Accelerated
Protection.
Statement of Advice Product
Guide
18 December 2015
Statement of Advice Product Guide
Contents
1.
Introduction ............................................................... 3
2.
Important Information ............................................... 3
3.
Why TAL? ................................................................... 4
4.
Generic Product Information ................................... 6
4.1.
4.2.
4.3.
4.4.
4.5.
5.
Life Insurance.................................................... 6
Total & Permanent Disability (TPD) Insurance . 6
Critical Illness Insurance ................................... 6
Income Protection ............................................. 6
Business Expense Insurance............................ 7
Accelerated Protection from TAL Life Limited ....... 8
Accelerated Protection Life Insurance.................. 10
Included Benefits ....................................................... 10
Optional Benefits ....................................................... 10
Accelerated Protection TPD Insurance ................. 11
Included Benefits ....................................................... 11
Optional Benefits ....................................................... 11
Accelerated Protection Critical Illness.................. 12
Included Benefits ....................................................... 12
Optional Benefits ....................................................... 12
Accelerated Protection Income Protection ......... 14
Standard & Premier ................................................... 14
Included Benefits ....................................................... 14
Optional Benefits ....................................................... 16
Accelerated Protection Business Expense .......... 17
Included Benefits ....................................................... 17
Optional Benefits ....................................................... 17
1. Introduction
This document is designed to provide product information which may be relevant for a Statement of
Advice (SOA) when one or more products are being recommended from Accelerated Protection.
The content of this document outlines information about the Accelerated Protection product range as
set out in the Accelerated Protection Product Disclosure Statement (PDS), dated 12 December 2014.
2. Important Information
This information has been developed for use by advisers only and is not intended to be provided to
clients. While it has been prepared in good faith the content of this document is not intended to
replace an adviser’s legal obligations to clients as AFSL holders and personal financial product
advisers. The text included is suggested wording only, and you must make a determination about
whether it is appropriate in a statement of advice. TAL Life Limited accepts no liability for your use of
this information.
Before making any decision about Accelerated Protection, advisers and their clients should consider
the Accelerated Protection or Accelerated Protection for Investment Platforms PDS and/or Policy
Document. These documents are available to download from www.taladviser.com.au. If there is any
inconsistency between this document and the PDS or Policy Document, the terms of the Policy
Document will prevail to the extent of the inconsistency. This document is issued by TAL Life Limited
ABN 70 050 109 450 AFSL 237 848 (TAL).
Claim summaries are based on the average amount of claims paid by TAL per working day for the
year ending December 2014.
This information is current as at 18 December2015 and may be subject to change without notice.
3. Why TAL?
Size and financial stability:
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TAL is owned by The Dai-ichi Life Insurance Company, Limited (Dai-ichi Life), one of the top
10 life insurers in the world
Based on the ‘Financial Strength Rating’ from Standard and Poors (S&P)
(www.standardandpoors.com.au ) Dai-ichi Life Insurance Co. Ltd. (Dai-ichi Life) is 'A+' raised
from 'A' in November 2014. S&P regard BBB and higher as having financial security
characteristics that outweigh any vulnerabilities.
TAL is the largest life insurer in Australian with 15.0% market share and over 3 million
Australians insured. Source: Plan for Life September 2015

Claims paying ability: In 2014 TAL paid over $948 million in claim benefits to customers (over $3.79
million, on average, every working day). Source: www.tal.com.au

Financial Stability: Net Profit After Tax for TAL was $131.5 million (2014: $91 million), which
is 40% above Plan
TAL has won the following awards:

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Association for Financial Advisers (AFA)/Plan for Life Awards - Life company of the year
2010, 2011, 2012 and 2014
Core Data Life Insurance Award 2012 and 2013
SMSF Adviser: Insurance Provider 2012 and 2013
Australian Banking and Finance Insurance Awards - Life Company of the Year 2009, 2010,
2011, 2012 and 2013
AFR Smart Investor Blue Ribbon Awards - Life Company of the Year 2013
Plus TAL’s Accelerated Protection product has been awarded:
Life cover
2014 Runner Up –
Term Life/TPD
Insurance Award at the
Plan for Life /
Association of
Financial Advisers Life
Company of the Year
2012 Winner - Term
Life/TPD Award at the
Plan for Life /
Association of
Financial Advisers Life
Company of the Year
TPD cover
2014 Runner Up –
Term Life/TPD
Insurance Award at the
Plan for Life /
Association of
Financial Advisers Life
Company of the Year
Trauma cover
2014 Winner – Trauma
Insurance Award at the
Plan for Life /
Association of
Financial Advisers Life
Company of the Year:
Income Protection
2015 Winner – Best
Income Protection
Product at the AFR
Smart Investor Blue
Ribbon Awards.
