TAL award-winning life insurance

By Tara McCabe ·
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After 150 years in the business, life insurance provider TAL knows that the most important things in life are the people we share it with. That's why TAL has set about creating a top-notch life insurance policy and it seems to have paid off! Indeed, after 30 years operating in Australia, TAL has just been awarded a 2021 Mozo Experts Choice Award for Exceptional Quality Life Insurance.

The Mozo Experts Choice Awards have been going strong since 2014 and this is the fourth year in a row that our expert judges have analysed life insurance policies in Australia. For these particular awards our research team collected pricing and data from 26 different life insurance providers.

The Exceptional Quality award-winners were chosen based on each policy's additional benefits, range of features and the flexibility offered. These particular awards do not take price into account.

"Some features that really made TAL's insurance policy stand out for us were the ability to pause cover when needed, the maximum age of cover up to 99 years old and the fact that you can apply for as much as $2 million worth of cover," said Expert Choice Judge, Peter Marshall.

Marshall says these as well as a number of other features (more on this below) make TAL's Life Insurance policy well worth considering.

About TAL

TAL's timeline goes back as far as 1869, when it started off its journey in New Zealand as the Government Life Insurance Office. It became a separate body in 1953 and was renamed TOWER in 1987. Then in 1990 TOWER travelled across the pond to Australia.

Now over 30 years later, TAL has separated from its NZ founding company and become a subsidiary of Dai-Ichi Life Group. It became TAL in 2011, fully confirming its place in the Australian landscape and its wish to insure 'This Australian Life.'

Today TAL provides insurance for 4.5 million Australians and offers life insurance, total permanent disability insurance, recovery insurance and income protection insurance.

TAL's award-winning Life Insurance policy

A 2021 Mozo Experts Choice Award winner, TAL's Life Insurance policy certainly offers customers exceptional quality. Not only does it come with a number of features, but it is also considerably flexible with cover limits ranging from $100,000 to $2 million.

TAL's Life Insurance offers 'accident cover, illness cover and adventure sports cover.' You can choose one of these, two or all three - depending on your individual lifestyle. You can apply for a policy at any time between the ages of 18 and 74 years old. After this TAL guarantees to continue your cover until the anniversary of your policy just before your 100th birthday.

Other features worth noting with TAL's Life Insurance policy include:

  • The option to pause cover for up to three months, if you are experiencing financial hardship.
  • The ability to increase cover by as much as 25% or a maximum $200,000.
  • The option to increase your Life Insurance Benefit in the event of certain life events including: getting married, divorced, becoming a parent, your child starting secondary school and taking out a mortgage or increasing your current one.
  • A maximum funeral advancement benefit of $25,000.
  • Premium Relief is available as an optional extra.

This last one is available as an optional extra for applicants between the ages of 18 and 59. If you have this cover option and you are unable to work for at least three months in a row due to illness or accident, TAL will waive your insurance premium.

The full product disclosure statement for this policy can be found on TAL's website. We recommend you give this a read, cover to cover for a more comprehensive understanding of what TAL's Life Insurance covers and whether or not it is suitable to your personal situation.

How to take out life insurance with TAL

Ready to get a quote for TAL's Life Insurance? You can use TAL's CoverBuilder technology to get a quote online, chat to one of TAL's customer service representatives over the phone or send TAL a message via the insurance provider's website.

With TAL's CoverBuilder you can see a breakdown of the costs of different types of cover included in your policy and tailor your plan accordingly. You can also choose cover limits and as mentioned above you can opt to be covered for accidents, illnesses and/or adventure sports.

To be eligible for a TAL Life Insurance policy you must be an Australian citizen, permanent Australian resident or New Zealand citizen permanently living in Australia and be aged between 18 and 74. Level premiums are available for applicants up to the age of 59. Before signing on the dotted line, we recommend reading the full product disclosure statement for more information about what the policy does and does not cover, a copy of this is available on TAL's website.

Check out the full list of winners for the 2021 Mozo Experts Choice Awards for Life Insurance, to read about more award-winning life insurance policies.