Introducing an easier way to transfer ownership of Protection Plans

As part of our commitment of helping to make your day-to-day easier, we are making a series of operational upgrades to improve how we work together.

We have listened to your feedback on the current Protection Plans and Protection Choice policies Cancel and Replace/Transfer of Ownership process and have made changes to make it faster and easier for you and your clients.

From Tuesday 1 April, we are reducing the amount of paperwork required for your Protection Plans clients who wish to transfer ownership of their policy.

A new single form has been created which amalgamates the five separate Cancel and Replacement Application forms. The new form also incorporates the Platform Continuation Form and can be used for both Cancel and Replacements and Platform Continuation Applications.

The form can be used for both legacy and current series Protection Plan and Protection Choices policies.

Protection Plans:

1. Policies inforce pre 28 April 2006: A quote, Cancel and Replacement Form and Personal Statement is required
2. Policies inforce on and after 28 April 2006: A quote and Cancel and Replacement Form is required.

Protection Choices:

1. Policies inforce pre 1 January 2008: A quote, Cancel and Replacement Form and Personal Statement is required
2. Policies inforce on and after 1 January 2008: A quote and Cancel and Replacement Form is required.

Platform Continuation rules for Protection Plans:

1. For any Protection Plans policy moving off platform, the customer has 60 days to move into another ownership type (super, platform or ordinary). A quote and Cancel and Replacement Form is required.

To request a quote simply email PPQuotes@tal.com.au with the following details:

• Parent and flexi policy number
• Client name
• Client DOB
• Ownership change and funding method (for both parent and flexi policy)
• Staff ID number (only available if currently on existing policy)

The new changes mean a simpler way to help your clients transfer ownership, and less admin time for both you and your clients. We’ll keep you up to date as we introduce more upgrades in the months ahead.

If you have any queries or require assistance, call our Service team on 1300 553 764 (Monday to Friday, 8am – 6.30pm, Sydney time).

For everything else, your local Business Development Manager is here to help.