TAL simplifies access to premium discounts with updated program

TAL simplifies access to premium discounts with updated program | Insurance Business Australia

Life & Health

TAL simplifies access to premium discounts with updated program

Report published, outlines company’s impacts on customers, partners, and communities

Life & Health

By
Roxanne Libatique

TAL has introduced updates to its preventative health program, TAL Health Sense Plus, simplifying the process for customers to receive premium discounts for participating in routine health checks.

The revisions remove the need for customers to submit body mass index (BMI) information or upload proof of a preventative health check to qualify for the discount. Instead, customers only need to confirm that they have completed a health screening to be eligible for the discount on their premium.

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TAL Health Sense Plus

Originally launched in 2019, TAL Health Sense Plus offers a 5% discount on lump sum premiums every two years to eligible customers who undergo regular health screenings, such as skin checks for early detection of skin cancer.

The discount is available to customers holding Accelerated Protection insurance, either purchased through financial advisers or directly from TAL.

TAL Health Sense Plus updates

Aaron Newman, general manager of individual life product at TAL, stated that the changes were driven by customer and adviser feedback.

“TAL is dedicated to helping customers protect their physical, mental, and financial wellbeing,” he said. “The changes we’ve made to Health Sense Plus are based on feedback from customers and advisers, and designed to increase discount uptake, enhance loyalty and encourage healthy behaviours.”

He said that the changes aim to encourage more customers to undergo health screenings that can identify serious conditions.

“We want more customers to benefit from screening tests, which can detect and prevent many serious conditions, including cancer, diabetes, and heart disease. We also hope to help advisers initiate more conversations with clients around the benefits of holistic health and the value of maintaining their insurance cover,” he said.

These program updates are also intended to support advisers in initiating conversations with clients about the importance of maintaining their health and the value of their insurance coverage.

“TAL Health Sense Plus is one of the ways we are building enduring relationships with our customers, helping them understand the value of their insurance and making it easier to maintain their cover,” Newman said.

Importance of preventative screenings

Dr Priya Chagan, general manager of health services at TAL, underscored the role of preventative screenings in improving health outcomes.

“TAL is focused on helping people live a healthy and full life by bridging the gap between awareness and action,” she said. “We’re investing in TAL Health Sense Plus because we know that prevention is better than cure and early action leads to better health outcomes for customers; this makes good health sense and good business sense, too.”

TAL’s Contribution 2023/24 report

The timing of these updates coincides with the release of TAL’s Contribution 2023/24 report, which outlines the company’s broader impact on customers, partners, and the Australian community.

The report highlights TAL’s commitment to sustainability and its approach to addressing environmental, social, and governance (ESG) issues.

Among the report’s findings are key figures such as a $4.2 billion payout in claims and a +51 net promoter score (NPS) for customer experience in the 2023 fiscal year.

Commenting on the claims paid, a joint statement from TAL chair Mark Joiner and group CEO and managing director Brett Clark said: “More than 70% of claims paid were to customers recovering from illness or injury or adjusting to life with a permanent health condition. Through the claims we pay and the additional health support services we provide, we were able to help more Australians get back to building the life they planned for themselves and their families.”