TAL launches new income protection products

TAL/brett-clark/

24 September 2021
| By Jassmyn |
image
image image
expand image

Life insurer TAL has launched new income protection products that aim to give customers access to affordable cover over the long term.

There were two long-term options which would provide benefits to age 65, and a short-term option that applied an ‘own occupation’ definition for one, two, or five year periods. TAL said this would remove any uncertainty around ongoing eligibility for benefits over those shorter benefit periods.

TAL Group chief executive and managing director, Brett Clark, said: “TAL has been highly engaged with the industry discussion around the need for reforming income protection products and the launch of these redesigned products is an important next step in ensuring we continue to meet the needs of all of our customers, while also staying true to the principles of value, fairness and sustainability.

“Income protection insurance is a critical tool used by Australians to protect their most important asset – their ability to earn an income – and it is essential that, as an industry, we get these products right for them.”

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

5 months 1 week ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months 2 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months 2 weeks ago

The RBA has handed down its much-anticipated rate decision, following widespread expectations of a close call....

6 days 18 hours ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

3 weeks ago

ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay....

1 week 4 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
2
DomaCom DFS Mortgage
95.46 3 y p.a(%)
5