Income Protection Insurance

Financial protection if you are temporarily unable to work due to illness or injury.

Money Magazine – Best value direct life insurance 2025

Money Magazine Best value direct income protection insurance, white collar professionals 2025

Money Magazine Best value direct income protection insurance, white collar professionals 2024

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TAL Income Protection

TAL Income Protection is designed to suit you and your loved ones, offering a range of flexible and innovative benefits to support you when you need it most. When you set up your policy, you’ll be able to create cover that gives you exactly what you need.

We offer two options each with its own benefits to suit your needs.

Income Protection Extend
Income Protection Focus

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Resources

Key features & benefits

Maximum benefit amount

Your policy can cover up to 70% of your monthly income. You can get a quote online for cover up to $20,000 per month. For cover up to a maximum benefit of $30,000 per month, please call us on 131 825 or speak to your Financial Adviser.

Waiting Period

Choose a waiting period that suits you. The waiting period starts when you first become unable to work due to a sickness or injury. The Income Protection benefit only starts after the end of the waiting period and is paid one month after the end of the waiting period.

Refer to the section: What important details I need to know? for details.

Benefit Period

Select a benefit period to meet your needs – this is how long you will receive payments for if you are unable to work. Choose from a period of one, two, five years or up to age 65.

Refer to the section: What important details I need to know? for details.

Premiums could be tax deductible

Since your premiums are directly related to your work, they could be tax deductible. Check with your accountant or the ATO to ensure you are eligible.

What is Income Protection Insurance and how does it work?

Income protection insurance provides you with regular monthly payments if you’re unable to work due to sickness or injury.

By maintaining regular household income, income protection allows you and your family to keep up with your expenses, even if you aren’t working. This eases the financial pressure, so you can focus on getting back on your feet.

Payment amount and length of cover will depend on your circumstances.

Differences between IP Focus and IP Extend

To better understand each option, please read the Income Protection Insurance key facts for examples and the Product Disclosure Statement which contains important information including what's covered and what's not covered.

Download documents

Income Protection Focus

View example

How much can you apply to receive

Up to 70% of your Earnings

How long can benefits be payable for a claim

1, 2 or 5 years

How long do you have to wait from when you're unable to work and start to accrue benefits

Choice of 4, 8 or 13 weeks

How much will you be paid if you are Totally Unable to Work

Benefit Amount^{1, 2}

How much will you be paid if you are Partially Unable to Work

The Benefit Amount³ less 75% of Earnings when Partially Unable to Work

What Occupation definition is used when a claim is paid?

Own Occupation—see example.

Income Protection Extend

View examples

How much can you apply to receive

Up to 70% of your Earnings

How long can benefits be payable for a claim

To age 65

How long do you have to wait from when you're unable to work and start to accrue benefits

Choice of 4, 8 or 13 weeks

How much will you be paid if you are Totally Unable to Work

Your Benefit Amount^{1, 2}

How much will you be paid if you are Partially Unable to Work

1 - 24 months on claim: Benefit Amount³ less 75% of Earnings when Partially Unable to Work
After 24 months on claim: Benefit Amount³ less 100% of Earnings when Partially Unable to Work

What Occupation definition is used when a claim is paid

In the first 24 months on claim, we use the Own Occupation.
After 24 months on claim, this changes to Any Occupation—see examples.

1. If the claim started after the Policy anniversary before your 60th birthday, the amount used to calculate the benefit payable will be 2/3rd of the Benefit Amount after the Claim Period exceeds 24 months.

2. The amount payable may be reduced if an offset applies (such as when you receive payments from certain other income protection insurance or workers’ compensation related to the injury or sickness which causes you to cease work).

3. The amount payable may be subject to an adjustment (for example if partially working but not working to the your full capability).

What important details do I need to know?

IP Focus

How the Benefit Period applies

Jill has IP Focus with a 2-year Benefit Period. She suffered a Sickness and was medically certified Totally Unable to Work in her Own Occupation.

While she was on claim, she suffered an Injury which also prevented her from working. Immediately before the Injury, Jill had already received 20 months of Totally Unable to Work Benefit due to her Sickness. An additional benefit will not be paid for Jill’s Injury while she is already on claim.
Jill remained Totally Unable to Work due to both the Sickness and Injury for another six months. However, her claim will be finalised once her Claim Period has reached 24 months because Jill selected to have a 2-year Benefit Period.
For Jill to be eligible to make another claim on her Income Protection, she must return to work for at least 6 consecutive months, working at least 20 hours per week on average. Jill will not be able to make another claim for the same Sickness/Injury or related Sickness/Injury for which the maximum Benefit Period has already been paid for.

