TAL Life Insurance
TAL Insurance is one of the leading Australian life insurance companies. Formerly TOWER Australia, TAL Life Insurance policies cover about 2.5 million Australians.
TAL commenced operation in 1869 as New Zealand’s Government Life Insurance Office. TOWER Life Insurance opened in Australia in 1990 and, since then, has seen consistent market growth. It has also grown through the acquisition of other life insurance companies such as FAI Life, PrefSure, Adriatic Life, InsuranceLine and Friends Provident.
In 2011 TOWER Australia was acquired by the Dai-ichi Life Insurance Company (one of the largest life insurance companies in the world) and rebranded as TAL.
TAL Life Insurance Products
TAL offers the following Life Insurance Products:
- Term Life Insurance
- Total & Permanent Disability (TPD) Insurance
- Income Protection
- Trauma Insurance (also known as Critical Illness Insurance)
- Funeral Insurance
- Business Expenses Insurance
TAL employs ranks third in the market for Life Insurance sales and employs more than 1,100 Australians.
TAL is also one of Australia’s most awarded life insurance companies, winning recognition for both the quality of products and service. Recent awards include:
- Core Data – 2012 Winner – Life Company of the Year
- AFA – 2011 and 2012 Winner – Life Company of the Year
- Super Review – 2010 Winner – Group Insurer of the Year
- AB+F – 2011 Winner – Life Company of the Year and Life Product of the Year
- Money Magazine – 2012 and 2013 Winner – Best Income Protection Insurance
- Money Management – 2011 Winner – Best Risk Disability Income Product
TAL Life Insurance Claims
The quality of a Life Insurance Company is never more important than when it comes time to make a claim.
The following is a quick summary of TAL’s claims statistics:
- In 2012 TAL paid more than $2.3 million in claims every working day ($580 million in total)
- Claims were paid for Life Insurance, Income Protection, Trauma Insurance and TPD Insurance
- Some of the reasons for claims included Cancer, Heart Attack, Depression, Back Injury, Viral Fatigue and Blindness
- The youngest person for which a claim was paid was 1, the oldest was 100
With the above in mind, it is clear how TAL has built a reputation as one of Australia’s best life insurance companies and why their customers can be confident in the quality of their life insurance policies.