TAL is one of Australia’s most established life insurance companies, having been in business for over 140 years. It started out as Government Life Insurance Office in New Zealand in 1869 and moved into the Australian market in 1990. Over the next 21 years, Government Life Insurance acquired several smaller companies. In 1990, The Government Life Insurance Office was renamed, Tower.  By 2011, Tower split into two divisions – one in New Zealand, one in Australia – and rebranded its Australia division under its current name: TAL.

In addition to being one of the oldest companies, TAL is also the largest non-bank owned insurer that serves Australians. It has about 4 million customers, who received $1.6 billion in claims in 2017.

It is one of Australia’s highest rated life insurance providers and promises to offer competitive market premiums to policyholders.

In 2017 over 25,000 TAL customers received $1.6 billion in claim benefits… or over $30 million per week.

TAL Life prides itself on being a customer service oriented insurer. They believe that every claim they pay out is a promise kept to their customer base. With that, they pay out over $1 billion in claims every year.

In addition to paying claims in cases that involve a death, about 60% of the claims TAL Life pays are to help customers when they run into problems during their lives. These issues include accidents and illnesses that prevent them from working.

When filing a claim, every TAL Life customer is assigned an individual Claims Manager. The Claims Manager works with the customer to understand his or her individual needs and ensures the claim process goes smoothly and quickly. The Claims Manager also aims to facilitate much of the claims process over the telephone to help the customer avoid having to fill out numerous forms.

TAL Life also provides rehabilitation services to its customers as part of their living benefits. These rehabilitation services are designed to help customers who are on claim, get back to health and include:

• Tailored exercise plans
• Return to work assistance
• Planning advice
• Work placement

TAL Life also makes applying for coverage simple. Customers can apply through employers, super funds, advisers, or the online service. Most application decisions are made within three days, and after being accepted, customers could have access to TAL Life’s Accelerated Protection program, which gives policyholders access to their coverage benefits sooner.

Furthermore, TAL Life guarantees level life cover up to age 70 without increases in premiums for policyholders through to their 65th birthday.

TAL Life offers several types of coverage options. Customers have the option to customise their Insurance by choosing any combination of the coverage options in building their plan. They include:

TAL Lifetime Protection

TAL Lifetime Protection gives customers the option to build a personalised insurance plan that meets their individual needs. Customers can include:

• Life Insurance
• Total Permanent Disability Insurance
• Recovery Insurance
• Income Protection

Life Insurance

TAL’s Life Insurance plan provides a lump sum payout in the event of a death or terminal illness diagnosis. It is designed to assist with education fees, housing payments, and provide for other life style accommodations.

The types of available cover under the Life Insurance plan include:

• Accident Cover – Provides payment if death is the result of an accident.
• Adventure Sports Cover – Provides payment if death is the result of an adventure sport. Can be added to an Accident Cover plan.
• Illness Cover – Provides payment if death is the result of an illness.

Income Protection

TAL Life’s Income Protection plan offers an alternative source of income if the customer is temporarily unable to work due to an illness or injury. This plan provides a monthly payment for a determined period of time that helps with life’s expenses.

The types of available cover under the Income Protection plan include:

•  Accident Cover – Provides payment in the event of an accidental injury
• Illness Cover – Provides payment in the event of an illness

Total Permanent Disability (TPD)

TAL Life’s Total Permanent Disability plan provides a lump sum payment if the customer becomes permanently disabled due to an accident or illness and is no longer able to work. This payment is intended to help customers pay for medical care, rehabilitation services, and other life needs.  

You can tailor your cover to include one or both of the coverage types.  They include:

• Accident Cover – Provides payment if disability is the result of an accident
• Illness Cover – Provides payment if disability is the result of an illness

Trauma Insurance

TAL Life’s Trauma Insurance pays a lump sum if the customer becomes critically ill or injured and requires extensive medical treatment in order to recover. The payment is designed to cover medical treatments, rehabilitative services, and supplement potential lost wages.

The types of claimable events under the Recovery Insurance plan include:

•  Cancer Cover – Provides payment if the customer is diagnosed with a covered cancer. Covered cancers include:
•  Melanoma
•  Malignant Tumours
•  Benign Brain Tumours
•  Early Stage Chronic Lymphocytic Leukaemia
•  Carcinoma in Situ
•  Early Stage Prostate Cancer
• Heart conditions
• Neurological Disorders
• Permanent Conditions