TAL Insurance (formerly Tower Life Insurance)
[social_share]Fomerly known as TOWER Australia, TAL Insurance provides life insurance products to approximately 2.5 million Australians. TAL Life Insurance products include:
- Life Insurance
- Funeral Plans
- Total & Permanent Disability (TPD) Cover
- Trauma (or Critical Illness) Insurance
- Income Protection Insurance
- Business Expenses Insurance
TAL’s History
The origin of Life Insurance company TAL dates back to 1869 when the Government Life Insurance Office in New Zealand was created. TOWER Life Insurance products were first introduced to Australia in 1990 and since then, the company has grown rapidly, acquiring other companies such as InsuranceLine, Adriatic Life, FAI Life, PrefSure and Friends Provident.
In 2011 TOWER Australia was purchased by the Dai-ichi Life Insurance Company, one of the world’s largest insurance companies, and changed its name to TAL.
TAL curently employs 1,100 Australians and is the 3rd largest life insurance provider in Australia.
Reputation Matters
TAL is a multi-award winning company, gaining recognition for both its product and service quality. Recent awards include:
- 2011 Winner – Best Risk Disability Income Product – Money Management
- 2011 Winner – Life Company of the Year – AFA
- 2011 Winner – Life Company of the Year and Life Product of the Year – ABandF
- 2010 Winner – Group Insurer of the Year – Super Review
- 2012 Winner – Best Income Protection Insurance – Money Magazine
Claims Record
One of the most common questions asked about life insurance is “Do Life Insurance companies pay claims?”. The answer is Yes. Approximately 95% of all claims submitted are paid.
The following statistics from TAL should further reinforce the fact that insurance companies do pay legitimate claims:
- In 2011 TAL paid more than $565 million in total claims (or $2 million every business day)
- Claims were paid for all major insurance types. I.e. Life Insurance, Trauma Insurance, Total and Permanent Disability Insurance and Income Protection
- Some of the reasons for claims included Cancer, Heart Attack, Depression, Stroke, Blindness and Leg Injury
- Ages of people claiming ranged between 20 and 100 years old
When you take into account TAL’s history, market share, awards and their committment to paying claims, it is easy to understand how TAL has become one of Australia’s leading insurers, and why customers of TAL can be confident their financial security is well protected.
We can help
Our life insurance specialists can provide life insurance quotes from TAL Insurance and life insurance comparisons between TAL and Australia’s other leading life insurance companies. Our guidance can help you save money, while still getting the life insurance solution that best matches your unique needs.
[social-bio]
Sources