IP Extend

Stricter claims criteria after two years

Albert has IP Extend with a Benefit Amount of $7,000 per month. He was 50 years old when he suffered an Injury and was medically certified Totally Unable to Work in his Own Occupation¹.

For the first 24 months of the Claim Period, Albert remained Totally Unable to Work in his Own Occupation¹. He was paid the Totally Unable to Work Benefit at $7,000 per month.
From the 25th month of the Claim Period, the definition which applies to a claim is based on Albert’s ability to work in Any Occupation². The Totally Unable to Work Benefit will only be paid if Albert is unable to work in Any Occupation² given his education, training and experience.
Based on Albert’s education, training and experience, he was able to work (notwithstanding his injury) in another suitable occupation. As a result, Albert no longer qualifies for the Totally Unable to Work Benefit but may be eligible for the Partially Unable to Work Benefit.

IP Extend

Claiming beyond two years

Francis has IP Extend with a Benefit Amount of $7,000 per month. He was 50 years old when he suffered a Sickness or Injury and was medically certified Totally Unable to Work in his Own Occupation¹.

For the first 24 months of the Claim Period, Francis remained Totally Unable to Work in his Own Occupation¹. He was paid the Totally Unable to Work Benefit at $7,000 per month.
From the 25th month of the Claim Period, Francis remained Totally Unable to Work in Any Occupation². As a result, he continued to be paid the Totally Unable to Work Benefit at $7,000 per month.
Francis will continue to be paid the Totally Unable to Work Benefit until the end of his Benefit Period (to age 65), as long as he meets the requirements for the Totally Unable to Work Benefit, which includes remaining Totally Unable to Work in Any Occupation².
If the claim had started after the Policy anniversary before Robert’s 60th birthday, the Totally Unable to Work Benefit payable would have been $4,666.67 per month (2/3 x Benefit Amount) after 24 months on claim.

1. Own Occupation means the occupation or business in which you were working immediately before the start of the Waiting Period. If you were Unemployed or on Long Term Leave for more than 12 consecutive months immediately before the start of the Waiting Period, ‘Own Occupation’ will be replaced with ‘Any Occupation’; or Unemployed or on Long Term Leave for less than 12 consecutive months immediately before the start of the Waiting Period, ‘Own Occupation’ means the most recent occupation in which you were working prior to the start of the Waiting Period.

2. Any Occupation means an occupation that you are suited for after considering your work experience, training, education and transferable skills regardless of whether the work or employment is available. An occupation that you are reasonably suited for includes suitable alternate occupations where upskilling is required, and the training course/program can be completed within 12 months on a full-time basis or 24 months on a part-time basis.

What’s not covered:

No payment will be made under Income Protection and any included or optional benefits (if applicable), if the claim arises:

directly or indirectly because of an intentional, self-inflicted act by the Life Insured;
because of normal and uncomplicated pregnancy, miscarriage or childbirth. Normal and uncomplicated pregnancy includes, but is not limited to morning sickness, backache, varicose veins, ankle swelling, bladder problems, multiple pregnancy, carpal tunnel syndrome, or participation in an IVF or similar program;
directly or indirectly because of War or an act of war, even if the disability manifests itself after the War or warlike activity;
directly or indirectly as a result of the Life Insured participating in criminal activity. No payments will be made for any periods where the Life Insured was incarcerated due to their participation in a criminal act; or
directly or indirectly as a result of a permanent or temporary banning, deregistration, disqualification or restriction being placed on the Life Insured from performing all or some of the duties of their Working Occupation.

Travel outside Australia

If Life Insured is outside Australia, the Totally Unable To Work Benefit and/or the Partially Unable to Work Benefit will be limited to three months of payments. Entitlement to further and/or ongoing benefits will be assessed once the Life Insured returns to Australia and has met the necessary claim requirements (refer to Section 3 of the PDS for details). If we limit payment of the Totally Unable to Work Benefit and/or Partially unable to Work Benefit payment to three months and the Life Insured remains Totally Unable to Work or Partially Unable to Work, the Overseas Assistance Benefit may be available to assist the Life Insured to return to Australia. This limitation will not apply during periods when the Life Insured is medically certified as unfit for air travel, or where air travel to Australia is not possible.

