TAL Critical Illness Insurance

finder outlines some important TAL Critical Illness benefits and features in this review.

The TAL Critical Illness pays you a lump sum if and when you are diagnosed with a terminal illness specified in the policy. Some of the most common medical conditions that are under this cover are cancer, heart disease, stroke or a major surgery.

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Provides a lump sum payment if you become totally and permanently disabled and are unable to return to work.
Provides a lump sum payment if you suffer a serious medical condition. Cover can be taken out for 40-60 medical conditions depending on the policy you choose.
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How does TAL Critical Illness Insurance work?

The TAL Critical Illness can be purchased as a separate policy with the TPD Cover attached as a benefit, or as an attached benefit of the TAL Life Insurance.

What's covered by TAL Critical Illness Insurance work?

TAL Critical Illness comes in two forms to better suit your needs – the TAL Critical Illness Standard and the TAL Critical Illness Premier. Both have the same benefits and features, with some additional benefits in the Premier policy. Listed below are the common benefits found in both policies:

  • Paralysis Support Benefit: doubles the lump sum payment of the Critical Illness Benefit to a maximum of $2,000,000 if you are paralysed.
  • Death Buy-back Benefit: allows you to re-purchase your Critical Illness cover after a 100% benefit has been paid to you.
  • Inflation Protection Benefit: protects your premiums against inflation by increasing your cover in line with the Consumer Price Index, or less than 5%.
  • Premium Freeze Benefit: freezes your premiums by decreasing your cover. It is made available on your 30th birthday on a stepped premium policy.
  • Guaranteed Future Insurability Benefit: allows you to increase cover without providing further medical proof in the event of a marriage, birth of a child, or an increase stake in business where you are one of the principal holders.
  • Financial Planning Benefit: reimburses you to up to $5,000 when you received financial planning advice after claiming a benefit.
  • Accommodation Benefit: pays an immediate family member up to $250 a day for 14 days when he or she needs to take care of you in the event you are confined to bed 100km away from home.
  • Child’s Critical Illness Benefit: pays you a lump sum of up to $10,000 when your child is diagnosed with critical illness listed on the policy.

Furthermore, the TAL Critical Illness Premier has additional benefits included:

  • Advancement Benefit: is an advanced payment to cover your immediate expenses.
  • Female Critical Illness: gives you an early payment equivalent to 20% of the benefit amount for conditions including pregnancy complications and congenital abnormalities.
  • Needle-stick Benefit: is ideal for those whose occupation is exposed to needle stick injuries.

Critical illness can be very life changing and it can have dire effects should you be unprepared for it. Having the TAL Critical Illness insurance gives you and your family peace of mind knowing you are covered anytime.

When can't you claim?

Your TAL Critical Illness Insurance claim will not be paid if the event giving rise to the claim is caused by an intentional, self-inflicted act by the life insured.

Additional exclusions

In addition, no cover is available if any of the conditions listed below occurred, was diagnosed or the signs or symptoms became apparent to the life insured within three months of:

  • The plan starting
  • You applying to increase cover
  • TAL agreeing to reinstate a policy

This applies to the following conditions:

Angioplasty, Coronary Artery Bypass Surgery, Cancer, Heart Attack, Heart Valve Surgery, Triple Vessel Angioplasty, Stroke, Carcinoma In Situ, Early Stage Chronic Lymphocytic Leukaemia, Early Stage Melanoma, Early Stage Prostate Cancer or Adult onset insulin dependent diabetes mellitus.

William Eve

Will is a personal finance writer for finder.com.au specialising in content on insurance. While he cannot give personal advice to clients, Will enjoys explaining the intricacies of different types of protective cover to help individuals and businesses find affordable cover that won't leave them underinsured.

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