What does life insurance cover me for?
Here are some of the events you can choose to be covered for under your TAL insurance policy.
- If you die or are diagnosed with a terminal illness: your family receives a lump-sum payment. This is called Life Insurance.
- If you’re diagnosed with a serious critical illness such as a cancer (of a specified criteria) or you suffer a heart attack (of a specified severity): you receive a lump-sum payment. This is called Critical Illness or Trauma Insurance.
- If you’re permanently disabled and unable to work: you receive a lump-sum payment. This is called Total and Permanent Disability (TPD).
- If you’re unable to work due to illness or injury: you receive a monthly benefit of up to $30,000, up to 70% of your salary*. This is called Income Protection Insurance.
This is a general guide only to the different types of life insurance and the circumstances in which a claim may be payable. You can find out exactly what you’re eligible for by reading the terms and conditions of your insurance policy, which are detailed in your policy document.
What additional features of TAL Accelerated Protection can I set up over the phone?
You will need to speak to one of our professional Life Insurance Specialists on 131 TAL about including any of the following:
- Premium Relief(For Life Insurance, TPD, Recovery Insurance) – If you add this option, you won’t need to pay your premiums if you are unable to work for at least three consecutive months due to illness or accident. Find out more
- Increasing Claims Option (For Income Protection only) – If you are receiving benefit payments, we will increase the payment in line with inflation, while you are receiving them. Find out more
- Day One Accident (For Income Protection only) – Instead of having to wait out your chosen waiting period, your payments will start accruing from the first day you’re off work due to a total disability from an injury. Find out more
I have life insurance as part of my super, is that enough?
Most Australians have some form of life insurance through their super. The default level of cover is not based on your unique current and future financial obligations, so you may want to check to see if it’s enough. It may not be possible to take up some types of cover through your super fund. You may also want to consider whether you’re able to take your insurance with you if you leave your fund.
Can I increase my insurance cover?
You may be able to increase your insurance cover. You can contact us to discuss your options with our Life Insurance Specialists. Or, depending on how you bought your cover, you can contact your financial adviser, super fund or employer to find out if you can increase your cover, and the steps to take.
I’ve changed my address or contact details – how do I let you know?
We need to send you important information from time to time so it’s important we have your up-to-date contact details. Please contact us to let us know about any change to your address, telephone number or email.
Will my payments be taxed?
Generally Life, TPD and Critical Illness and Trauma payments will not be taxed where they are held outside of superannuation. Income Protection payments will usually be tax assessable. You should contact your tax adviser or the Australian Tax for more information and advice on your particular situation.
What is Inflation Protection?
Inflation Protection is a way to help future-proof your insurance payment against the effect of inflation. Every year, as the cost of goods and services increases, your amount of cover will increase by the Consumer Price Index (CPI). This will help to ensure that your insurance cover has not been eroded by the effects of inflation. Your premiums will also rise in accordance with any increase in cover.
What is a standalone policy?
A standalone policy is not linked to any other covers. Payment of a benefit under a standalone policy will not reduce the benefit of the other covers.
Who is TAL?
As one of Australia’s leading life insurers we’ve learnt that the most important part of life isn’t the stuff we own, but the experiences we share with the people we love. It’s living life. This Australian life.
That’s why we do what we do, protect people, not things, to help you look after what matters most. From covering your children’s education, to keeping up the mortgage payments for the family home or rehabilitation to get you back on track sooner.
Together with our partners we protect 5 million Australians and their families, helping them look after what matters most, so they have the freedom to keep living the life they planned.
Find out more about who we are and our life story.
Who is Dai-ichi Life?
Dai-ichi Life is the third largest life insurer in Japan by revenue, and the owner of TAL.
How can Workers’ Compensation payments affect my insurance payouts?
If you’re receiving Income Protection payments, the amount you receive may be reduced if you’re also receiving Workers’ Compensation payments.
Can I cancel my policy if I no longer need it?
Yes, you can cancel your policy. To cancel your policy, you can speak to your financial adviser or contact us. If you are cancelling a policy because you intend to replace it with another insurance product, always consider the risks of doing so before deciding to make the change. For example, the policy terms and conditions may be different, you may need to answer questions about your health and lifestyle before the cover will be granted, qualifying periods may start again, you may lose benefits accrued on your current cover. To avoid the risk of a gap in cover, in general you should not cancel an existing insurance policy until the new insurance policy is in place.
What is myTAL?
myTAL is an online portal, which allows you to manage your cover anywhere, any time. Through myTAL, you can do the following:
- Pay your premiums
- Request a certificate of currency
- Request a statement
- Update your contact details, and
- View all of your policy details.
Am I eligible for myTAL?
All customers with a TAL Accelerated Protection policy are eligible to register for an account.
If you have an investment life policy, or any of the following policy types, you cannot register for a myTAL account at this stage:
- SMSF Owned
- TAL Superannuation Owned
- Platform Owned
- Joint Owned
- Company Owned
How do I register for myTAL?