Waiting Periods

A choice of Waiting Periods applies from the Date of Disablement before Benefits commence:

4 weeks;
8 weeks; or
13 weeks

Occupational restrictions may apply when applying for new Income Protection cover or when you increase your Income Protection cover.

See example in the Income Protection Insurance key facts.

Benefit Periods

Your benefit period options will depend on the income replacement option you choose:

Income Protection (IP) Focus covers up to 70% of your income with a choice of a one, two or five-year benefit period. The Own Occupation definition applies for the duration of the benefit period.
All benefits will stop on the policy end date (even if the benefit period extends beyond the policy end date). For each claim condition or event, the total cumulative benefits we will pay is limited to the benefit period that you have chosen.
Income Protection (IP) Extend covers up to 70% of your income for the duration of your benefit period. The Own Occupation definition applies for the first two years of the claim, and after two years on claim changes to the Any Occupation definition.

Conditions

All benefit payments under Income Protection are limited by the terms and conditions set out in Section 2.6, Section 3 and Section 9 of the PDS.

The benefit payable may be reduced or stopped as a result of the following:

If you are not working or earning to your full capability (refer to ‘How much is payable and what are the ongoing benefit payments?’ and ‘When will we adjust your benefit payments?’ in Section 2.6.1 of the PDS for details).
If you are receiving other payments (refer to Section 2.6.5 of the PDS for details).
The Totally Unable to Work Benefit or Partially Unable to Work Benefit will stop after three months if you are overseas (refer to Section 2.6.4 of the PDS for details).

A claim resulting from or related to any of the following will be excluded (refer to Section 2.6.4 of the PDS for details):

Intentional self-inflicted act.
Normal and uncomplicated pregnancy.
War or act of war.
Deregistration, disqualification or restriction which prevents or restricts you from performing your occupation.
Participation in a criminal act and/or for any period that you are incarcerated due to your participation in criminal act.

A claim may not be paid or paid at a reduced amount, if a special condition applies. If applicable, the special condition will be shown in the Policy Schedule.

What is underwriting?

Underwriting is a term used to describe the process of assessing insurance risk prior to issuing a policy. It usually takes the form of questions about your occupation, medical history and activities you enjoy doing. Underwriting is designed to ensure the premiums and cover terms for your insurance plan are appropriate for your own medical situation, lifestyle and occupation, and for the insurer to assess if insurance can be provided to you and if so on what terms.

Loadings & Exclusions

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 as a result of participating in an excluded pastime or activity.

At time of claim, you will need to provide proof of your Pre-Claim Earnings to support the Benefit Amount. If your Pre-Claim Earnings do not justify your monthly insured Benefit Amount, any benefit payable to you will be reduced. If your income has reduced since you purchased your Policy, you may want to review your Income Protection cover and/or speak to a financial adviser.
The Totally Unable to Work Benefit and the Partially Unable to Work Benefit only become payable after the end of the Waiting Period. The only benefits that are potentially payable for an event that occurred during the Waiting Period are the Bed confinement Benefit and the Death Benefit.
The Totally Unable to Work Benefit and the Partially Unable to Work Benefit are paid monthly in arrears after the Waiting Period ends. For example, if you have a 4 week Waiting Period, the first monthly benefit will be paid to you around the end of the second month from when the Waiting Period started and monthly thereafter (unless we agree to an alternative).

Examples of how IP Focus and IP Extend works in the event of a claim

IP Focus

How the Benefit Period applies

Jill has IP Focus with a 2-year Benefit Period. She suffered a Sickness and was medically certified Totally Unable to Work in her Own Occupation.

While she was on claim, she suffered an Injury which also prevented her from working. Immediately before the Injury, Jill had already received 20 months of Totally Unable to Work Benefit due to her Sickness. An additional benefit will not be paid for Jill’s Injury while she is already on claim.
Jill remained Totally Unable to Work due to both the Sickness and Injury for another six months. However, her claim will be finalised once her Claim Period has reached 24 months because Jill selected to have a 2-year Benefit Period.
For Jill to be eligible to make another claim on her Income Protection, she must return to work for at least 6 consecutive months, working at least 20 hours per week on average. Jill will not be able to make another claim for the same Sickness/Injury or related Sickness/Injury for which the maximum Benefit Period has already been paid for.