2013 Gold Winner –
Disability Income
Product at the
Money Management
Adviser Choice Risk
Awards.
Best Featured Income
Protection Insurance –
2010, 2011, 2012,
2013 and 2014 at the
Money Magazine Best
of the Best Awards
Cheapest Income
Protection Insurance –
2013 and 2014 at the
Money Magazine Best
of the Best Awards.
2013 Winner AFA/PFL Income
Protection Award at
the Plan for Life /
Association of
Financial Advisers Life
Company of the Year
4. Generic Product Information
4.1. Life Insurance
Life Insurance (death cover) can help your dependants cope financially after you die.
Life Insurance pays a lump sum in the event of your death, which can be used to:
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pay off your mortgage or any other debts that may affect your family’s financial future;
cover funeral costs;
pay for child care or home help to aid the remaining spouse; and
provide a reserve to generate an income stream from the interest earnings and the capital
drawdowns should the remaining spouse choose not to work.
4.2. Total & Permanent Disability (TPD) Insurance
TPD Insurance can help you cope financially when disabled and unable to work again.
TPD Insurance pays a lump sum, which can be used to:
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pay for disability-related costs including rehabilitation;
pay for changes to your lifestyle, for example, to refit your home;
enable your partner to reduce their working hours to look after you or, alternatively, to get a
carer;
pay off your mortgage or any other debts you may have; and
provide a reserve to use as an income replacement.
4.3. Critical Illness Insurance
Critical Illness Insurance can help you cope financially with the impacts a critical illness event can
have on your life. Critical illness events include conditions like cancer, heart attack, stroke, coronary
bypass surgery and angioplasty. It can be taken as a stand-alone product, or in conjunction with Life
Insurance or TPD Insurance.
Critical Illness Insurance pays a lump sum, which you can use to:
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
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pay for expensive recovery costs including rehabilitation;
pay for changes to your lifestyle, for example, refit your home;
enable your partner to reduce their working hours to look after you or, alternatively, to get a
carer;
pay off your mortgage; and
cover the cost of extra child care or housekeeping.
4.4. Income Protection
Income Protection can help you cope financially in the event of losing your income due to sickness or
injury. Following the expiry of your waiting period you are entitled to a benefit if you are unable to
earn your pre-disability income from personal exertion in your usual occupation, and you are under
the regular care of (and following the advice of) a doctor. You can cover yourself for up to 75% of
your income.
Income Protection Insurance pays an income stream, which you can use to:

maintain a regular income through sickness and/or injury;


retain the ability to pay your mortgage/rent, bills, ongoing normal expenses; and
provide your partner the benefit of not having to increase their working hours.
4.5. Business Expense Insurance
Business expense insurance covers your fixed business expenses following your chosen waiting
period, if you suffer a loss of business income due to sickness or injury.
5. Accelerated Protection from TAL Life Limited
Product benefits vary from company to company. In making this recommendation we have evaluated
insurance products from Life Insurance providers across Australia to determine the extensive
benefits and flexibility of TAL’s definitions. We have used the latest industry research to evaluate the
costs and the features of the products in our recommendation.
Accelerated Protection is continually upgraded to keep pace with medical advancements and the
changing needs of customers. The Accelerated Protection product range incorporates an extensive
range of included, as well as optional benefits.
We consider the Accelerated Protection product range from TAL to have some unique features and
benefits compared to other Life Insurance providers.
Choice of premium structures
TAL offers the choice of premium structures; stepped and level.


‘Stepped’ premiums increase each year in line with your age. Stepped premiums start lower
and gradually increase in line with your age and the sum insured.
‘Level’ premiums remain constant until age <insert 65 or 70>, at this point, they convert to
‘Stepped’. They will only increase if there is a change to the sum insured, policy fee or the
premium rates.
TAL is the only insurer in the market that guarantees the Level premium rates for Life Insurance.
