TAL Income Protection

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TAL is a provider of income protection, as well as general life insurance, trauma insurance, and total and permanent disability insurance.

Compare TAL income protection

Considering TAL income protection insurance? The table below displays a snapshot of TAL income protection policies on Canstar’s database. These results are based on a 30-39 year-old non-smoking male in a medium blue collar occupation, such as trades.  If you are considering a TAL income protection insurance policy, check upfront with TAL and read the PDS to confirm the details of the policy and whether it meets your needs before committing to it.

Click here to compare more policies based on your circumstances.

What income protection does TAL offer?

TAL offers three types of income protection cover, all of which can be combined with one or both of the other two:

  • Accident Cover – provides cover in the case of accidental injury which either stops you from working or impedes your ability to work.
  • Illness Cover – provides cover in the case of illness which either stops you from working or impedes your ability to work.
  • Sports Cover – extends Accident Cover to include injuries sustained playing sports.

What features does TAL income protection offer?

As a provider of income protection, TAL offers the following features:

  • A maximum benefit period of 5 years
  • A maximum monthly benefit of 75% of your monthly income, up to a max of $12,000 a month
  • No medical tests required on application
  • A maximum entry age of 59
  • Phone-based support and an online application process
  • Other features, such as being able to pause your cover in the event of financial hardship, inflation protection, and a recurrent disability benefit.

What does TAL income protection cost?

The cost of your income protection insurance will vary depending on several different factors such as:

  • Your age and gender
  • Occupation
  • Benefit period and waiting period

The cost of a TAL income protection policy is also likely to vary depending on which of its three cover types you decide to include.

Canstar’s research team has calculated the average monthly income protection premiums for non-smoking male and female workers aged 27 and 52. Click here to see how the premiums differed.

You can get a quote for TAL income protection insurance via Canstar’s comparison table, or directly through the TAL website before applying to see what you might need to pay before applying for cover.

Compare Income Protection Insurance

Are your TAL income protection premiums tax deductible?

The ATO (Australian Taxation Office) states that you can claim the cost of premiums you pay that cover the loss of your income. You can’t, however, claim a deduction for premiums that compensate you for physical injury or are taken out through your super fund. Ask your tax accountant or financial adviser for more details on this.

Generally speaking, premiums for other forms of life insurance such as term life insurance, TPD insurance or trauma insurance may not be tax deductible.

How do I lodge a claim with TAL?

When lodging a claim for income protection with TAL, it may help make the process more straightforward if you have your policy number and details of your condition on hand. Contact them via phone or email to begin the process of making a claim.  

How to apply for TAL income protection

You can apply for TAL income protection after comparing your options in Canstar’s comparison tables and generating a quote on TAL’s website.

TAL may ask you:

  • Your name, date of birth and gender
  • Your smoker status
  • Your occupation details (salary, how many hours you work etc.)

You may also need to provide a copy of various documents for these points, such as a valid form of ID (driver’s license, passport), recent payslips proving your employment and medical notes if applicable.

Eligibility to apply

TAL’s PDS document states that you must satisfy the following criteria to be eligible for an income protection policy:

  • You must be 18-59 years olds
  • You must be either an Australian or New Zealand citizen or be an Australian Permanent Resident

You may also need to be currently employed, working at least 20 hours a week, and be able to demonstrate a previous working history.

About TAL

TAL was founded in 1869 and is now one of Australia’s leading specialist life insurance provider. It says it insures the lives and incomes of 3.7 million Australians as of 2017 and employs 1,600 staff members in its offices across Australia.

TAL provides direct life insurance through InsuranceLine and is owned by the Dai-ichi Life Insurance Company, one of the world’s largest life insurance providers.

Written by: Nina Tovey | Last updated: January 31, 2019