IP Extend

Stricter claims criteria after two years

Albert has IP Extend with a Benefit Amount of $7,000 per month. He was 50 years old when he suffered an Injury and was medically certified Totally Unable to Work in his Own Occupation¹.

For the first 24 months of the Claim Period, Albert remained Totally Unable to Work in his Own Occupation¹. He was paid the Totally Unable to Work Benefit at $7,000 per month.
From the 25th month of the Claim Period, the definition which applies to a claim is based on Albert’s ability to work in Any Occupation². The Totally Unable to Work Benefit will only be paid if Albert is unable to work in Any Occupation² given his education, training and experience.
Based on Albert’s education, training and experience, he was able to work (notwithstanding his injury) in another suitable occupation. As a result, Albert no longer qualifies for the Totally Unable to Work Benefit but may be eligible for the Partially Unable to Work Benefit.

IP Extend

Claiming beyond two years

Francis has IP Extend with a Benefit Amount of $7,000 per month. He was 50 years old when he suffered a Sickness or Injury and was medically certified Totally Unable to Work in his Own Occupation¹.

For the first 24 months of the Claim Period, Francis remained Totally Unable to Work in his Own Occupation¹. He was paid the Totally Unable to Work Benefit at $7,000 per month.
From the 25th month of the Claim Period, Francis remained Totally Unable to Work in Any Occupation². As a result, he continued to be paid the Totally Unable to Work Benefit at $7,000 per month.
Francis will continue to be paid the Totally Unable to Work Benefit until the end of his Benefit Period (to age 65), as long as he meets the requirements for the Totally Unable to Work Benefit, which includes remaining Totally Unable to Work in Any Occupation².
If the claim had started after the Policy anniversary before Robert’s 60th birthday, the Totally Unable to Work Benefit payable would have been $4,666.67 per month (2/3 x Benefit Amount) after 24 months on claim.

What's not covered

What’s not covered:

No payment will be made under Income Protection and any included or optional benefits (if applicable), if the claim arises:

directly or indirectly because of an intentional, self-inflicted act by the Life Insured;
because of normal and uncomplicated pregnancy, miscarriage or childbirth. Normal and uncomplicated pregnancy includes, but is not limited to morning sickness, backache, varicose veins, ankle swelling, bladder problems, multiple pregnancy, carpal tunnel syndrome, or participation in an IVF or similar program;
directly or indirectly because of War or an act of war, even if the disability manifests itself after the War or warlike activity;
directly or indirectly as a result of the Life Insured participating in criminal activity. No payments will be made for any periods where the Life Insured was incarcerated due to their participation in a criminal act; or
directly or indirectly as a result of a permanent or temporary banning, deregistration, disqualification or restriction being placed on the Life Insured from performing all or some of the duties of their Working Occupation.

Travel outside Australia

Waiting Periods & Benefit Periods

Waiting Periods

A choice of Waiting Periods applies from the Date of Disablement before Benefits commence:

4 weeks;
8 weeks; or
13 weeks

Occupational restrictions may apply when applying for new Income Protection cover or when you increase your Income Protection cover.

See example in the Income Protection Insurance key facts.

Benefit Periods

Your benefit period options will depend on the income replacement option you choose:

Income Protection (IP) Focus covers up to 70% of your income with a choice of a one, two or five-year benefit period. The Own Occupation definition applies for the duration of the benefit period.
All benefits will stop on the policy end date (even if the benefit period extends beyond the policy end date). For each claim condition or event, the total cumulative benefits we will pay is limited to the benefit period that you have chosen.
Income Protection (IP) Extend covers up to 70% of your income for the duration of your benefit period. The Own Occupation definition applies for the first two years of the claim, and after two years on claim changes to the Any Occupation definition.

Conditions

All benefit payments under Income Protection are limited by the terms and conditions set out in Section 2.6, Section 3 and Section 9 of the PDS.

The benefit payable may be reduced or stopped as a result of the following:

If you are not working or earning to your full capability (refer to ‘How much is payable and what are the ongoing benefit payments?’ and ‘When will we adjust your benefit payments?’ in Section 2.6.1 of the PDS for details).
If you are receiving other payments (refer to Section 2.6.5 of the PDS for details).
The Totally Unable to Work Benefit or Partially Unable to Work Benefit will stop after three months if you are overseas (refer to Section 2.6.4 of the PDS for details).

