Changes for new Accelerated Protection applications from 26 July 2024
Premiums for new Accelerated Protection policies are changing to ensure we meet the needs of your clients now and in the future.For Adviser Use only
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We are making premium changes for new applications only from 26 July 2024, while aiming to ensure there are minimal impacts on your business. These changes will help us continue to provide long term value to your clients and support our ongoing commitment to paying claims. The changes will result in adjustments to stepped premiums on new Accelerated Protection applications created on and after 26 July 2024. The impact of these changes will vary depending on your client’s individual circumstances, as they consider a variety of factors including but not limited to, your client’s age and the products they are applying for. Where premium adjustments have been made these will mostly improve pricing for your clients. We would encourage you to speak to your Business Development Manager for more detailed information on your clients' individual circumstances. |
In-progress quotes and applications
These changes will be effective for all new quotes generated from 26 July 2024. To support you and your clients through this period of change, we are providing a 30-day transition period during which quotes and incomplete applications created before 26 July 2024 can still be lodged on quoted terms.
Quotes where new price may be lower
In some instances, the new pricing will be lower than those quoted on your applications in progress, and you may want to consider starting a new quote to make the most of the change.
Quotes where new price may be higher
In other instances, where new pricing may be less favourable, you are still able to progress with the current quoted premium as long as the application is submitted before the end of the transition period.
The TAL Adviser Centre will support the terms and prices for all quotes created before 26 July 2024 until 26 August 2024 to ensure you have time to complete them. Once quotes and incomplete or unsubmitted applications expire, a new quote must be created via the TAL Adviser Centre.
- All electronic applications with quotes generated prior to 26 July 2024 must be submitted on the TAL Adviser Centre by 26 August 2024.
- All tele-interview applications with quotes generated prior to 26 July 2024 must be submitted by 26 August 2024. The tele-interview may be completed after this date.
FOR FURTHER INFORMATION
As always, please contact your local Business Development Manager, or call our Adviser Service Centre on 1300 286 937 (Monday to Friday 8:00am - 7:00pm AEST) if you need any assistance or support from us.
IMPORTANT INFORMATION:
THIS INFORMATION HAS BEEN PREPARED FOR USE BY LICENSED ADVISERS IN THEIR PROFESSIONAL CAPACITY ONLY, AND IS NOT INTENDED TO BE PROVIDED TO NOR USED BY YOUR CLIENTS FOR THE PURPOSES OF MAKING A DECISION ABOUT ANY FINANCIAL PRODUCT. ANY ADVICE IS GENERAL IN NATURE ONLY AND DOES NOT TAKE INTO ACCOUNT YOUR CLIENT’S OBJECTIVES, FINANCIAL SITUATION OR NEEDS. BEFORE ACTING ON IT, THE APPROPRIATENESS OF THE ADVICE FOR YOUR CLIENT SHOULD BE CONSIDERED, HAVING REGARD TO THOSE FACTORS. BEFORE DECIDING TO ACQUIRE OR TO CONTINUE TO HOLD LIFE INSURANCE ISSUED BY TAL, ADVISERS AND THEIR CLIENTS SHOULD CONSIDER THE RELEVANT PRODUCT DISCLOSURE STATEMENT AVAILABLE AT WWW.TAL.COM.AU.
THIS INFORMATION IS CURRENT AT JULY 2024 AND MAY BE SUBJECT TO CHANGE. LIFE INSURANCE ISSUED BY TAL LIFE LIMITED GPO BOX 5380, SYDNEY NSW 2001 ABN 70 050 109 450 AFSL 237 848 (TAL)