Product Summary
Accelerated Protec tion
Income Protection
TAL’s Income Protection.
Helping your clients move ahead in life.
Competitive premium rates from the
recognised life insurance specialist
If your clients are asking about affordable Income Protection
insurance with a choice of features to meet different needs,
then we have the answer. TAL’s Accelerated Protection is
consistently rated highly by independent research houses,
routinely wins awards in its category and its premiums are
highly competitive – especially for clients aged 30 to 45.
For Indemnity policies, TAL will review your client’s earnings over
the three years prior to claim. For Agreed Value policies, TAL will
review your client’s earnings over the three years prior to applying
for cover. We will then base your client’s benefit on the highest
12 months’ earnings during this period.
By taking into account your client’s earnings over a longer
period of time, we are able to award a more generous benefit
on more occasions.
Flexible three-tier disability definition
for the best claims outcome
No requirement of ‘total disability’ during
waiting period.
TAL offers a ‘three-tier’ disability definition, which gives your client
more flexibility and the best possible outcome at claim time. It’s a
feature we pioneered because when we talk flexibility, we really
mean it.
We don’t require claimants be ‘totally disabled’ during the
waiting period.
What this means is that your client doesn’t need to choose a
definition of disability when he or she applies for the cover.
Instead, your client can get the best possible outcome from
choosing one of three definitions – hours, duties or income
– when it really counts: at claim time.
We offer a three-tier disability definition under Income Protection
Standard and Premier.
Part-time work with no penalty
Under Income Protection Premier, we also offer a ‘10-hour rule’
which allows your client to work up to 10 hours a week and still
receive a full benefit. In other words, any income earned during
those 10 hours won’t affect their monthly benefit.
If your client is self-employed or a sole trader, this is particularly
valuable because, with such clients, the ability to continue working
part time can help ensure they have a business to return to.
Pre-disability earning definition for Agreed
Value and Indemnity contracts
TAL’s pre-disability earning definition helps maximise your client’s
partial disability payments. This flexible definition applies to both
Agreed Value and Indemnity contracts.
This means your client can continue to work and, provided they
are ‘totally disabled’ at the end of the waiting period, they will still
qualify for the full benefit. Alternatively, if your client is working on
a reduced basis at the end of the waiting period, they may instead
qualify for partial payment.
This flexibility is applicable to all occupations except those with
a SRA rating.
Retirement Protection Option: because what
happens now affects what happens later
We offer a Retirement Protection Option, which means
superannuation contributions of up to 10% will be made on
their behalf. That means your client can continue to grow their
retirement savings even if they can’t earn their usual income due
to injury or illness.
This option, coupled with an Income Protection benefit,
covers 85% of your client’s earnings (including superannuation
contributions) – one of the highest income replacement ratio
in the market:
•75 per cent of earnings under Income Protection Premier or
Standard; and
•10 per cent of earnings under the Retirement Protection Option.
This gives your clients reassurance that they are protecting their
income both now and into the future.
Income Protection
Insurance
Built-in benefits
Income Protection Standard
• Total Disability Benefit
(3 Tier Disability Definition)
• Partial Disability Benefit
• Inflation Protection Benefit
Optional benefits
Income Protection Premier
(includes Standard built-in benefits,
plus the following)
• Partial Disability Benefit including
– 10 hour rule – no capability clause
• Death Benefit
• Child Care Benefit
• Concurrent Disability Benefit
• Child’s Critical Illness Benefit
• Recurrent Disability Benefit
• Rehabilitation Benefit
• Waiver of Premium Benefit
• Elective Surgery Benefit
• Rehabilitation Expense
Reimbursement Benefit
• Extended Care Benefit
• Overseas Assistance Benefit
• Bed Confinement Benefit
• Accommodation and Transport Benefit
• Family Support Benefit
• Job Security Benefit
• Housekeeper Benefit
• Involuntary Unemployment Benefit
• Scheduled Injury Benefit
• Return to Work Benefit
• Blood Borne Diseases Benefit
• Premium Pause Benefit
• Increasing Claim Option
• Accident Benefit Option
• Critical Illness Option
• Needlestick Benefit (included with
Critical Illness Option for AA+)
• Retirement Protection Option
• Disability Plus Option
• Mental Health Discount Option
(not available under Premier)
• Cover Continuation Benefit
• Guaranteed Future Insurability Benefit
• Change of Waiting Period Benefit
AWARDS
HOW WE COMPARE
2012
2011
Australian Banking &
Finance Awards
Life Insurance Company of the Year
Australian Banking &
Finance Awards
Life Insurance Company of the Year
and Life Insurance Product of the Year
AFA/Plan for Life
Life Company of the Year and Life/
Total & Permanent Disability Award
AFA/Plan for Life
Life Company of the Year and Life/
Total & Permanent Disability Award
2010
AFA/Plan for Life
Life Company of the Year,
Critical Illness Award and
Income Protection Award
For more information:
TAL’s Adviser Service Centre on 1300 286 937
Monday to Friday 8am – 7pm AEST
[email protected]
www.tal.com.au
Important Information: This information has been prepared for use by advisers only and is not intended to be provided to clients. Before making any decision about the products, advisers and their clients
should consider the Accelerated Protection or Accelerated Protection for Investment Platforms Product Disclosure Statements and/or Policy Documents. If there is any inconsistency between this document
and the Product Disclosure Statement or Policy Document, the terms of the Policy Document will prevail to the extent of the inconsistency. Current as at: July 2013
This document is issued by TAL Life Limited ABN 70 050 109 450 AFSL 237 848 (TAL).
TALR7551/0713