TAL and nib partner on health insurance

Posted: 28 November 2018 9:00 am

A 5% discount and up to $200 off premiums are some of the perks.

TAL announced today that it will be joining forces with nib and launching a health insurance product, which will initially be offered through a select group of financial advisers.

TAL clients will earn a 5% discount on their TAL Health Insurance product if they are referred by their advisers to the team over at nib. Additionally, customers who join TAL health insurance before 31 January 2019 may also earn up to $200 cashback on their combined hospital and extras policy.

Speaking about why TAL is entering the health insurance market, TAL COO Justin Delaney said the move would help TAL provide their customers with better value, save time and provide Australians with better health outcomes.

"Although we are known for life insurance at TAL, health has always been at the heart of everything we do. Over time, we believe that connecting health insurance and life insurance will enable us to better support Australians in preventative health and streamline our customers' cover," Delaney said in a statement.

Delaney also said that advisors can play a role in the health and wellbeing of their customers and one of these roles is helping their customers with finding the right cover.

"Many of us often don't review our cover regularly, and with this offering we have created a very simple way for advisers to help customers assess whether they have the right cover for their needs, while offering a discount when referred by their adviser," said Delaney.

Unfortunately, you can't just head over to TAL and get cover, rather you'll need to get cover through TAL's adviser partner network.

"Our current goal is to maintain focus on our adviser partners and their clients and optimise the health insurance offering for their needs. We are not currently planning to focus on other channels in the near future," TAL told finder.com.au.

TAL is not the first life insurer in Australia to join forces with a health fund. Last year, health fund GMHBA and life insurer AIA Australia joined forces to create: myOwn. The new health insurance offering provides members with access to the AIA Vitality wellbeing program, which enables them to get up to 12% off their annual premiums depending on whether they hit their health goals.

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