TAL Life Insurance Review

With TAL life insurance, you can get a comparatively high funeral benefit of $25,000 and there's no maximum cover limit. TAL lets you add total & permanent disability, trauma or child cover to your policy if you wish - most of the 19 brands we reviewed don’t offer all 3 add-ons.

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Our verdict

  • Award-winning provider for customer satisfaction
  • Highly commended for quality of cover - 2023 Finder Awards
  • Choice of getting cover with an adviser or directly with TAL
  • Wide range of cover types offered, which can be bundled to suit your needs
  • Premium rates can be changed at any time (applicable to all policies)
  • Policy fee applies on top of premium

Maximum Cover

No set limit

Maximum Age

74

Total & Permanent Disability Cover

Trauma Cover

Compare key features of TAL life insurance and get a quote today

Name Finder Score Maximum Cover Funeral Benefit Optional TPD Cover Optional Trauma Cover
TAL Accelerated Protection Life Insurance image
Finder Award
Finder score
Maximum Cover
No set limit
Funeral Benefit
$25,000
Optional TPD Cover
$3 million
(maximum cover)
Optional Trauma Cover
Get QuoteView details
Our verdict: One of Australia's leading life insurers. Automatically includes child critical illness cover. Plus, it comes with a level premium option (e.g. costs remain similar as you get older).

⭐ Current offer: Get up to 15% off your TAL Life, Trauma or TPD insurance policy for life - if you have a Body Mass Index (BMI) between 19 and 28 at the time of your application. Offer T&Cs on insurer website apply.
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Get the latest deal from TAL Life Insurance

Deal

Up to 15% off your TAL Life, Critical Illness or TPD insurance policy

Applicable for the life of your policy if you have a Body Mass Index (BMI) between 19 and 28 at the time of your application. T&C’s apply.
Deal

Get 12 months income protection for the price of 11

New members will get a one month free when paying annually. T&Cs apply.

"As part of their life insurace plan TAL offer a benefit of up to $10,000 in the event one of your children are diagnosed with a critical illness. They are the only provider we have compared to offer this inclusion making it a great option for extra coverage for those with kids."

Why compare life insurance with Finder?

  • You pay the same price as buying directly from the life insurer.

  • We're not owned by an insurer (unlike other comparison sites).

  • We've done 100+ hours of policy research to help you understand what you're comparing.

Finder Score - Life Insurance

Life Insurance is a little complicated and a lot overwhelming. That's why we made the Finder Score, to make it easier to compare Life Insurance products against each other. Our experts analysed over 20 products and gave each one a score between 1 and 10.

But a higher score doesn't always mean a product is better for you. Your situation is unique, so your policy choice will be too. Don't think of Finder Score as the final word, but as a good place to start your life insurance comparison.

Read full Finder Score methodology

What products are offered by TAL?

TAL offers 3 core types of life insurance products to its customers: life insurance, critical illness insurance and total and permanent disability insurance. Its policies fall under TAL Accelerated Protection and can be bought through an adviser or directly through TAL.

TAL also lets you tailor your policy to suit your needs by either choosing a standalone policy, choosing one or more policies and then adding benefits and linking to other plans, or choosing to structure your life insurance through a superannuation plan.

Read a more detailed review on:

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Life insurance

Accelerated Protection life insurance will pay out a lump sum in the event of the policyholder's death or the diagnosis of a terminal illness. The main purpose of this type of cover is to help provide for your family after your death and to take care of your family's finances so they can focus on dealing with their loss.

TAL Accelerated Protection life insurance includes the following features and benefits:

  • Death benefit: This is a lump-sum payment of the nominated benefit amount if the life insured dies.
  • Terminal illness benefit. The nominated benefit amount can be paid out early if the policyholder is terminally ill and not expected to live longer than 12 months.
  • Advanced payment benefit: 10% of the benefit amount (up to a maximum of $25,000) can be paid in advance to help your family deal with day-to-day finances.
  • Repatriation benefit: The advanced payment limit is increased to $35,000 if the policyholder dies overseas.
  • Inflation protection benefit: Your cover automatically increases every year in line with the Consumer Price Index.
  • Premium freeze benefit: Your premiums stay the same by reducing your cover each year. This is available on stepped premium policies only and only after the policyholder's 30th birthday.
  • Guaranteed future insurability benefit: This means you'll be able to increase your cover after significant life events (for example, getting married or having a baby) without having to provide additional health information.
  • Other benefits: These include a financial planning benefit, a grief counselling benefit and a child's critical illness benefit.

TAL also offers the following optional benefits:

  • Premium relief option: This option lets you waive your premiums if sickness or injury means you are unable to work for at least 3 months.
  • Business insurance option: This option lets you increase your insurance without providing additional health information after a valid business event, such as an increase in your share of business ownership or an increase in the level of a business loan for which you are a guarantor.

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Critical illness insurance

TAL Accelerated Protection critical illness insurance pays out a lump sum if you are diagnosed with a specified medical condition like cancer or have a heart attack or stroke. The benefit will be paid even if you're still able to work. There are 2 types of plans available: Standard and Premier.

Some of the key benefits of the Premier plan include the following:

  • Advancement benefit: This benefit provides cover for immediate expenses if a certain event happens – for example, if you lose hearing in one ear or are diagnosed with partial Alzheimer's disease.
  • Female critical illness benefit: This benefit will be paid for conditions like pregnancy complications and congenital abnormalities.
  • Needlestick benefit: This benefit is available if you work in certain occupations and suffer occupationally-acquired hepatitis B or C.

