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Protect your family from tomorrow's loose ends and enjoy life today.

Read the FAQs

Honest Answers

A Final Expenses Plan is about affordable peace of mind, knowing that you have helped to plan for financial loose ends.

Other may call it “fine print”, but at InsuranceLine we think it’s important to be upfront and honest with you. So here are some important things that you might want to know about the Final Expenses Plan.

If there’s anything else you’d like to know about the Plan, please call us on 13 77 87 and we’ll be happy to answer your questions. Our Product Disclosure Statement which you should consider, provides more details. Please refer to our General Advice Statement.

Note: For any Product Disclosure Statements (PDSs) previously issued by TOWER Australia Limited, from 1st June 2011, any reference to TOWER Australia Limited is to be replaced by TAL Life Limited.

Q: What's covered and what's not?

A: During the first 12 or 24 months, depending on your selection, you’re covered for Accidental Death only. This period is known as the Accidental Death Period.

If, during the Accidental Death Period you die from any cause other than Accidental Death, you will not be covered, however, we will refund 100% of your premiums paid.

After the Accidental Death period you’re covered for any cause of death and Terminal Illness.

Accidental death means a death cause solely by violent, accidental and external and visible means. Accidental Death does not include death by illness or sickness.

Q: Can I get cover at any age?

A: Permanent Australian residents aged 50 to 75 are guaranteed acceptance. You’ll need to answer a few easy medical questions to determine how much your cover will cost.

If you wish to cover someone younger than 50 on your plan, that’s fine. Of course, we’ll still need to ask them the same easy health questions.

Q: How much cover can I get?

A: Up to $30,000 per person.

Q: When does my cover stop?

A: Your plan will end when:

when you stop paying your premiums
all benefits under your plan have been paid (whether for Accidental Death, death or Terminal Illness).
you reach age 90 – your full cover amount will be paid out to you and no more premiums are payable. That’s right; you receive the full cover amount on your 90th birthday no questions asked. You’ve earned it!

Q: Will my premiums ever go up?

A: You’ll never be singled out individually for a premium rate increase. However, it’s important to note that the current premium rates aren’t guaranteed. If there is an increase, it will apply to all policy holders on the same rates as you. You’ll be given at least 30 days notice of any such increase.

Premiums will also rise if you:

add another person to your policy,
increase your level of cover,
selected the Stepped or Five-Yearly-Stepped premium type, or
selected indexation.

Q: What is indexation?

A: To ensure your cover amount is not eroded by the rising costs of living, if you select the indexation option, your cover amount is increased every year by an amount equal to the change in the CPI (Consumer Price Index) or 5%, whichever is the greater. Naturally, a corresponding increase will apply to your premium.

Q: What are Stepped, Five-Yearly-Stepped and Level premiums?

A: If you choose a Stepped or Five-Yearly-Stepped premium, your premium will be linked directly to your age. Yearly Stepped premiums will increase each year as you get older. Stepped premiums make your Plan even more affordable to start.

Five-Yearly-Stepped premiums will remain set for each five year period at a time. Five-Yearly-Stepped premiums enable you to tailor your premiums to your specific personal needs.

If you choose a Level premium, your premium will be set for the duration of your Plan. Level premiums can help with budgeting, as you know in advance, how much you will be paying.

Q: Are my premiums tax-deductible?

A: Generally, premiums are not tax deductible nor will the payout be assessable for tax purposes. The taxation information in this document is based on the continuation of present laws and their current interpretation and is a general statement only.

Q: What happens if I stop paying my premiums?

A: You will lose valuable cover.
The cover provided by the Final Expenses Plan will stop. We will inform you in writing that your cover has ceased. It is important to let InsuranceLine know immediately if you cannot pay a premium to help work out an alternative arrangement.

Q: If I cancel my policy will I get a refund?

A: If you cancel within the first 30 days of your policy being issued you will get a refund of all premiums paid. The Final Expenses Plan is a life insurance policy (not a savings plan). It’s intended to primarily cover funeral and other expenses. However, if your initial cover is over $15,000 and you’ve selected the level premium option you will get some money back (a ‘surrender value’) if you cancel your policy after 3 years. If you cancel after the first 30 days you will not be entitled to any premium refund.

It’s easy as. One phone call can help you plan for financial loose ends. Acceptance is guaranteed for permanent Australian residents aged 50-75. Just call 13 77 87 or apply here

(That's less than a cuppa!)