TAL Lifetime Protection Life Insurance

Find out how to you can get flexible life cover with TAL Lifetime Protection Life Insurance.

TAL Lifetime Protection Life Insurance offers up to $1.5 million in cover to your beneficiaries in the event where you pass away. This policy offers a wide range of cover options to suit your personal life insurance needs. Continue reading to find out if it's right for you.

Get a quote for TAL Lifetime Protection Life Insurance securely online

Maximum cover amount $1,500,000
Age of entry
  • 18 - 74
  • 18 - 59 (for level premiums)
How do I apply?Online with the insurer
Is cover available through super?
  • Yes
ProsCons
  • No medical tests
  • Standard premium rates may be changed
  • Flexibility to structure your cover for specific circumstances
  • Policy fees may apply on top of the premium
  • Pause your premiums during financial hardship for up to 3 months

Note: Conditions apply, always consult the Product Disclosure Statement (PDS)

What features are offered?

  • Choose your cover. You can choose whether you want your TAL Lifetime Protection Life Insurance policy to include Accident Cover, Illness Cover, Adventure Sports Cover or all three. Accident Cover pays a lump sum if you die as a result of an accident, Illness Cover pays a lump sum if you pass away due to illness, and Adventure Sports Cover provides a lump sum if you die as a result of an accident while participating in an adventure sport.
  • Death Benefit. TAL Lifetime Protection Life Insurance pays a lump sum benefit when the life insured passes away. You can choose the level of cover you want up to a maximum of $1.5 million, and the benefit can be used to provide financial assistance to your loved ones when you’re no longer around to support them.
  • Terminal Illness Benefit. A maximum lump sum benefit of up to $1.5 million is also payable when you are diagnosed with a terminal illness.
  • Inflation Protection. If you would like your level of cover to increase each year in line with the cost of living, you can choose the Inflation Protection option. Inflation Protection is included as standard with all TAL Lifetime Protection policies, and the indexation rate is the greater of the Consumer Price Index and 5%.
  • Funeral Advancement Benefit. Once TAL has received a death certificate for a life insured, it will make an early payment of 10% of your Death Benefit amount, up to a maximum of $25,000. This payment can be used by your loved ones to cover the cost of your funeral and any other immediate expenses that arise following your death.
  • Cover Pause. If you experience a period of financial hardship, TAL allows you to pause cover under your Life Insurance policy for up to three months. This allows you to take a break from your premium payments for a little while until you get your finances back on track, and cover resumes at the end of the Cover Pause period without the need to undergo any health or lifestyle assessments.
  • Future Life Events. You can increase your level of cover without having to provide evidence of your health or pastimes when specific life events occur, such as getting married or taking out a mortgage. The cumulative increases you apply for must not exceed $1 million or the original benefit amount.

What options can be added?

  • Premium Relief Option. If you apply for the Premium Relief Option, TAL will waive your Life Insurance premiums if you are unable to work for at least three consecutive months due to an accident or illness. Available as an extra-cost option to policy applicants aged between 18 and 61, Premium Relief helps you maintain cover even if you are unable to earn an income. This option expires on the policy anniversary prior to your 65th birthday.

How much will it cost?

There are several factors that affect the cost of your TAL Lifetime Protection Life Insurance policy, including:

  • The level of cover. The higher your level of cover, the more you will pay for your premium.
  • The options. Adding the Premium Relief Option to your policy will increase the cost of cover.
  • The premium structure. You can choose between stepped and level premiums for your policy. Level premiums start out higher but generally remain the same each year, while stepped premiums increase each year as you age.
  • Your age. The older you are, the higher your risk of illness. You can therefore expect to pay higher premiums.
  • Your gender. Life insurance premiums tend to be higher for men than for women.
  • Your health. Your overall health (at the time of application) has a bearing on the likelihood that you will need to make a claim and will therefore affect the cost of cover.
  • Your smoking status. Smokers pay significantly more for life insurance cover than non-smokers.
  • Your occupation and pastimes. If your job or your pastimes expose you to a higher risk of serious injury, this may be reflected in the cost of premiums.

When will a benefit be paid?

  • The Death Benefit will be paid when the life insured passes away.
  • The Terminal Illness Benefit will be paid when the life insured is diagnosed with a terminal illness and they will not survive more than 12 months (or 24 months for policies under Super).
  • The Funeral Advancement Benefit will be paid when TAL receives and assesses a death certificate in respect of the life insured.

When won’t a benefit be paid?

TAL Lifetime Protection Life Insurance will not pay a benefit if the event that leads to your claim occurs while you are visiting a country for which the Department of Foreign Affairs and Trade has issued a “Do Not Travel” warning.

In addition, the exclusions that apply to your policy will depend on the type of cover you select. For example, if you select Accident Cover only, no claim will be payable for death that results from:

  • Illness
  • Suicide
  • Participating in an adventure sport

If you select Illness Cover only, no claim will be payable for:

  • Accidental death
  • Death as a result of participating in an adventure sport
  • Death as a result of suicide in the first 13 months of cover commencing

Receive a quote for TAL Lifetime Protection Cover

Maurice Thach

An insurance-savvy writer for finder.com.au who loves finding an answer to the question "Am I covered for ________?"

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