A claim resulting from or related to any of the following will be excluded (refer to Section 2.6.4 of the PDS for details):

Intentional self-inflicted act.
Normal and uncomplicated pregnancy.
War or act of war.
Deregistration, disqualification or restriction which prevents or restricts you from performing your occupation.
Participation in a criminal act and/or for any period that you are incarcerated due to your participation in criminal act.

A claim may not be paid or paid at a reduced amount, if a special condition applies. If applicable, the special condition will be shown in the Policy Schedule.

During your assessment

What is underwriting?

Loadings & Exclusions

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 as a result of participating in an excluded pastime or activity.

Other important information

At time of claim, you will need to provide proof of your Pre-Claim Earnings to support the Benefit Amount. If your Pre-Claim Earnings do not justify your monthly insured Benefit Amount, any benefit payable to you will be reduced. If your income has reduced since you purchased your Policy, you may want to review your Income Protection cover and/or speak to a financial adviser.
The Totally Unable to Work Benefit and the Partially Unable to Work Benefit only become payable after the end of the Waiting Period. The only benefits that are potentially payable for an event that occurred during the Waiting Period are the Bed confinement Benefit and the Death Benefit.
The Totally Unable to Work Benefit and the Partially Unable to Work Benefit are paid monthly in arrears after the Waiting Period ends. For example, if you have a 4 week Waiting Period, the first monthly benefit will be paid to you around the end of the second month from when the Waiting Period started and monthly thereafter (unless we agree to an alternative).

What other benefits does Income Protection include?

Not all benefits, options and sum insured levels are available online.

Totally Unable to Work Benefit

Pays a benefit after the end of the Waiting Period and monthly in arrears if you are Totally Unable to Work because of a Sickness or Injury.

What does Totally Unable to Work mean? Totally Unable to Work means that solely because of Sickness or Injury, the Life Insured is:

not working in any capacity (this includes fulltime, part-time and casual, whether or not for remuneration);
following the advice and treatment plan of a Medical Practitioner in relation to the Sickness or Injury, and
unable to perform all the duties necessary to generate income in the Life Insured’s Own Occupation (if the Life Insured is able to perform any duties necessary to generate income in their Own Occupation*, they are not Totally Unable to Work).

* If the ‘to age 65’ Benefit Period applies, following the first 24 months of the Claim Period, Own Occupation will be replaced with Any Occupation.

Partial Disability Benefit

Pays a portion of the benefit after the end of the Waiting Period and monthly in arrears if you are Partially Unable to Work because of a Sickness or Injury.

What does Partially Unable to Work mean? Partially Unable to Work means that solely because of Sickness or Injury, the Life Insured is:

Working (whether or not for remuneration) in a reduced capacity or capable of working in a reduced capacity;
Following the advice and treatment plan of a Medical Practitioner in relation to the Sickness or Injury; and
Not capable of working more than 80% of the Life Insured’s usual average working hours in the 12 months immediately before the start of the Waiting Period. The usual average working hours immediately before the start of the Waiting Period will be limited to 40 hours a week (if the Life Insured is working more than 40 hours a week)

Recurrent Claim Benefit

If you become Totally Unable to Work or Partially Unable to Work because of the same or related cause of claim within 12 months from the date the claim was last paid to, we will recommence payments without a further Waiting Period.

Inflation Protection Benefit

Automatically increases the Insured Benefit Amount on the Policy anniversary date by the Indexation Factor to help keep pace with inflation. Your premiums will also increase as a result of the Benefit Amount increasing. You can opt out of this benefit by contacting us.

Bed Confinement Benefit

Pays a benefit if you are Totally Unable to Work and Bed Confined for at least 72 consecutive hours during the Waiting Period.

Waiver of Premium Benefit

Waives your Income Protection premiums when the Totally Unable to Work Benefit or Partially Unable to Work Benefit is payable.

Death Benefit

If the Life Insured dies, we will pay $10,000. If you receive any death benefits from other income protection cover with TAL, these amounts will reduce the death benefit paid under this Policy.

This benefit will not be paid if the death arises directly or indirectly as a result of an intentional, self-inflicted act by the Life Insured:

within 13 months after the Plan start date;
within 13 months after the date of any increases applied for, but only in respect of the increase amount; or
within 13 months after the most recent date we agreed to reinstate the Plan or Policy.

