TAL Income Protection
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 different income replacement options, and each has different features and conditions. It is important that you understand the features of your selected option, as claim requirements and the benefit payable may change over the duration of a claim.
The income replacement options available are:
- Income Protection Enhance (IP Enhance)
- Income Protection Assist (IP Assist)
- Income Protection Focus (IP Focus)
What features does TAL income protection offer?
As a provider of income protection, TAL offers the following features:
- You can apply if you’re between 19-60 years of age (it may be up to 55 dependant on your occupation)
- Cover up to 70% of your income or up to $30,000 per month
- Your choice of waiting period: four, eight, 13 or 26 weeks
- Phone-based support
- Other features, such as being able to pause your cover in the event of financial hardship, inflation protection, and a recurrent claim 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
- Benefit period and waiting period
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
Before applying for income protection insurance with TAL, please read the PDS or contact the provider directly to see if you are eligible. If you are, you can apply for TAL income protection by generating a quote on its 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.
TAL was founded in 1869 and is now one of Australia’s largest specialist life insurance providers. It says it insures the lives and incomes of 4.5 million Australians as of 2021 and paid $2.7 billion in claims in 2020.
TAL also 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.