New member content: learning the value of insurance

Helping members understand the value of their insurance  

According to data analysis from ASFA, 33% of Australians are unaware that they have life insurance through their super fund, and 44% don’t know how it works or what they have in place.¹  However, this cover provides a vital safety net for millions of members – many who may not have any other form of life insurance. 

At TAL, we know firsthand the life changing impact that insurance in super can have when they need to make a claim. Paying claims is the most important thing we do – and in the last financial year, we accepted 94%² of all claims assessed – that’s $2.5 billion in claims paid to 31,822 superfund members holding TAL insurance.³

Compare claims and claims related disputes performance⁴

New member articles

To help your members understand and value their insurance through super, we’ve developed two new articles that you can share with your members as part of your engagement communications. This content is now available in the Group HQ Member Content hub under ‘Value of Insurance’. We’ll let you know when more content is available to help your members get the most out of their cover.  

ARTICLE 1: What types of insurance are available through super? 

This article gives members an overview of the types of cover available through their super: Life, TPD and Income Protection. It explains what each cover type is for and how claims are paid.  

ARTICLE 2: Common questions about insurance through super 

This article explains some of the differences between insurance inside and outside super, along with tax considerations and options to adjust cover levels. Members can use this information to make well-informed decisions regarding their insurance requirements.

¹ ASFA Research Centre, based on APRA annual statistics (June 2019)
² Claims statistics based on total claims paid under TAL Life Limited and TAL Life Insurance Services Limited insurance products (including funeral insurance) between 1 April 2023 and 31 March 2024.
³ TAL Our Contribution Report 2023/24 
⁴ Money smart.gov.au The data covers 1 Jul 2023 to 30 Jun 2024