Premium Pause Benefit

Suspend your Income Protection Plan for up to 12 months if you become Unemployed or are on Long Term Leave.

Elective Surgery Benefit

Allows you to make a claim if you are Totally Unable to Work because of undergoing an elective surgery. This benefit is not available within six months of the Plan start date, the date your policy was reinstated or the date of any increase you applied for (but only in respect of the increased portion).

Blood Borne Diseases Benefit

If you are a healthcare professional and you contract a blood borne disease such as HIV, Hepatitis B or Hepatitis C and it prevents you from performing Exposure Prone Procedures or you suffer a reduction in income as a result of this, we may assess you to be disabled even if you are physically able to work. The SIS definition of Temporary Incapacity or Permanent Incapacity must be satisfied if Income Protection is structured through superannuation.

Totally Unable to Work Benefit

Pays a benefit after the end of the Waiting Period and monthly in arrears if you are Totally Unable to Work because of a Sickness or Injury.

What does Totally Unable to Work mean? Totally Unable to Work means that solely because of Sickness or Injury, the Life Insured is:

not working in any capacity (this includes fulltime, part-time and casual, whether or not for remuneration);
following the advice and treatment plan of a Medical Practitioner in relation to the Sickness or Injury, and
unable to perform all the duties necessary to generate income in the Life Insured’s Own Occupation (if the Life Insured is able to perform any duties necessary to generate income in their Own Occupation*, they are not Totally Unable to Work).

* If the ‘to age 65’ Benefit Period applies, following the first 24 months of the Claim Period, Own Occupation will be replaced with Any Occupation.

Partial Disability Benefit

Working (whether or not for remuneration) in a reduced capacity or capable of working in a reduced capacity;
Following the advice and treatment plan of a Medical Practitioner in relation to the Sickness or Injury; and
Not capable of working more than 80% of the Life Insured’s usual average working hours in the 12 months immediately before the start of the Waiting Period. The usual average working hours immediately before the start of the Waiting Period will be limited to 40 hours a week (if the Life Insured is working more than 40 hours a week)

Recurrent Claim Benefit

Inflation Protection Benefit

Bed Confinement Benefit

Pays a benefit if you are Totally Unable to Work and Bed Confined for at least 72 consecutive hours during the Waiting Period.

Waiver of Premium Benefit

Waives your Income Protection premiums when the Totally Unable to Work Benefit or Partially Unable to Work Benefit is payable.

Death Benefit

If the Life Insured dies, we will pay $10,000. If you receive any death benefits from other income protection cover with TAL, these amounts will reduce the death benefit paid under this Policy.

This benefit will not be paid if the death arises directly or indirectly as a result of an intentional, self-inflicted act by the Life Insured:

within 13 months after the Plan start date;
within 13 months after the date of any increases applied for, but only in respect of the increase amount; or
within 13 months after the most recent date we agreed to reinstate the Plan or Policy.

Premium Pause Benefit

Suspend your Income Protection Plan for up to 12 months if you become Unemployed or are on Long Term Leave.

Elective Surgery Benefit

Blood Borne Diseases Benefit

Download the PDS

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Why choose TAL as your Life Insurance provider?

TAL is a leading Life Insurance specialist

Trusted by over 5 million customers

$4.2 billion in claims paid in 2023/24 FY

24/7 access to a dedicated Grief Support service

How to apply

Apply for Income Protection with TAL.

Are you eligible for Income Protection Insurance?

To be eligible for TAL Income Protection Insurance, you must be:

Between 18-59 years old (people in certain occupations may be age limited to 54 years old).
A citizen or permanent resident of Australia or a New Zealand citizen residing permanently in Australia.

You can be either employed or self-employed, but your work must be for more than 20 to 30 hours per week depending on your occupation.

How to apply for Income Protection Insurance with TAL

1. Use TAL’s Cover Builder to get a quote and speak to one of our friendly advisers to answer any questions you might have.

2. Review your quote and the Product Disclosure Statement very carefully to make sure it suits what you need.

3. Pay for your cover and make sure you know where all your documents are in case you ever need to make a claim.

GET A QUOTE

Income Protection FAQs

How much cover can I apply for?

Your policy can cover up to 70% of your monthly income. You can get a quote for up to $20,000 per month Income Protection cover online. Cover available for ages 19 – 60 (age next birthday) subject to your occupation. For cover up to a maximum benefit of $30,000 please call us on 131 825 or speak to your Financial Adviser.

