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Understanding life insurance

What do I need to know?

Find out how life insurance works and the ways it can help you protect the life you love.

 

Common life insurance terms

Our life insurance jargon buster covers our life insurance facts in plain English.

Life insurance FAQs

Find your answers faster in our popular FAQ topics.

What is life insurance and how does it work?

Each insurance protects your life in a different way. Find out about the different types of insurance you may need to help you live the life you’ve planned.

  • TAL’s Accelerated Protection Life InsuranceTAL’s Accelerated Protection Life Insurance
  • What is Life Insurance?What is Life Insurance?
  • What is Income Protection?What is Income Protection?

Life insurance articles

Dedicated to empowering Australians to make the right financial decisions, with insightful content about protecting you and your loved ones, health, family and finances.

Things to be aware of about life insurance

Planning ahead could ensure you have the necessary financial security and protection if the unexpected happens. 

When and how to review and compare life insurance

Major life changes often require a review of your life insurance policies as they can have an impact on the amount of insurance coverage you need.

Insure your peace of mind: The importance of life insurance

Whether you need life insurance depends on your individual circumstances and financial responsibilities. Life insurance can provide financial protection for your loved ones in the event of your death.

Stay financially fit: How income protection can help

Income Protection can help ease the financial burden by providing a regular income when you are sick and injured. It will allow you to continue to pay your bills while you recover.

Preparing for the unexpected: The importance of trauma insurance

Knowing that your medical and rehabilitation costs are covered if you suffer a serious injury, stroke or major illness, can provide you peace of mind while you recover.

Do you really need TPD insurance? Assessing your coverage needs

When considering whether you need TPD insurance, it is important to consider the expenses you may need to cover if you became totally or permanently disabled. 

Need to know more about life insurance?

You can learn more about Life Insurance and cover options on the TAL website or visit the ASIC’s MoneySmart website. The information you provide on the TAL website will be subject to TAL’s Privacy Statement and Privacy Policy, available on their website.

Explore cover options

Things you should know

Any financial product advice provided on this page is general in nature and does not take into account your personal circumstances. Before making a decision, please consider the relevant Product Disclosure Statement (PDS) and Target Market Determination (TMD). The PDS and TMD can be obtained from TAL's website or by calling 1300 345 620.

Life Insurance is issued by TAL Life Limited ABN 70 050 109 450 AFSL 237848 (TAL Life). TAL Life is part of the TAL Dai-ichi Life Australia Pty Ltd ABN 97 150 070 483 group of companies (TAL). Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714 (the Bank) refers customers to TAL, but does not guarantee the insurance.

By selecting 'Explore cover options' you will enter a third-party site hosted by TAL. Any personal information you provide to TAL will be collected, used and disclosed in accordance with TAL's Privacy Statement and Privacy Policy available on their website.

If you purchase Life Insurance with TAL the Bank will receive a commission of 10% of the premiums (exclusive of GST) for the period you continue to hold a policy.

If you would like help deciding whether life insurance is right for you we recommend speaking to a financial adviser.

Westpac's Privacy Statement is available at westpac.com.au/privacy/privacy-statement or by calling 132 032 8am - 8pm Sydney time, 7 days. It covers:

  • How you can access the personal information Westpac holds about you and ask for it to be corrected;
  • How you can complain about a breach of the Privacy Act 1988 (Cth) or a registered Code by Westpac and how Westpac will deal with your complaint; and
  • How Westpac collect, hold, use and disclose your personal information in more detail.