I recommend <Stepped or Level>premiums because:
 <If Stepped option> this premium structure is the more economical for you at this point in
time.
 <If Level option> this premium structure will provide significant premium savings for long
term cover.
Choice of product structures
TAL offers the ability to package insurance products in various ways. This flexibility means your
insurances can be structured in line with your needs, objectives, budget and estate plans.
<If standalone option> I recommend all your insurances are set up as standalone covers. This
means that if you claim on one cover type other than death benefits, your other covers won’t be
affected. This structure will provide you with the maximum coverage although will result in a larger
total premium.
Client’s Policy
Income
Protection
Life Cover
TPD
Cover
Critical Illness
Cover
<if attaching benefits> I recommend that your Life, TPD and Critical Illness Covers are attached. This
structure provides you with comprehensive yet cost effective coverage. You need to be aware that if
you are paid on the TPD or Critical Illness Cover, the remaining covers will be reduced by the
amount of the benefit paid.
Client’s Policy
Income Protection
Life Cover
TPD Cover
Critical Illness Cover
<if linking plans> I recommend that your Life and TPD Covers are in a superannuation owned policy
to help minimise the funding impact on your cash flow and/or to benefit from the upfront tax
concessions available when funding cover this way. This structure provides you with comprehensive
yet cost effective coverage. You need to be aware that if you are paid on the TPD or Critical Illness
Cover, the remaining covers will be reduced by the amount of the benefit paid.
Superannuation Policy
Life Cover
Client’s Policy
Income Protection
Critical Illness Cover
TPD Cover
Rollover Payment Method
TAL offers the ability to fund Accelerated Protection Life, TPD and Income Protection Super
premiums with rollover money from a complying superannuation account. A 15% Tax Rebate applies
from year one where the Policy Owner is the TAL Superannuation and Insurance Fund.
<if paying by Rollover> I recommend that your Accelerated Protection <Life, TPD, Income Protection
Super> is purchased through the TAL Superannuation & Insurance Fund and is paid by rollover. This
will benefit from the TAL Super Tax Rebate and only 85% of the premium will be required by rollover.
Health Sense discount
TAL offers up to a 15% premium discount on Life Insurance and/or Total and Permanent Disability
(TPD) Insurance for the life of a policy, if the Body Mass Index (BMI) falls within the Health Sense
range of 19 to 28. The Health Sense discount applies to the premium for Life Insurance and TPD
Insurance benefits.
<if Life Insurance and/or TPD Insurance> I recommend that you take up the Health Sense discount
as your Body Mass Index (BMI) falls within the Health Sense range and you are eligible for a 7.5%
discount off your <Life, TPD> premiums.
<if Life Insurance and/or TPD Insurance and packaged with Income Protection and Critical Illness
Insurance> I recommend that you take up the Health Sense discount as your Body Mass Index (BMI)
falls within the Health Sense range and you are eligible for up to a 15% discount off your <Life, TPD>
premiums.
Accelerated Protection Life Insurance
Included
Benefits
 TAL pays a lump sum payment if you die.
 The Terminal Illness Benefit provides early payment if you are diagnosed as Terminally Ill and expected
to not survive longer than 12 months. TAL does not have a cap that applies which means you are
covered right up to your sum insured.
 TAL provides an advanced payment of 10% of the Benefit Amount, up to a maximum of $25,000 as
soon as they receive the death certificate or a medical certificate providing confirmation.
 TAL is the only product in the market that has a Repatriation Benefit where the Advanced Payment
Benefit is increased to a maximum of $35,000 if you die overseas.
 The Inflation Protection Benefit provides an annual automatic increase to your cover in line with
Consumer Price Index, or not less than 5%. Increased cover affects your premium, so you have the
option to remove this benefit, which may reduce the size of your premium increases.
 You can select with TAL for your premiums to stay the same by reducing your cover each year.
 You can increase your cover without providing additional health information after significant life events
such as marriage, having a baby, taking out a mortgage for your own home or increasing your stake in a
business in which you are a key person. Applications must be made within the specified timeframe and
before you turn 55. Benefit increases can only be exercised once in any 12-month period and limits
apply, for example the lesser of 25% of your original benefit or $200,000. Not available if a medical
loading or medical exclusion applies to your insurance. This is called the Guaranteed Future Insurability
Benefit.