What is the difference between Life insurance and Income Protection Insurance?

Life insurance will pay out a lump sum in case of your death or diagnosis with a terminal illness. This lump sum will typically go to one or more beneficiaries who tend to be your spouse or children. Income protection insurance will provide monthly payments in case you are unable to work due to illness or injury, keeping you financially covered while you get back on your feet.

What is the difference between Income Protection Focus and Income Protection Extend?

Income Protection Focus covers up to 70% of your income with the choice of a one, two, or five-year benefit period. During your chosen benefit period, the Totally Unable to Work Benefit is payable if you cannot work in your Own Occupation. Your “Own Occupation” means the occupation you were working in immediately before the sickness or injury that caused your disability.

Income Protection Extend covers up to 70% of your income until the age of 65. The claim criteria to be eligible for the Totally Unable to Work Benefit changes if the claim duration exceeds 24 months:

In the first 24 months on claim a benefit is payable if you are Totally Unable to Work in your Own Occupation.
After 24 months on claim, stricter claims criteria apply. The Totally Unable to Work Benefit is only payable if you are Totally Unable to Work in Any Occupation. The Any Occupation assessment is based on your ability to work in a reasonable alternate occupation, after considering your education, training and experience. If you are capable of working in Any Occupation, you will not be entitled to the Totally Unable to Work Benefit but may be eligible for the Partially Unable to Work Benefit.

See examples above or refer to the Income Protection Insurance key facts. Please refer to the PDS or contact us for further information.

What is the difference between Any and Own Occupation?

Own Occupation means the occupation or business in which you were working immediately before the start of the Waiting Period. If you were Unemployed or on Long Term Leave for more than 12 consecutive months immediately before the start of the Waiting Period, ‘Own Occupation’ will be replaced with ‘Any Occupation’; or Unemployed or on Long Term Leave for less than 12 consecutive months immediately before the start of the Waiting Period, ‘Own Occupation’ means the most recent occupation in which you were working prior to the start of the Waiting Period.

Any Occupation means an occupation that you are suited for after considering your work experience, training, education and transferable skills regardless of whether the work or employment is available. An occupation that you are reasonably suited for includes suitable alternate occupations where upskilling is required, and the training course/program can be completed within 12 months on a full-time basis or 24 months on a part-time basis.

What does Waiting Period mean?

A Waiting Period is the length of time you need to wait between the Date of Disablement (i.e. when you suffered the illness or injury that means you are no longer able to work) and when you will receive income protection benefits. With TAL, you can choose a Waiting Period of 4, 8 or 13 weeks. The length of your Waiting Period is likely to affect your premiums.

What does underwriting mean?

When you apply for insurance, your insurer will assess what conditions or pricing should be applied to your policy. This decision will be made based on medical or lifestyle information that you provide and the risks associated for the insurer. Underwriting will ultimately determine how much you will pay in premiums and in some cases whether insurance cover is possible at all.

Will my health and lifestyle be assessed?

Before you are covered by TAL, you will need to disclose any health or lifestyle information that could affect the terms for your insurance. This includes disclosing any pre-existing medical conditions, and information around your employment including what your workplace is like and the level of risk you are exposed to. This disclosure will help to determine your premiums and any exclusions that may apply to your policy.

What does Benefit Period mean?

The Benefit Period is how long you will receive regular monthly payments if you claim on your insurance. With TAL, you can choose a Benefit Period of 1, 2, 5 years or up to age 65, meaning you will receive regular income on a monthly basis over this time.

Can you get Income Protection if you are self-employed?

You can be covered by income protection as long as you are working in paid employment for a minimum of 20 to 30 hours per week depending on your occupation—whether you are employed by someone else or self-employed. In fact, Income Protection Insurance can be very valuable if you are self-employed, particularly since you will not be eligible for sick leave from an employer.

Why is there a waiting period for Income Protection?

Many types of insurance come with a waiting period. This is to ensure that individuals do not take out insurance to cover a pre-existing condition, make the most of their benefit payments and then cancel their cover. This kind of behaviour results in higher premiums for all insurance customers. TAL’s policies offer flexibility so that you can choose a waiting period that suits you.

Do you pay tax on Income Protection payouts?

