Changes to Tower Protection Policy premium rates from 1 August 2025

From 1 August 2025, premium rates will increase for Tower Protection policies sold between 2002 and 2009. This is the first increase for this portfolio in more than eight years.

We periodically review our premium rates to ensure we can continue offering cover that’s sustainable and supports claimants in the long-term. This increase is reflective of higher expected future claims and reinsurance costs.

Clients will be advised of their new premiums and information regarding the premium increases, in their annual anniversary notice sent to them up to 45 days prior to their policy anniversary.

Helping you manage these changes with your clients

We’ve prepared some tools to help you support your clients through these changes, including:

• Anniversary notices – Available on the TAL Adviser Centre (TAC) up to 45 days prior to your client’s policy anniversary, so you can see exactly what’s changing.

• Alteration for Affordability Guide - TPP – A practical summary of changes you might explore with your clients to help manage the cost of cover. It includes changes you might discuss such as adjusting waiting periods and managing cover amounts, with indicative premium saving percentages. You can access a copy of the guide here.

• Renewal Reports – Accessed via your Reporting menu on TAC, these show updated premiums and renewal retails to support your client conversations.

We remain committed to providing affordable, competitive and trusted cover, offering options and the flexibility to adjust as your clients’ needs change.