Life insurance for empty nesters

Life insurance for the next stage of your life.

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TAL insurance options for you and your partner’s financial future

Your kids are grown and have left home and the nest is empty, but you may still be paying off a mortgage, trying to build your retirement savings, supporting aging parents or adult children. TAL’s insurance products can help you stay financially independent as you contemplate the next stages of life.

Insurance options

Benefits of life insurance for empty nesters

Here are just a few of the life insurance benefits for empty nesters.

Protect your retirement

If you’re working hard to pay off the mortgage or build up your retirement savings, an accident or illness could derail your plans. Life insurance can help protect your financial goals.

Protect against illness and accidents

Health issues can become more top of mind as we get older. Critical illness and total and permanent disability (TPD) insurance can help you cover medical treatment and rehabilitation allowing you to focus on recovery.

Protect your partner

Life insurance offers financial support for your surviving spouse if the worst were to happen. It can help pay down the mortgage, credit cards or other debts, and help your partner with living expenses if you’re no longer able to.

Factors to consider when choosing life insurance

There are a number of factors to consider when choosing life insurance coverage.

Your financial health

How do your superannuation and savings balance stack up against your debts and expenses? Would your partner or family be supported if the unexpected happened to you? If you own your home, could your partner afford to stay in it?

Your physical health

Although 3 out of 4 Australians aged 65 or over report their health as good, very good or excellent, many people will experience an increase in health issues as they get older.

Did you know?

1 in 3 injuries leading to hospitalisation involved older Australians aged 65 and over.

Source: AIHW, Older Australians: Health – status and functioning

Frequently Asked Questions

 The cost of your premiums will depend on a number of factors:

  • your personal circumstances—such as your age, occupation and state of health and,
  • your chosen types of insurance, cover options and cover amount(s).

Premiums are not guaranteed and can change.

We can help you save on your premiums

  • TAL Health Sense and Health Sense Plus offer premium discounts on Life, TPD and Critical Illness insurance for maintaining a healthy lifestyle.
  • Plus if you choose to pay annually you’ll get 12 months cover for the price of 11.*

Get started with TAL Coverbuilder

TAL Coverbuilder lets you build your cover, your way, and select the options that best suit your needs. You can quickly and easily get a life insurance quote to give you an idea of what your premiums might be.

GET A QUOTE

 

* Any reduction in premiums will depend on a range of factors including, and not limited to, the product you hold and when you began your cover. A premium reduction will not apply to all products.

How much does life insurance cost?

 The cost of your premiums will depend on a number of factors:

  • your personal circumstances—such as your age, occupation and state of health and,
  • your chosen types of insurance, cover options and cover amount(s).

Premiums are not guaranteed and can change.

We can help you save on your premiums

  • TAL Health Sense and Health Sense Plus offer premium discounts on Life, TPD and Critical Illness insurance for maintaining a healthy lifestyle.
  • Plus if you choose to pay annually you’ll get 12 months cover for the price of 11.*

Get started with TAL Coverbuilder

TAL Coverbuilder lets you build your cover, your way, and select the options that best suit your needs. You can quickly and easily get a life insurance quote to give you an idea of what your premiums might be.

GET A QUOTE

 

* Any reduction in premiums will depend on a range of factors including, and not limited to, the product you hold and when you began your cover. A premium reduction will not apply to all products.

Can you claim life insurance before you die?

Income protection, critical illness and TPD insurance help make up for loss of income during periods of serious illness or injury where working isn’t an option. The benefit payments support your treatment, recovery, and way of life.

You may also be able to claim an early life insurance payment if you’re diagnosed with a terminal illness and meet the required evidential requirements as to terminal illness. If you have less than 12 months to live TAL can provide your full benefit amount, giving you and your family access to financial support when it’s needed most.

When should you take out life insurance?

Even after the kids have left home, empty nesters may still benefit from taking out life insurance. If you experience serious illness or injury and are unable to work it can be costly, and the loss of income could eat into your savings and impact your retirement plans.

Life, income protection and critical illness insurance can offer peace of mind and help support a comfortable retirement.

How to apply for life cover with TAL?

Applying is easy—just follow these five steps:

  1. Check if you are both eligible – Each life insurance product has its own minimum and maximum age limits and citizenship or residency requirements. You can find the eligibility details for each product on TAL’s product comparison page.

  2. Get a quote – Use TAL’s online Coverbuilder to get a quick and easy quote.

  3. Chat with us – Talk to one of our consultants who can assist you with any questions you may have about the cover.

  4. Check the details – Review your quote and the Product Disclosure Statement. Customise your policy by adding extras and tailoring your premiums.

  5. Confirm and pay – Once you’re happy, confirm and pay your first premium and we’ll send you an email with the details. You’re all covered!

IMPORTANT NOTICE
Any financial product advice is general in nature only and does not take into account your objectives, financial situation or needs. Before acting on it, the appropriateness of the advice should be considered, having regard to your own objectives, financial situation or needs. If you are deciding whether to acquire or continue to hold life insurance issued by TAL, you should consider the relevant Product Disclosure Statement (PDS) before making any decisions about your cover. The Target Market Determination (TMD) for the product (where applicable) is also available. Life insurance issued by TAL Life Limited ABN 70 050 109 450 AFSL 237848.
Terms and conditions under each insurance policy apply. The payment of a benefit is not guaranteed, as cover will only be payable if your circumstances meet the eligibility criteria in your policy.

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2024 © 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 (2023).

Any financial product advice is general in nature only and does not take into account any person’s objectives, financial situation or needs. Before acting on it, the appropriateness of the advice for any person should be considered, having regard to those factors. Persons deciding whether to acquire or continue to hold life insurance issued by TAL should consider the relevant Product Disclosure Statement (PDS). The Target Market Determination (TMD) for the product (where applicable) is also available. Life insurance issued by TAL Life Limited ABN 70 050 109 450 AFSL 237848.