 TAL includes a Financial Planning Benefit where they will reimburse up to $5,000 for professional
financial planning advice if you receive a claim through the Terminal Illness Benefit. Your financial plan
must be prepared by a financial adviser within 12 months of the date we finalise your claim.
 TAL provides an Accommodation Benefit to cover the costs of an Immediate Family Member, up to
$250 per day and for a period of up to 14 days, if you are Bed Confined more than 100km away from
home.
 TAL provides a Grief Counselling Benefit for you or your Immediate Family Member if you need support
and grief counselling in the event of a claim.
 TAL includes a free Child’s Critical Illness Benefit of $10,000 if your child suffers a Critical Illness event
listed in the PDS.
 TAL provides you with insurance cover whilst your application is being considered. This is known as
Interim Cover which offers immediate protection in the event you die before your policy is issued. Cover
is provided from the date the completed application is received by TAL. Interim Cover is valid for 90
days while the application is being assessed.
 TAL provides cover worldwide, 24 hours a day.
Optional
Benefits
 Greater protection is available for your business needs by way of increasing your death and disability
sum insured, subject to certain conditions, without the need for any further medical evidence being
supplied. This facility is known as the Business Insurance Option.
 TAL provides a Premium Relief Option where you can waive your premiums while unable to work for at
least three consecutive months due to sickness or injury.
Accelerated Protection TPD Insurance
Included
Benefits
 TAL provides a lump sum payment if you suffer total and permanent disablement (TPD). You have a
choice of ‘Any’, ‘Own’ or ‘ADL’.
 (Where Superlink TPD is selected) TAL provides SuperLink TPD for insurance inside superannuation
where claims are first assessed using the ‘Any Occupation’ definition and the Superannuation Industry
Supervision Act (SIS) definition of permanent incapacity. Where the definition is not met, claims are
then assessed under an ‘Own Occupation’ definition outside of superannuation.
 If you become totally and permanently disabled, TAL has a three month waiting period. This means if
you are unable to work because you are disabled TAL will assess your claim after just three months of
the event occurring.
 TAL will pay your full TPD benefit if you become disabled and are able to return to work but your
earnings are less than 25% of your previous 12 months earnings.
 TAL will pay you a partial benefit if, subject to the terms and conditions of the policy, you suffer the
permanent loss of use of one arm, or one leg or the loss of sight in one eye.
 The Inflation Protection Benefit provides an annual automatic increase to your cover in line with
Consumer Price Index, or not less than 5%. Increased cover affects your premium, so you have the
option to remove this benefit, which may reduce the size of your premium increases.
 You can select for your premiums to stay the same by reducing your cover each year.
 You can increase your cover without providing additional health information after significant life events
such as marriage, having a baby, taking out a mortgage for your own home or increasing your stake in a
business in which you are a key person. Applications must be made within the specified timeframe and
before you turn 55. Benefit increases can only be exercised once in any 12-month period and limits
apply, for example the lesser of 25% of your original benefit or $200,000. Not available if a medical
loading or medical exclusion applies to your insurance. This is called the Guaranteed Future Insurability
Benefit.
 TAL includes a Financial Planning Benefit where they will reimburse up to $5,000 for professional
financial planning advice if you receive a TPD benefit. Your financial plan must be prepared by a
financial adviser within 12 months of the date we finalise your claim.
 TAL provides an Accommodation Benefit to cover the costs of an Immediate Family Member, up to
$250 per day and for a period of up to 14 days if you are Bed Confined more than 100km away from
home.
 TAL provides a Grief Counselling Benefit for you or your Immediate Family Member if you need support
and grief counselling in the event of a claim.
 TAL includes a Child’s Critical Illness Benefit of $10,000 if your child suffers a Critical Illness event listed
in the PDS.
 TAL provides you with insurance cover whilst your application is being considered. This is known as
Interim Cover which offers immediate protection before your policy is issued. Cover is provided from the
date the completed application is received by TAL. Interim Cover is valid for 90 days while the
application is being assessed.
 TAL provides cover worldwide, 24 hours a day.
Optional
Benefits
 (Where TPD Insurance is Attached or Linked to Life Insurance) TAL provides the ability to repurchase
your Life Insurance after the payment of 100% of TPD insurance 12-months from the anniversary. This
is called the Death Buyback Option.
