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TAL Life Limited at a Glance:

  • Year Established: 1990
  • TAL Life Limited (previously TOWER Australia Limited) is the largest non-bank owned life insurance company in Australia. Having consistently won a number of prestigious awards, year after year for their products and services, they are widely acknowledged as a leading life insurer with a strong commitment to the Australian adviser market.
  • TAL Life Limited (previously TOWER Australia Limited) is the largest non-bank owned life insurance company in Australia. In April 2011, TOWER Australia became a wholly owned subsidiary of Dai-ichi Life and was removed from the Australian Securities Exchange. In June 2011 TOWER Australia Limited became TAL Life Limited
  • Awards:
    • Winner – Life Insurance Company of the Year 2012 (Australian Banking + Finance Awards)
    • Winner – Life Company of the Year 2011 (AFA/Plan For Life Awards)
    • Winner – Life Insurance Company of the Year 2011 (Australian Banking + Finance Awards)
    • Winner – Life & TPD Insurance Product Award 2011 (AFA/Plan for Life Awards)
    • Winner – Life Insurance Product of the Year 2011 (Australian Banking + Finance Awards)

About TAL

TAL is committed to making Life Insurance a valued and understood part of Australian lives. They are passionate about life, life insurance and advice. TAL has leading competitive propositions in each of its core markets with a broad distribution footprint through advice, workplace/group and direct to customer channels.

Their strategy is to achieve market leadership with the interests of clients and advisers through:

  • delivering valued products and services,
  • strong business partnering,
  • innovative technology, and
  • ensuring people can easily obtain life insurance cover that best suits their needs.

As a product Accelerated Protection:

  • is suited to clients of all ages and demographics with the flexibility to meet changing needs,
  • has the option of comprehensive feature-rich cover or standard plans,
  • is rated highly by independent research houses, and
  • offers value for money at market competitive premiums.

Product Offerings:

TAL offers a wide range of insurance products. Their risk insurance products include:

  •  Life Insurance Plan (also available through TAL Super)
  • TPD Insurance Plan
  • Critical Illness Plan: Standard and Premier
  • Income Protection Plan: Standard (also available through TAL Super), Premier and Optimal
  • Business Expense Plan

Specific Unique Features of Accelerated Protection

  • Life Cover Level premium rates are guaranteed not to increase until the policy anniversary date immediately preceding the client’s 65th birthday.
  • Superlink TPD – allowing clients to structure Own Occupation TPD both inside and outside of superannuation.
  • Critical Illness Premier – cover for 61 specified medical conditions which includes early payments for conditions, such as lower grade cancers as well as female related conditions.
  • Needlestick Benefit – Free cover for Occupationally Acquired HIV, and Hepatitis B & C, for medical professionals. Available in Critical Illness Premier and Income Protection Critical Illness Option.
  • Free built-in Child’s Critical Illness benefit of $10,000 in our Critical Illness, TPD and Life Insurance Plans.
  • Income Protection Premier and Standard – provide a three tier total disability definition, delivering the best outcome for the client as well as no requirement for the client to be Totally Disabled during the Waiting Period to meet the Partial Disability Definition.
  • Income Protection Premier includes a 10 hour rule for clients who are unable to work more than 10 hours a week. Their occupational earnings will not be used to offset the monthly benefit. Their loss is deemed to be 100% and they will be paid the full monthly benefit.
  • No net loss requirement for a claim to be eligible under Business Expense Insurance. The turnover of the client’s business will not affect the benefit amount when disabled.

Why choose TAL?

The reason why advisers choose TAL is because they offer market leading products, value adding partnerships, backed up by being the easiest company to do business with. Accelerated Protection offers risk advisers a fully featured life insurance product, with the choice of both online and offline submissions.  It is backed by industry-leading new business completion times with a commitment to deliver:

  • 85% of underwriting decisions in three working days
  • Low ‘Not Proceeded With’ rates
  • Reduced follow-up times
  • Low administration costs
  • Faster commission payments, and
  • They guarantee level life to 70 as well

What sets Accelerated Protection apart from other products on the market is that it has been specifically designed to support and complement the unique Accelerated underwriting process and service proposition. Accelerated Protection is not just a product, it is a complete offer, designed to make TAL the easiest company to do business with.

Always read the Product Disclosure Statement for each policy before making a decision to buy.

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