To register for myTAL:
- Go to our registration page and enter your email address
- Click on ‘send confirmation email’
- Go to your email and click on the link within the confirmation email
- Complete the registration details
What can I do if I’m having difficulties with myTAL?
If you’re having any trouble with myTAL, just call us on 1300 209 088 (Mon-Fri, 8am-7pm AEST) and we’ll help you over the phone.
Where can I find more information on myTAL?
What happens after I submit my claim forms?
Once we’ve received your claim forms, a Claims Consultant will contact you to discuss your claim and answer any questions you have. We feel it’s important that you always speak to the same person, so we assign you a dedicated Claims Consultant to help you throughout the process.
How will I or my family receive payments?
If you have provided your Australian bank account details to us, we'll make the payment into this account. Otherwise we will send you a cheque.
In some instances, for example where your cover is purchased through you super fund, we may make the payment to the fund.
What is a qualifying period for Total Permanent Disability (TPD)?
What is the Waiting Period for Income Protection?
We make your first payment one month after the waiting period ends. For example, let’s say you chose a 4 week waiting period. If you were injured and stopped work on 1st April, your waiting period would start on 1st April and end 28 days later on 28th April.
You would then qualify for your payments from the 29th April. And your first payment would be paid one month later, on the 28th May.
My Income Protection claim has been approved. When will I start receiving payments?
Can I earn other income while I’m receiving Income Protection payments?
If you qualify to receive Total Disability payments and you return to work on a partial basis earning less than you were before your claim, you may be eligible for a Partial Disability Benefit. This allows you to receive some Income Protection payments on top of the partial income you’re able to earn.
We use a formula which is set out in your policy to calculate your Partial Disability Benefit. Your Claims Consultant will use your payslip (or other proof of income) to understand what your regular income is. They will also show you how your benefits reduce as you receive income from sources such as Workers’ Compensation, Centrelink, other insurance policies and, in some cases, sick leave.
You must let your Claims Consultant know if you return to work, or are receiving income from other sources, so we can make sure you receive the correct payments.
What can I do if I don’t agree with TAL’s decision about my claim?
We have processes in place to ensure that all our claims decisions are fair and consistent. If you disagree with the decision we've made about your claim, you can request a review. You can also make a complaint to us.
We will aim to provide you with a complaint outcome within 30 days for standard non-superannuation related complaints or 45 days for products/services involving superannuation trustees. If we are unable to resolve your complaint within that period, we will inform you of the reasons for the delay and let you know when we expect to provide a response to your complaint.
If an issue has not been resolved to your satisfaction you can lodge a complaint with the Australian Financial Complaints Authority (AFCA). AFCA provides fair and independent financial services complaint resolution that is free to consumers.
Telephone: 1800 931 678 (free call)
In writing to: Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC 3001
Time limits may apply to complaints to AFCA. You may wish to consult the AFCA website or contact AFCA directly to find out if there is a time limit on lodging a complaint with AFCA.
Can I request that the decision is reviewed?
Yes, if you disagree with the decision we've made about your claim, you can request a review. You can also make a complaint to us.
Can I get a copy of the documents in my TAL claim file?
If you’ve made a claim, you can generally access copies of the documents and information we have relied on to make a decision in relation to your claim. There are some limited exceptions under privacy legislation. In some circumstances we may need to provide the information to your doctor instead of providing it directly to you. We will let you know if this is the case.
How can I request information from my TAL claim file?
We take the protection of your personal and sensitive information very seriously. So, we ask that you make your request in writing to help us to identify you. All requests for information from your claim file should be addressed to:
The Privacy Officer
TAL Life Limited
GPO Box 5380
Sydney NSW 2001
Let us know which information you’re looking for, the name of the person it should be sent to, as well as their full contact details. It’s also useful if you can provide your policy number(s) with your request. We will aim to provide the information that you have requested within 30 days.
Can I provide feedback to you about my claims experience?
Yes, we appreciate any feedback about the way we do things. If you’ve had a positive experience with our claims team or have some ideas on how we can improve our claims processes or service, you can email us or send your suggestions to:
TAL Life Limited
GPO Box 5380
Sydney NSW 2001
If my partner is the beneficiary of my life insurance and we both pass away, what happens to my benefit amount?
If you have no living beneficiary attached to your policy, your life insurance payment will be paid to your estate.
Do I need to update the insurer if my health or occupation changes?
You do not need to update us if there are changes to your health or occupation once you have been accepted for the insurance. We will assess your situation at the point of application and your insurance will be based on your circumstances at that time. Your insurance cannot be cancelled by the insurer if your situation changes.
However, if your circumstances change for the better, for example because you have moved to a lower risk occupation or you have quit smoking, you could be entitled to a lower premium. In this case, you can request an alteration of policy based on the change in circumstances.
For example: John was a carpenter when he first took out insurance, however after a number of years he has transitioned to an office-based role within the construction industry.