 (Where TPD Insurance is Attached to Life Insurance) The Double TPD Option means that payment of
the TPD Benefit will not reduce your Life Insurance and future premiums will be waived.
 (Where TPD Insurance is Attached to Life Insurance) Greater protection is available for your business
needs by way of increasing your death and disability sum insured, subject to certain conditions, without
the need for any further medical evidence being supplied. This facility is known as the Business
Insurance Option.
 TAL provides a Premium Relief Option where you can waive your premiums while unable to work for at
least three consecutive months due to sickness or injury.
Accelerated Protection Critical Illness Insurance
Included
Benefits
 TAL provides a lump sum payment for a range of conditions (please refer to the PDS) until the Policy
Anniversary before you turn 70. If your Critical Illness insurance is Attached or Linked to Life Insurance,
cover continues but the only Critical Illness condition that applies is Loss of Independent Existence.
 TAL provides a Paralysis Support Benefit which is unique in the market. TAL doubles the lump sum
payment, to a maximum of $2,000,000, if you become paralysed.
 TAL provides the ability to repurchase your Life Insurance after the payment of 100% of Critical Illness
Insurance 12-months from the anniversary of the date the claim is lodged. This is called the Death
Buyback Option.
 (Where cover is Critical Illness Premier) TAL provides an Advancement Benefit to cover immediate
expenses if you experience one of the events listed in the Advancement Benefit Events table in the
PDS, to the amount shown. Events include Early Stage Cancers. Payment of this benefit reduces your
Critical Illness Benefit by the amount paid.
 (Where cover is for a female client and Critical Illness Premier) TAL provides a specific benefit to cover
female specific conditions including Pregnancy Complications, Congenital Abnormalities and
Osteoporosis and Lupus to 20% of your Benefit Amount (to a maximum of $50,000). See the conditions
covered and further information in PDS. Payment of this benefit reduces your Critical Illness Benefit by
the amount paid.
 (Where cover is for a AA+ occupations and Critical Illness Premier is selected) A Needlestick Benefit
applies so you have cover for Occupationally Acquired Hepatitis B or C in addition to Occupationally
Acquired HIV.
 The Inflation Protection Benefit provides an annual automatic increase to your cover in line with
Consumer Price Index, or not less than 5%. Increased cover affects your premium, so you have the
option to remove this benefit, which may reduce the size of your premium increases.
 You can select for your premiums to stay the same by reducing your cover each year.
 You can increase your cover without providing additional health information after significant life events
such as marriage, having a baby, taking out a mortgage for your own home or increasing your stake in a
business in which you are a key person. Applications must be made within the specified timeframe and
before you turn 55. Benefit increases can only be exercised once in any 12-month period and limits
apply, for example the lesser of 25% of your original benefit or $200,000. Not available if a medical
loading or medical exclusion applies to your insurance. This is called the Guaranteed Future Insurability
Benefit.
 TAL includes a Financial Planning Benefit where they will reimburse up to $5,000 for professional
financial planning advice if you receive the full Critical Illness benefit. Your financial plan must be
prepared by a financial adviser within 12 months of the date we finalise your claim.
 TAL provides an Accommodation Benefit to cover the costs of an Immediate Family Member, up to
$250 per day and for a period of up to 14 days, if you are Bed Confined more than 100km away from
home.
 TAL provides a Grief Counselling Benefit for you or your Immediate Family Member if you need support
and grief counselling in the event of a claim.
 TAL includes a free Child’s Critical Illness Benefit of $10,000 if your child suffers a Critical Illness event
listed in the PDS.
 TAL provides you with insurance cover whilst your application is being considered. This is known as
Interim Cover which offers immediate protection before your policy is issued. Cover is provided from the
date the completed application is received by TAL. Interim Cover is valid for 90 days while the
application is being assessed.
 TAL provides cover worldwide, 24 hours a day.
Optional
Benefits
 The Critical Illness Reinstatement Benefit provides the option to repurchase your Critical Illness
Insurance 12 months after a claim is lodged. Conditions apply.
 (Available where cover is Attached or Linked to Life Insurance) The Double Critical Illness Option
means that payment of the full Critical Illness Benefit will not reduce your Life Insurance and future
premiums will be waived.