Income Protection payouts are subject to tax. The first step is to check whether tax has been withheld on your Income Protection monthly payout. Usually if you have received the funds directly from your insurer then the tax will not have been automatically withheld. If tax has not been withheld, then you need to declare any Income Protection payments to the ATO when you complete your annual tax return.

Is Income Protection insurance tax deductible?

The premiums you pay on Income Protection insurance are usually tax deductible, since they relate to your income. However, premiums on other types of insurance are often not tax deductible. So, if your Income Protection insurance is part of a bundle with other insurance types—like life or trauma insurance—then you will only be able to claim a deduction on the part of the premium that covers Income Protection.

Is Income Protection worth it?

Income Protection Insurance provides valuable peace of mind, removing the financial pressure if you’re unable to work due to illness or injury. It is particularly useful if you or your loved ones depend on your monthly income to keep up with household expenses or a home loan. It can also be a suitable option for those who are self-employed and therefore not eligible for employer-funded sick leave.

How to claim Income Protection?

If you would like to make a claim, please get in touch with a dedicated claims consultant as soon as possible. You can contact TAL via any of the below details:

Post: GPO Box 5380, Sydney NSW 2001
Phone: 1800 101 016
Email: claims@tal.com.au

Your claims consultant will work with you to understand you and your individual needs. They’ll explain the steps to take so we can assess your claim, which will involve getting information from you and other sources about the claim event.

Articles on Income Protection

Does Income Protection Insurance Cover Redundancy?

Blog June 17, 2024

Explore differences between Income Protection & redundancy cover in Australia. Learn how Income Protection offers financial support during illness or injury. Read

TAL wins 2024 Life Insurance and Income Protection Finder Awards

Blog April 05, 2024

Learn why TAL won Life Insurance and Income Protection categories at 2024 Finder Awards. Read

What is Income Protection and how it can help you

Blog July 06, 2023

Discover the benefits of income protection insurance and why it’s important to protect your financial wellbeing. Read

Life & Income Protection Insurance tax deductions explained

Blog October 24, 2022

Find out whether your life and income protection insurance premiums are deductible for tax purposes, and whether you need to declare any payouts. Read

Income Protection Insurance

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TAL Income Protection

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Key features & benefits

Maximum benefit amount

Waiting Period

Benefit Period

Premiums could be tax deductible

Calculate the cover you might need

What is Income Protection Insurance and how does it work?

Differences between IP Focus and IP Extend

Income Protection Focus

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Income Protection Extend

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What important details do I need to know?

IP Focus

IP Extend

IP Extend

IP Focus

IP Extend

IP Extend

What other benefits does Income Protection include?

Totally Unable to Work Benefit

Partial Disability Benefit

Recurrent Claim Benefit

Inflation Protection Benefit

Bed Confinement Benefit

Waiver of Premium Benefit

Death Benefit

Premium Pause Benefit

Elective Surgery Benefit

Blood Borne Diseases Benefit

Totally Unable to Work Benefit

Partial Disability Benefit

Recurrent Claim Benefit

Inflation Protection Benefit

Bed Confinement Benefit

Waiver of Premium Benefit

Death Benefit

Premium Pause Benefit

Elective Surgery Benefit

Blood Borne Diseases Benefit

What other insurance can I include in my TAL Income Protection plan?

Life Insurance

Total and Permanent Disablement Insurance

Critical Illness Insurance

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Why choose TAL as your Life Insurance provider?

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Are you eligible for Income Protection Insurance?

How to apply for Income Protection Insurance with TAL

Income Protection FAQs

How much cover can I apply for?

What is the difference between Life insurance and Income Protection Insurance?

What is the difference between Income Protection Focus and Income Protection Extend?

What is the difference between Any and Own Occupation?

What does Waiting Period mean?

What does underwriting mean?

Will my health and lifestyle be assessed?

What does Benefit Period mean?

Can you get Income Protection if you are self-employed?

Why is there a waiting period for Income Protection?

Do you pay tax on Income Protection payouts?

Is Income Protection insurance tax deductible?

Is Income Protection worth it?

How to claim Income Protection?

See how a claim payment could benefit you

Useful links

Claims

Health Sense

How life insurance can help you

Articles on Income Protection

Does Income Protection Insurance Cover Redundancy?

TAL wins 2024 Life Insurance and Income Protection Finder Awards

What is Income Protection and how it can help you

Life & Income Protection Insurance tax deductions explained

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