Benefits featured in both the Standard and Premier critical illness insurance plans include the following:

  • Critical illness benefit: This benefit is a lump-sum payment of up to $2,000,000 for a range of conditions, such as heart attack, stroke, dementia, blindness, cancer and kidney failure.
  • Paralysis support benefit: The lump-sum payment is doubled to a maximum of $2,000,000 if the policyholder becomes paralysed.
  • Death buy-back benefit: You can repurchase your life insurance after the payment of 100% of the critical illness benefit, paralysis support benefit or TPD benefit (if applicable). This benefit only applies if critical illness insurance or TPD insurance (if applicable) is attached or linked to life insurance.

Optional benefits on critical illness insurance plans include the following:

  • Critical illness reinstatement benefit: This lets you repurchase your critical illness insurance after you've been paid a critical illness benefit, advancement benefit, needlestick benefit or female critical illness benefit.
  • Double critical illness option: When critical illness insurance is attached to life insurance, this benefit means that payment of the critical illness benefit will not reduce your life insurance and future premiums will be waived.
  • Premium relief option: This option lets you waive your premiums if sickness or injury means you are unable to work for at least 3 months.
  • Business insurance option: This option lets you increase your critical illness insurance without medical underwriting after a valid business event, such as an increase in your share of business ownership or an increase in the level of a business loan for which you are a guarantor.

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TPD insurance

TAL Accelerated Protection TPD insurance pays a lump-sum benefit if you are totally and permanently disabled. The benefits of this type of insurance include the following:

  • TPD benefit: A lump-sum payment of up to $3,000,000 if you become totally and permanently disabled.
  • Accommodation benefit: TAL will reimburse the cost of accommodation for your immediate family member of up to $250 per day if the policyholder is confined to bed more than 100km away from home.

TAL's TPD insurance policies also feature the following optional benefits:

  • Death buy-back option: You can repurchase your life insurance after the payment of 100% of TPD insurance. This is only available when TPD insurance is linked to life insurance.
  • Double TPD option: Available when TPD insurance is attached to life insurance, this benefit means that payment of the TPD benefit will not reduce your life insurance and future premiums will be waived.
  • Premium relief option: This option lets you waive your premiums if sickness or injury means you are unable to work for at least 3 months.
  • Business insurance option: This option lets you increase your critical illness insurance without medical underwriting after a valid business event, such as an increase in your share of business ownership or an increase in the level of a business loan for which you are a guarantor.
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Age eligibility

Accelerated Protection PlanEntry age
Life coverBetween 19 and 74
Income protection coverBetween 19 and 59
TPDBetween 19 and 62
Critical illness insuranceBetween 19 and 62

You must also be an Australian resident to apply.

See how TAL's claim acceptance rate stacks up against other life insurers

This is the percentage of claims a life insurer pays out. It's based on data from Australian Prudential Regulation Authority (APRA) covering the 12-month period from 1 July 2022 to 30 June 2023.

What are some of the key exclusions of TAL?

This will depend on the policy – below are some of the exclusions you will find. Note: this is not an exhaustive list and we'd recommend you read each policy's product disclosure statement (PDS) so that you know what you'll be insured for.

Exclusions under the Accelerated Protection plan

A number of general exclusions apply to each Accelerated Protection policy from TAL. Your Critical Protection life insurance claim will not be paid if the claim is caused by an intentional self-inflicted act by the life insured within the following time frames:

  • Within 13 months of the policy start date
  • Within 13 months of cover being increased (but only in respect to that increase)
  • Within 13 months of the policy being reinstated

No Accelerated Protection critical illness insurance claim will be paid in the following situations:

  • It is caused by an intentional self-inflicted act by the life insured
  • The condition was diagnosed or became apparent within 3 months of the policy starting or of cover being increased or reinstated (this exclusion does not apply to all critical illness events)
  • The life insured does not survive for at least 14 days following the critical illness event

Your claim under Accelerated Protection TPD insurance will not be paid in the following situations:

  • It is caused by an intentional self-inflicted act by the life insured

Other specific exclusions apply to income protection, so read the Accelerated Protection PDS for more information.

Frequently asked questions about TAL life insurance

Compare other products from TAL

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Editor

James Martin was the insurance editor at Finder. He has written on a range of insurance and finance topics for over 7 years. James often shares his insurance expertise as a media spokesperson and has appeared on Prime 7 News, WIN News, Insurance News, 7NEWS and The Guardian. He holds a Tier 1 General Insurance (General Advice) certification and a Tier 1 Generic Knowledge certification, both of which meet the requirements of ASIC Regulatory Guide 146 (RG146). See full bio

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James has written 212 Finder guides across topics including:
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2 Responses

    Default Gravatar
    RebeccaMay 28, 2024

    If we took out life insurance to include kids on it…when the kids turn 18 can they can opt to continue with their own insurance…what happens if they have acquired some condition along the way before they turn 18…would it be covered or considered a pre existing when they choose to rollover to adult insurance?

      AvatarFinder
      AngusSeptember 23, 2024Finder

      Hi Rebecca, Life insurance generally applies to a specified individual – your kids might be beneficiaries of the policy, but their own health isn’t relevant to it. Once they turn 18 they might choose to apply for life insurance of their own. At that point any pre-existing conditions would be relevant – we have a detailed guide to pre-existing conditions and life insurance where you can learn more. Hope this helps.

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