 The Child’s Critical Illness Option pays a lump sum payment to the sum insured selected if an insured
child first suffers from one or more of the conditions listed in the PDS. TAL offers grief counselling to
Immediate Family Members following a claim.
 (Available where cover is Attached to Life Insurance) Greater protection is available for your business
needs by way of increasing your Critical Illness sum insured, subject to certain conditions, without the
need for any further medical evidence being supplied. This facility is known as the Business Insurance
Option.
 TAL provides a Premium Relief Option where you can waive your premiums while unable to work for at
least three consecutive months due to sickness or injury.
Accelerated Protection Income Protection Insurance – Super, Standard & Premier
Included
Benefits
 TAL provides a monthly income benefit if you become disabled and are unable to work as a result of
sickness or injury.
 You can insure up to 75% of your gross salary.
 (Where Superlink IP is selected) TAL provides Superlink IP. This option allows you to structure Income
Protection Super linked to an Income Protection <Standard><Premier> outside of superannuation. The
overall level of cover held is equivalent to the cover provided by an individual Income Protection
<Standard><Premier> plan. Claims will be first assessed against Income Protection Super and any
amount payable is paid to the trustee of the superannuation fund on your behalf. Any benefits not
payable under Income Protection Super may be paid under Income Protection <Standard><Premier>
subject to meeting the policy terms and conditions.
 Waiting period - this is the period that you are required to wait in the event of a claim before TAL
commences paying you a benefit. Options include a 2 week, 4 week, 13 week or 2 year waiting period.
The shorter the waiting period, the more expensive the premiums will be.
 Benefit period - this is the length of time that TAL will continue paying you, in the event of a claim.
Benefit period options include 2 years, 5 years, to age 65 and to age 70. The longer the benefit period,
the more expensive the policy; however, a longer period means you will be covered sufficiently should
you suffer a long-term injury.
 TAL offers Agreed Value or Indemnity - you can either choose to have an ‘agreed value’ or ‘indemnity’
policy. Under agreed value, the policy will pay you the specific amount insured in the event of a claim
unless structured through superannuation. Under agreed value structured through superannuation, the
policy will pay the lesser of the amount actually insured and your average monthly earnings prior to
claim. Under indemnity, the policy will pay the lesser of the amount actually insured and 75% of your
average monthly earnings prior to claim. Indemnity policies are generally less expensive than agreed
value policies.
 TAL has a three tier definition of Total Disability for Income Protection. Within the industry there is a
debate over which definition of disability is best - income based, hours based or duties based. TAL
realises that no single definition can be the best in all claim situations. To solve this, TAL has provided a
multi-disciplined definition of disability, meaning TAL’s claim assessors will look at all three at time of
claim. This makes the TAL Accelerated Protection - Income Protection Plan more flexible than Income
Protection policies with a single definition.
 (For all occupations except SRA) It is common in the market to have a requirement to be Totally
Disabled during the waiting period to qualify for benefit payments. With TAL you can be Partially
Disabled throughout the waiting period and still qualify for Total and Partial Disability benefits. There is
no requirement to be Totally Disabled for a certain number of days unless structured through
superannuation.
 TAL’s Inflation Protection Benefit provides an annual automatic increase to your cover in line with
Consumer Price Index or not less than 3%. Increased cover affects your premium, so you have the
option to remove this benefit, which may reduce the size of your premium increases.
 The Death Benefit is standard and pays a lump sum payment of six times the monthly benefit to
$50,000 if you die. You do not have to be receiving a claim to be covered for this benefit.
 TAL’s Concurrent Disability Benefit means that if disability results from separate Sickness or Injury, your
benefit payments are calculated according to the Sickness or Injury that provides the highest payment.
This ensures you are always receiving the maximum benefit you are entitled to.
 If a disability recurs from the same or related cause within 12 months of a claim ending, TAL treat it as a
continuation of the original claim which means no Waiting Period before payments recommence. All
claim periods will be added together to calculate the maximum Benefit Period for the disability.
 TAL waives your Income Protection premiums while you receive Income Protection benefits.
 If you’re disabled as a result of a transplant, surgery to improve your appearance or elective surgery on
the advice of a medical professional, you’ll be regarded as Totally Disabled. Not applicable when
surgery occurs within six months of commencement, reinstatement or an increase in benefit.
 For each day you’re confined to bed, on the advice of a Medical Practitioner, a proportion of the
Benefit Amount can be paid under certain circumstances.