John is now eligible to alter his policy, which could decrease his premium as he has moved from a manual role to an office-based role.
If I make a claim do my premiums increase?
You will never be singled out for a premium increase because you've made a claim. Your premiums will increase as usual according to the factors set out in the PDS, such as increases due to your age, general rate rises and increases due to indexation.
Do I need to continue to pay my premiums if I was to go on claim?
If you’re receiving payments for Income Protection, you will no longer pay these premiums while you are claiming a benefit. However, if you have other insurance policies (Life, Total Permanent Disability, Recovery Insurance), you will still pay these premiums unless you have selected the Premium Relief Option.
What happens to my insurance benefit through super if I do not make a binding nomination?
If you do not make a binding beneficiary nomination , the super trustee will decide who gets your benefits when you die. Usually benefits are paid to dependents, after taking your wishes into consideration.
See 'What is the difference between a non-binding and a binding nomination?'
What is the difference between a non-binding nomination and a binding nomination?
If you’re holding your insurance within your super, you’ll be asked to nominate a beneficiary – the details of the person (or people) who will receive the life insurance money if you pass away. You have the choice to make a binding or a non-binding nomination.
Binding nomination – This is a legally binding statement which the trustee will use to know who your money should go to if you pass away.
Non-binding nomination – This is not legally binding. The trustee will take your non-binding into consideration when making the life insurance payment on your behalf, in addition to other aspects of the law.
Can I hold Critical Illness and Trauma Insurance through my super?
It is not possible to set up Critical Illness and Trauma Insurance through your super. This is a legislative requirement aimed at ensuring your benefits do not get held within the superannuation system when you need to access them, so it applies to all insurance providers.
What if the condition I claimed for is excluded from the policy?
If the condition you claim for is excluded from the policy, then we will not be able to pay your claim.
What happens to my policy if I was to move overseas?
TAL provides you with worldwide cover. If you’re travelling abroad, or you move abroad, you will continue to be covered by the terms you set up when you bought the policy.
However, if you have Income Protection Cover, please note that some terms of the cover may be affected if you are overseas when you need to make a claim.
How can I make a complaint and how does TAL manage complaints?
For information on how to make a complaint, please view the TAL Complaints Management Process and TAL Complaints Policy.
What if I have an unresolved complaint related to privacy?
You can also contact:
GPO Box 5218
Sydney NSW 2001
Phone: 1300 363 992
How can I opt out of telemarketing calls?
You can opt out of telephone marketing by contacting us on 1300 209 088 or via our online form.
Investments and Super
How can I make extra contributions to my super or investment policy?
How can I claim or rollover my TAL investment benefits?
What is an Income Protection Summary?
When will my IP summary become available?
Am I eligible to register for myTAL?
You may be able to register for myTAL if:
- Your policy has only one Policy Owner
- The Policy Owner is also the Life Insured
- The Policy Owner is an individual, rather than entity or company
- For SMSF policies, there is only one life insured
How can I access my IP Summary?
We’ll email your Income Protection summary to you if you have previously provided us with your email address. Otherwise, we’ll send it via post.
A copy of your Income Protection summary should also be available for quick download in myTAL from the 28 July 2023. Check if you are eligible to register for myTAL.
My policy is eligible to register for myTAL. How do I register?
To register for myTAL:
1. Go to the myTAL login page and select 'Register Now'.
2. Enter your policy details and select 'Submit'.
3. You will receive an email containing a verification link. By clicking the link you will verify your email address and be taken to the 'Create Password' form.
4. Complete the password form to view your policy details.
When registering, please enter your full name and date of birth exactly as they appear on your Policy Schedule.
Will I receive a payment summary for my Life Insurance, TPD or Recovery Insurance policies?
I’ve registered for myTAL. How do I download another copy of my IP Summary online?
A copy of your Income Protection summary is expected to be available for quick download from the 28 July 2023. To access yours follow the steps below:
- Login to MyTAL
- Select ‘Statements’ on the left-hand menu
- Select a policy from the policy drop down box
- Select the statement from the statement from down box
- Click on the statement you would like to download
- If you do not see the statement you would like to download click on the ‘Show More’ link’
- Select the financial year you would like to request a statement for, enter your email address and click the button ‘Request PDF Tax Statement(s)’
Will my financial adviser get a copy of my IP summary
I haven’t yet received my IP Summary. Who do I contact about this?
There are a few reasons you may not have received an IP summary including:
- Your Income Protection cover is funded through Superannuation
- You did not pay any premiums during the 2022-2023 Financial Year
- You made an Income Protection claim during the 2022-2023 financial year – and we expect to send your IP Summary by mid August 2023.
You may choose to check with your financial adviser to understand whether any of the above applies to you.
I made a claim in the 2022-2023 financial year and haven’t received my IP summary? How do I organise one for my policy?
Customers who have made a claim within the financial year will have their IP Summary issued by mid August 2023. You do not have to do anything.