About TAL Life Insurance

Formerly known as TOWER, TAL life Insurance can trace its origins back to 1869 when it was formed by the New Zealand Government and known as the Government Life Insurance Office. When it reached out to include Australia in its marketing base in 1990 it became known as TOWER. It was demutualised in 1999 and after it acquired prominent life insurance companies such as Adriatic Life, Friends Provident and FAI life it became solidly established as a major life insurance company in the Australian and New Zealand market.

In 2006 the New Zealand and Australian components of the company formally parted ways with a de-merger and the Australian business of TAL was listed on the Australian Stock Exchange (ASX) as a separate identity known as TAL Australia Group Limited. Following the de-merger TAL Life Insurance Australia went from strength to strength. This was further strengthened when it added PrefSure in 2006 and InsuranceLine in 2008 into the TAL Australia Group. Since 2006 the size of in-force premium business handled by TAL Life Insurance has grown five-fold. This growth has seen the compound annual profit grow by 22 percent and the need to build a team of 1,100 to handle the increased activity.

TAL’s Industry Recognition

The company now has a growing list of awards for its innovative products and enjoys a 11 percent market share, a third of the total Australian market in life insurance business alone. The major awards TAL Life Insurance have received in recent years include the following:

• AFA Life Company of the Year Award – 2010 joint winner.AFA Critical Illness Award – 2010 winner.
• AFA Income Protection Award – 2010 winner.
• AFA Life Cover and TPD Award – 2010 finalist.
• AFA Products and Premiums Award – 2009 winner.
• AFA life Company of the Year Award – 2009 finalist.

These awards show that TAL Life Insurance is succeeding at being the foremost specialist life provider in the Australian market. They are achievements to be proud of and go to prove the company’s ability to deliver innovative and competitive life insurance, risk, superannuation and retirement solutions to the Australian public on a consistent basis. TAL Life Insurance says it is its objective to deliver the right products, service and information to all its customers to help them make informed decisions regarding the risk they carry as well as their superannuation needs. TAL Life Insurance efficiently delivers these services to clients mainly through its network of independent advisors.

Compare Life Insurance Products from TAL

• Life Insurance: Your family will recieve a lump sum payment to cover immediate and ongoing expenses in the event or your death or being diagnosed with terminal illness.
• Critical Illness: Recieve payment to cover immediate and ongoing expenses in the event that you are diagnosed with an illness from TALs comprehensive list of conditions.
• Income Protection Insurance: Redieve up to 75% of your annual income when you suffer an injury or are seriously ill.
• Total Permanent Disability Income: Cover the immediate and ongoing expenses of total and permanent disability. This includes modifications to your home, current and ongoing medical bills, support for your family.
• Business Expense Cover: If you are the owner of a business recieve payment to help keep your business running with the necessary cash-flow. Expenses include vehicle/machinery hire, rent, utility bills and staff wages.

TAL’s Values

The secret to TAL Life Insurance’s successful strategy is simply that of providing people with a variety of means whereby they can conveniently access life insurance. The next step is to give them every reason to stay covered. This is done by supplying an impressive service with clever technological support all encompassed with a drive towards innovation, a willingness to adapt to change and to stay ahead of the others, not forgetting fostering a strong and lasting partnership with their business partners. All obtained with the compassion, commitment and quality of the 1,100 strong staff.

Because TAL Life Insurance is a specialist life insurance provider it is well positioned to respond quickly to the requirements of its customers. It is a company that takes the time to fully understand exactly how its products and services can best adapt to their clients changing needs. Life takes many twists and turns and TAL Life Insurance is flexible enough to take in any changes that may occur. As an example of this is the Tower Life Insurance Funeral Plan offered by InsuranceLine.

Throughout the life of this cover it can be altered and changed depending on the policy holders concept of risk at any one time. It is of course cheapest when taken out at an early age when the company sees its risk at a minimum, as do many people unfortunately. However as we age we can adjust the amount of cover to suit. It is an ideal means in which people who have been negligent in the past about providing themselves and their families with a certain level of protection can, at a late age, still get that protection without having to worry about the condition of their health. It is an important way of ensuring your funeral costs and final debts are not thrust on other family members who may not be in the position to take on such an obligation at that time in their lives.

Team of Expert Insurance Advisors

TAL Life Insurance is run by a team of dedicated people who are succeeding in a very competitive market. The fact of their $1.1 billion of in-force premiums attests to this success. It is obvious that the company has worked hard to accommodate change with innovation that meets the needs of the people who they are fast turning into customers, as well as that of their business partners and of course ultimately their shareholders. It is operating in a world of rapid change in many ways, this throws up further challenges and necessitates ongoing business plans which anticipate trends, set goals and develop and offer innovative strategies for it to continue in achieving its goals.

TAL Life Insurance began life as the insurance company of the ordinary people with the backing of the New Zealand government. It has never forgotten its roots as it continues insuring the most vulnerable in the community who recognise it as being a friend not just a business.