurance Benefit Amount when specific life events occur, for example, getting married. This increase is not subject to the Health and Lifestyle Assessment.

    Some examples of applicable life events include:

    • You get married or divorced
    • You or your spouse become a parent through birth or adoption
    • Your child starts secondary school
    • You take out or increase a mortgage on your home

    See PDS for further details

     

    Future Life Events

    Future Life Events

    Future Life Events means you can increase your Recovery Insurance Benefit Amount when specific life events occur, for example, getting married. This increase is not subject to the Health and Lifestyle Assessment.

    Some examples of applicable life events include:

    • You get married or divorced
    • You or your spouse become a parent through birth or adoption
    • Your child starts secondary school
    • You take out or increase a mortgage on your home

    See PDS for further details

     

    Cover Pause

    Cover Pause

    You can pause your Cover for up to three months in the event of financial hardship. During Cover Pause you will not have to pay premiums.

    At the end of the Cover Pause period, you can re-start Cover without needing to go through the health and lifestyle assessment again.

    Once your Cover is restarted by paying your premium, a qualifying period of three months will apply for some medical conditions. You’ll be eligible to claim for those conditions should they occur three months or more after you re-start your Cover. 

    You will not be eligible to claim should you become ill or injured during the qualifying period or during the period your Cover is paused.

     See PDS for more details

    Inflation Protection

    Inflation Protection

    You can choose whether you want your Cover to increase each year in line with the cost of living – this will mean that your premium will increase each year as the Cover is increased through a process called Indexation.

    Inflation Protection automatically increases your Recovery Insurance cover amount by 5% every year, or by the Consumer Price Index - whichever is greater.

    Your premiums will also increase accordingly.

    See PDS for further details

     

    Cancer Advancement Benefit

    Cancer Advancement Benefit (for Cancer Cover only)

    We will make an advance payment to you if you suffer one of the listed conditions:

    • Advancement Benefit Event
    • Carcinoma In Situ;
    • Diagnosed Benign Brain Tumour;
    • Early Stage Chronic Lymphocytic Leukaemia;
    • Early Stage Melanoma; or
    • Early Stage Prostate Cancer

    The Amount to be Paid is 25% of the Benefit Amount, up to $50,000

    The same Exclusions apply as for Cancer Cover.

    Any Cancer Cover Benefit paid under the Cancer Advancement will reduce the overall Recovery Insurance Benefit Amount by a corresponding amount.

    See PDS for further details.

    Life Buy Back (optional extra)

    Life Buy-Back (optional extra)

    This option only applies if you have Bundled your insurance, and can be added to your policy at an extra cost. It is currently only available when you apply over the phone.

    If you have chosen to Bundle your Recovery Insurance with your Life Insurance, if a claim is paid for Recovery Insurance, your Life Insurance Cover amount will reduce by the same amount.

    However, for an additional premium, you can have the option to Buy Back any Life Insurance that has been reduced after payment of a full claim on your Bundled Recovery Insurance – up to the equivalent of the claim amount paid. 

    This increase in Cover is not subject to the Health and Lifestyle Assessment.

    See PDS for further details

     

    Premium Relief (optional extra)

    Premium Relief Option  (optional extra)

    This option can be added to your policy at an extra cost. It is currently only available when you apply over the phone.

    If you are between 18 and 59 when applying, you can add Premium Relief to your Recovery Insurance for an additional premium. If you are covered under this option, we will waive your Recovery Insurance premiums if you are unable to work for at least three consecutive months due to Illness or Accident.

    To qualify for the Premium Relief Option you will need to be:

    • Totally unable to work in any occupation that you could be considered suitable for by training, education or experience;
    • Not earning an income; and
    • Following the advice of a Medical Practitioner

    See PDS for further details

     

    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
    • Cancer
    • Heart Attack (of a specified severity)
    • Heart Valve Surgery
    • Minor Heart Attack
    • Open Heart Surgery
    • Triple Vessel Angioplasty
    • Stroke (resulting in neurological deficit)
    • Carcinoma In Situ
    • Diagnosed Benign Brain Tumour
    • Early Stage Chronic Lymphocytic Leukaemia
    • Early Stage Skin Melanoma (excluding Melanoma in Situ), or
    • Early Stage Prostate Cancer.

    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.

    Medical Definitions
    The medical definitions for our products are regularly reviewed to ensure that the definitions remain current. Minimum standard medical definitions are set out in the Code of Practice and apply to standard Recovery Insurance where we issue your Life Insurance Policy on or after 1 July 2017.

    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. 

    Learn More

     

    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. 

    Learn More

     

     

    Why choose TAL as your Recovery Insurance provider?

    Australia's leading life insurer
    TAL is a leading Life Insurance specialist
    TAL Customers
    Trusted by 4.5 million Australians
    Commitment to Claims
    $2.7 billion in claims paid in 2020


    What other insurance can I include in my TAL Lifetime Protection Plan?

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    2021 © TAL Services Limited a Dai-ichi Life Group Company.

    "TAL is Australia's leading life insurer" based on Inforce premiums for risk only life insurance policies, NMG Consulting (2021).

    The information provided on this website is general advice only and does not take into account your individual needs, objectives or financial situation. You should read the relevant Product Disclosure Statement (PDS) before making a decision to purchase or continue to hold a product. Life insurance issued by TAL Life Limited ABN 70 050 109 450 AFSL 237848.