Life Insurance
What is life insurance?
It’s important to protect your family’s future. Life insurance is one way to make sure your loved ones are looked after even after you’re gone. When you take out a life insurance policy, you can choose a beneficiary to receive a lump sum payment if you pass away or are diagnosed with a terminal illness.
This lump sum can help your loved ones keep up with important payments, like rent, mortgage, medical bills, school fees or utility costs, giving them financial peace of mind during a difficult time.
Peace of mind through our award-winning partner TAL
TAL is our life insurance partner, one of Australia’s largest life insurers. TAL insures millions of Aussies and has been awarded the 2022 - 2023 Canstar Award for Outstanding Value in Direct Life Insurance, the 2024 Finder Award for Best Life Insurance and the 2023 Money magazine Award in Direct Life Insurance Cover of the Year.
Get to know TAL's Life Insurance
Key features and benefits
Death benefit
Lump sum payment paid to your nominated beneficiary or the policy owner if you pass away. You can get a quote online for cover ranging from $100,000 to $1.5 million. For a higher level of cover, call TAL on 1300 345 620.
Child’s Critical Illness benefit
TAL’s Life Insurance includes a built-in Child’s Critical Illness benefit, which protects kids between 2 and 19 (at their next birthday) up to $10,000 if they suffer a specified critical illness event. Additional cover is available on application.
Terminal illness benefit
If you're diagnosed with a terminal illness and have less than 12 months to live, TAL may offer early payment to provide financial support for you and your family.
Future insurability benefit
This built-in benefit lets you increase your cover by up to $200,000 without underwriting if you experience a major life event, including getting married, having a child or taking out a mortgage.
TAL Life Insurance is designed to be flexible to meet the needs of you and your family as you progress through major life events like getting married, having children and purchasing a home. It can include discounts if you’re healthy and has a range of benefit options.
All of the above features may have restrictions or conditions. You should read the PDS on TAL's website to understand how it may apply to you.
To find out more, visit the TAL website. The information you provide on the TAL website will be subject to TAL’s Privacy Statement and Privacy Policy, available on their website.
Why TAL Life Insurance?
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Insurance features & benefits
TAL Accelerated Protection has a range of features and benefits you can choose from.
Built by you, for you
Tailor your cover to suit your individual needs, an insurance plan designed by the person who knows your life best: you.
24/7 grief counselling
24/7 access to dedicated grief support.
$3.5 billion in claims paid*
TAL's claims and health team help with more than just payments: get support from them throughout your recovery.
TAL rewards you for healthy living
Get a discount of up to 15% on your life insurance premiums^
TAL rewards you with lower premiums for looking after your health. Get upfront ongoing discounts of up to 15% on Life, CI and TPD insurance premiums, with TAL's Health Sense program.
Eligibility criteria and T&Cs apply. Discount calculated and applied by TAL. To find out more, visit the TAL website.
Getting a quote is simple
1. Explore cover options
Get started with an online life insurance quote with our partner TAL. To find out more, visit the TAL website. The information you provide on the TAL website will be subject to TAL’s Privacy Statement and Privacy Policy, available on their website.
2. Get a quote in minutes
Enter your personal details: age, date of birth, gender, occupation, income and smoking status. Then, submit your request to the insurer.
3. Apply and secure your cover
Depending on the information provided in the quote, you'll either continue the application via a call back from a TAL consultant or proceed online.
Frequently asked questions
Your health plays a significant role in determining your life insurance premiums. If you are in good health, you may qualify for a discount on your premium through TAL Health Sense. If you have pre-existing medical conditions or engage in high-risk activities, your premiums may be higher, or you may not be able to get cover. This will be assessed through the underwriting process.
What other insurance can I include in my Life Insurance plan?
TAL Accelerated Protection has a range of insurances you can include to build cover that’s just right for you.
Life insurance help and guides
Things you should know
*In 2022/23 TAL paid $3.5 billion in claims.
^A maximum 15% Health Sense discount applies to lump sum premiums for non-smokers meeting the BMI criteria that hold 4 benefit types (Life; Critical Illness; TPD and Income Protection (IP)) and meeting minimum sum insured amounts for all benefit types. Lower discounts will apply for other benefit combinations and smokers. More information is available on request from TAL.
For customers with loadings, the Health Sense discounts apply to premiums including loadings (except loadings applied on a per-mille basis) and apply to Life Insurance, TPD Insurance and Critical Illness Insurance benefits only. Where a per-mille loading has been applied, the discount will not apply on additional premium resulting from the per-mille loading (an example of a per-mille loading is $5.00 extra premium per $1,000 sum insured). Health Sense discounts only apply to Life Insurance, TPD Insurance and Critical Illness Insurance benefits only.
Any financial product advice provided on this website is of a general nature only and does not take into account your personal circumstances. Westpac refers customers to TAL Life Limited ABN 70 050 109 450 AFSL 237848 (TAL Life), the issuer of life insurance policies. TAL Life is part of the TAL Dai-ichi Life Australia Pty Ltd ABN 97 150 070 483 group of companies (TAL). If you purchase a life insurance policy as a result of a referral from us, Westpac will receive a commission of 10% of your premiums (exclusive of GST) for the period you continue to hold a policy.
Before purchasing life insurance, you should read the Product Disclosure Statement (PDS) and the Target Market Determination (TMD) to help you decide if life insurance is appropriate to your objectives, circumstances and needs. You can obtain the PDS and TMD from TAL’s website or by calling TAL on 1300 345 620.
By accessing TAL’s website, you will enter a third-party site not owned by Westpac. Any personal information you provide to TAL's website will be collected, used, and disclosed in accordance with TAL's Privacy Statement and Privacy Policy, also available on their website.
If you would like help deciding whether life insurance is right for you, we recommend speaking to a financial adviser.