 (For Medical Practitioners only) If you contract a blood borne disease such as HIV, Hepatitis B or C and
you either normally perform Exposure Prone Procedures or suffer a reduction in patients due to
disclosing the disease, TAL will assess as disabled even if you are physically able to work.
 TAL provides you with insurance cover for Total Disability whilst your application is being considered.
This is known as Interim Cover which offers immediate protection before your policy is issued. Cover is
provided from the date the completed application is received by TAL. Interim Cover is valid for 90 days
while the application is being assessed.
 TAL provides cover worldwide, 24 hours a day.
(The following benefits apply to Standard only):
 TAL offers an additional monthly benefit of up to $5,000 for up to three months if a family member stops
paid work to care for you. Conditions apply.
 TAL provides a Housekeeper Benefit if a non-family member cares for you while Bed Confined.
 TAL includes a Specified Injury Benefit, which automatically pays for a specific period for certain events,
based on the nature of the Injury. For these events, this means no waiting period will apply.
(The following benefits apply to Premier only):
 TAL includes a leading 10 hour rule where under the Total Disability Benefit, if you are unable to work
for more than ten hours per week, your earnings will not be taken in to account.
 TAL provides a Child Care Benefit for a maximum of three months to reimburse costs incurred in
relation to providing outside care for any children under the age of 12 as a result of your Sickness or
Injury.
 TAL includes a free lump sum payment of three times the Benefit Amount to a maximum of $25,000 if
your child suffers a Critical Illness Event as listed in the PDS.
 TAL provides an additional payment of 50% of the Benefit Amount if while on claim you participate in a
pre-approved Rehabilitation Program.
 TAL will reimburse expenses incurred in a pre-approved Rehabilitation Program.
 TAL’s Overseas Assistance Benefit reimburses airfare costs for emergency transportation back to
Australia if you are disabled overseas. Conditions apply.
 The Accommodation and Transport Benefit reimburses accommodation costs for your family of up to
$250 per day, for a maximum of 30 days, and transport costs up to $500 for you when you are Totally
Disabled, and need to travel more than 100km from home for treatment.
 (not applicable if the life insured owns all or part of the business) Your employer will receive a payment
if you are Totally Disabled for two months and return to work.
 TAL provides an Involuntary Unemployment Benefit that waives your Income Protection premiums,
including premiums for any optional benefits, if you become involuntarily unemployed for reasons other
than Sickness or Injury for up to three consecutive months. You will continue to be covered over this
period.
 TAL includes a Return to Work Benefit where you will receive certain payments on the successful return
to work following three months of receiving Rehabilitation Benefits.
 You can suspend your premiums and cover for up to 12 months if you become unemployed or are on
long term leave under TAL’s Premium Pause Benefit.
 (not applicable if health or pastime loadings or exclusions apply) TAL offers a leading Guaranteed
Future Insurability Benefit where you can increase your insurance by up to 15% every third Policy
anniversary, to a maximum of $30,000, without providing additional health information after a future
income increase.
 With TAL you can shorten your Waiting Period if your employment status changes.
Optional
Benefits
 TAL offers an Increasing Claims Option where while you are on claim they will increase benefit
payments in line with Consumer Price Index.
 (for two and four week waiting periods) The Accident Benefit Option will provide a proportion of your
overall Benefit Amount for each day you are disabled as a result of an injury during your Waiting Period.
You must be Totally Disabled for three days.
 (where the Waiting Period is up to 13 weeks) TAL offers a market leading Critical Illness Option that
provides a lump sum payment of six times the Income Protection Benefit Amount for a range of
conditions including Cancer, Heart Attack and Stroke. This payment is on top of any monthly benefit and
helps cover the financial impact of medical treatment and expenses.
 The Retirement Protection Option increases protection to ensure your superannuation savings continue
to grow if you are disabled.
 The Disability Plus Option increases your cover to provide protection against severe disability.
(available where cover is Standard only) The Mental Health Discount Option means that you are only
covered for mental illnesses for up to 2 years even if you have a longer Waiting Period. In return you
receive a premium discount. There are conditions that apply.
Accelerated Protection Business Expense Insurance
Included
Benefits
 The Business Expense cover will provide a monthly benefit for 12 months (some conditions apply) to
reimburse fixed operating expenses of your business if you become Totally or Partially Disabled due to
Injury or Sickness. This benefit helps to continue the business operation whilst you are disabled.
