If you are facing financial hardship, there may be ways we can help. Please contact us on 1300 553 764 to discuss what options may be available.
The information on this page does not take into account your personal objectives, financial circumstances or needs. You may wish to speak to your financial adviser, or seek professional advice before you consider making any changes or cancelling your cover. Making changes to a policy may impact such things as the benefit payable, the claim you can make or waiting period. Insurance cover may have different features, which if altered may impact the premium.
^ The Australian Prudential Regulation Authority (APRA) has required life insurers to, with effect from 1 October 2021, have controls to manage the risks associated with long benefit periods. Accordingly, if you reduce your benefit period, you may not be able to increase the benefit period after that.
~ The Australian Prudential Regulation Authority (APRA) has mandated for all insurers to cease the sale of Agreed Value and Endorsed Agreed Value policies from 31 March 2020. If you do decide to reduce your premiums by switching the benefit type from Agreed Value to Indemnity, then you cannot change it back again if you or your financial adviser changes their mind later.
1Claims statistics based on total number of claims paid by both TAL Life Limited and TAL Life Insurance Services Limited insurance products (including funeral insurance) between 1 April 2022 and 31 March 2023. Assessment, acceptance and payment of each claim is subject to the individual policy terms, conditions, limits and exclusions, which are set out in the applicable Product Disclosure Statement (PDS) and Policy Document.