TAL updates product suite to reflect client changes

Australian life insurer, TAL, has released its improved series of Accelerated Protection products with an increased focus on affordability and access to a broader range of clients.

The updated product suite aims to provide a variety of options that accommodate diverse client needs, while also maintaining sustainable pricing over the long-term.

Available from 8 September, the improved features include:

• More affordable, long-term benefits made accessible to a broad range of customers;
• More tailored TPD pricing and new occupation classes so more customers are covered;
• Changes to Income Protection benefits so a broader range of insurance needs are met; and
• Changes to levels of cover available for some Life Insurance and Critical Illness products.

“We regularly review our propositions to ensure they continue to meet the needs of advisers and their clients, and we have identified opportunities with our redesigned Accelerated Protection products to extend our proposition to meet the needs of a broader set of customers,” TAL General Manager, Retail Sales and New Business, Beau Riley, said.

“At the same time, we understand that many Australians are experiencing cost of living challenges and juggling tight household budgets.

“Our updated Health Sense Plus offering not only plays an important role in encouraging clients to engage with, monitor and maintain their health, it also enhances policy affordability at inception while enabling sustainable pricing to be maintained over the life of the product.

“The role advisers have in helping clients to navigate their financial journey is an essential one, and our updated Accelerated Protection series is designed to provide advisers with more options for meeting clients’ diverse needs, more affordably.”

The updated products also come as TAL increases the up-front affordability across its other products. By removing the BMI requirement to be eligible for the 5% Health Sense Plus discount, it is now more available from policy commencement.