TAL launches new income protection products


Life insurer TAL has launched new income protection products that aim to give customers access to affordable cover over the long term.
There were two long-term options which would provide benefits to age 65, and a short-term option that applied an ‘own occupation’ definition for one, two, or five year periods. TAL said this would remove any uncertainty around ongoing eligibility for benefits over those shorter benefit periods.
TAL Group chief executive and managing director, Brett Clark, said: “TAL has been highly engaged with the industry discussion around the need for reforming income protection products and the launch of these redesigned products is an important next step in ensuring we continue to meet the needs of all of our customers, while also staying true to the principles of value, fairness and sustainability.
“Income protection insurance is a critical tool used by Australians to protect their most important asset – their ability to earn an income – and it is essential that, as an industry, we get these products right for them.”
Recommended for you
Trustee and fund administration platform MSC Group has promoted Shelley Brown as its chief operations officer, having successfully completed the integration of the Certane Corporate Trust business.
Australian Unity’s group managing director and chief executive has announced his plans to retire at the end of the year after two decades leading the company.
TAL has appointed a senior manager for investment strategy and portfolio management who joins from a lead role at AIA.
Global wealth management platform FNZ has appointed a new group head of APAC, while boutique investment manager TWC Invest welcomes a chief technology officer.