 TAL does not require you to be totally disabled for any length of time during the Waiting Period to qualify
for benefit payments.
 TAL has a leading Payment Extension Benefit where if after one year you are still Totally or Partially
Disabled and a sum of 12 times the Benefit Amount has not been paid, TAL will extend benefit
payments.
 If you die, TAL will pay three times your Benefit Amount as a lump sum to a maximum of $50,000. You
do not have to be receiving a claim to be covered for this benefit.
 If you are still disabled after receiving benefits for 12 consecutive months, TAL will pay up to 25% of the
Benefit Amount for an additional 18 months to cover lease costs (include equipment, motor vehicles or
premises).
 TAL will reimburse up to 75% of your monthly average profit for your (insert business name), for up to
12 months, if you suffer a loss in profits after taking two months off work due to Total Disablement and
subsequently returns to work.
 TAL offers an Elective Surgery Benefit.
 TAL’s Inflation Protection Benefit provides an annual automatic increase to your cover in line with
Consumer Price Index or not less than 3%. Increased cover affects your premium, so you have the
option to remove this benefit, which may reduce the size of your premium increases.
 If a disability recurs from the same or related cause within 12 months of a claim ending, it will be treated
as a continuation of the original claim. This means no Waiting Period before benefits recommence.
 TAL will waive your Business Expense premiums while you receive a benefit payment for Total or
Partial Disability.
 TAL provides you with insurance cover for Total Disability whilst your application is being considered.
This is known as Interim Cover which offers immediate protection before your policy is issued. Cover is
provided from the date the completed application is received by TAL. Interim Cover is valid for 90 days
while the application is being assessed.
 In addition to the examples listed above, the net cost of a locum is an allowable business expense. The
net cost arises when the gross sales generated are less than the fees incurred.
 TAL provides cover worldwide, 24 hours a day.
Optional
Benefits
 The Accident Benefit Option will provide a proportion of your overall Benefit Amount for each day you
are disabled as a result of an Injury during your Waiting Period. You must be Totally Disabled for three
days.
Accelerated Protection Income Protection Optimal
How it
works
TAL’s Income Protection Optimal Insurance provides a monthly benefit to replace your income if you
are disabled.
It is a unique product in the Australian market, specifically developed to provide a very cost effective
solution using cause and effect to determine waiting and benefit periods.
The benefit paid will depend on whether your disability is caused by one of three conditions:
1. a Specified Critical Illness
2. a Specified Injury, or
3. an Injury or Sickness other than one of the Specified Injury or Critical Illnesses
defined.
1) Total Disability caused by a Specified Critical Illness if you become Totally Disabled due to
any of the specified critical illnesses as listed in the PDS and defined in the Policy Document,
you will receive:

a monthly benefit in arrears from the first day of Total Disability – no Waiting Period applies

an increased Benefit Amount that is equal to 95% of your income for the first six months of
a claim

after the first six months the amount is reduced using the following scale based on your
pre-disability earnings:
Duration of Claim
% of Pre-Disability
Earnings
7-12 months
90
13-18 months
85
19-24 months
80
Over 24 months
75
2) Total Disability caused by a Specified Injury
If you become Totally Disabled due to a Specified Injury as listed in the PDS, no Waiting Period will
apply and you will receive:

a monthly benefit in arrears for the minimum payment period that is listed in the PDS from
the first day of Total Disability – no waiting period applies

for the first six months we will pay the Total Disability benefit whether or not you go back to
work

after the first six months the amount we will pay will be 1/30th of the lesser of your predisability earnings at the time of going on claim.
If Total Disability continues after the relevant minimum period, the benefit can continue for up to two
years by converting to a claim which is paid under point 3.
3) Sickness or Injury other than a Specified Critical Illness or Injury
If you become Totally Disabled due to another reason other than the ones defined in points 1 and 2,
you will receive a benefit after 30 days of continuous Total Disability. Payments can be made for up
to two years and will be paid monthly in arrears.
How
much
will it
cost?
Income Protection Optimal is very cost effective because it provides you with the cover that matters
to you most without all the bells and whistles you may not need.
Because of its unique structure, it is on average much cheaper than most traditional products
offered in the market.