Upcoming premium rate changes for TAL Accelerated Protection and Protection Plans

What's changing, when it applies and how we're supporting you and your clients. March 10, 2026

We regularly review our claims experience and the costs associated with providing cover to ensure our products can continue to support your clients when they need it most.

In recent years, our claims experience has shifted – particularly in our Total and Permanent Disability portfolios. Claim volumes and average claim sizes have increased, and recovery outcomes for certain conditions, particularly those related to mental ill-health, are becoming more complex and varied.

As a result, premium rate changes will apply to some existing TAL Accelerated Protection and Protection Plans (formerly BT, Westpac and St.George) policies over the coming months.

We’re very aware of cost pressures facing customers. These changes have been carefully considered, and we’ve worked to keep increases as measured as possible. At the same time, we’re continuing to evolve our product options to better reflect how Australians live, work and recover. We’re expanding our range of support tools and options to help you and your clients retain their valuable cover.

● Coming Soon

TPD Support Option for existing customers

As recovery patterns have evolved, particularly for mental health conditions, the way cover and support are structured must evolve too.

Our TPD Support Option, already available for new customers, will soon be made available to eligible existing customers. It supports recovery where possible, while maintaining long-term security for those who remain permanently unable to work.

It delivers more affordable premiums, and a TPD structure designed around how people live.

What's changing?

Premium rates are changing for some existing TAL Accelerated Protection and Protection Plans policies. The impact differs between the two portfolios, reflecting differences in portfolio composition and claims experience. While most benefits will have a premium rate increase applied, individual customer outcomes will vary – including customers who will see no change or a decrease.

Below we've outlined what's changing for each portfolio separately.

TAL Accelerated Protection

Premium rate changes will apply to TAL Accelerated Protection policies issued under a PDS dated between 10 August 2009 and 8 September 2023. Changes will take effect from each customer's next policy anniversary on or after:

1 June 2026 — for policies issued under a PDS dated up to 5 August 2022
1 December 2026 — for policies issued under a PDS dated 8 September 2023

The table below outlines average premium rate changes at a benefit level:

Cover Type	Average Premium Rate Change
Total and Permanent Disability (TPD)*	13.8%
Critical Illness	4.4%
Income Protection (IP)**	4.7%

* TPD increases will generally be higher for benefits with Own Occupation definitions.
** IP Benefit Periods up to 5 years will receive premium rate decreases or no charge, unless the optional Accident Benefit Option has been selected.

Premium rates will not be changed for the following benefits:

Life Insurance Cover
Child Critical Illness Cover
Income Protection (IP Assist, Focus, Enhance or Extend) issued under a PDS dated on or after 24 September 2021
Income Protection Optimal
Business Expense Insurance

Policies issued under a PDS dated from 12 December 2024 are not impacted.

Protection Plans

Premium rate changes will apply to existing Protection Plans policies (excluding those issued prior to 1 March 1998). Changes will apply from each customer's next policy anniversary on or after 1 July 2026.

Cover Type	Average Premium Rate Change
Total and Permanent Disability (TPD)*	24.8%
Living Insurance	8.6%
Income Protection (IP)**	5.9%

* TPD increases will generally be higher for benefits with Own Occupation definitions.
** IP Benefit Periods up to 5 years will receive premium rate decreases.

Premium rates will not be changed for the following:

Death Benefit
Income Protection Assured / Income Protection as Superannuation Assured / Business Overheads Assured
Children’s Benefit
Needlestick Benefit

These increases shown are averages and are in addition to changes that may normally apply to the policy including (but not limited to) age-based increases. Individual customer impacts may be higher or lower, depending on their personal circumstances and the benefits they hold. We’ll write to your clients ahead of their policy anniversary to confirm their new premium and the date it takes effect.

Supporting your client conversations

We know conversations about premium changes aren't always straightforward. That's why we've prepared a range of tools to help you identify impacted clients, understand what's changing and explore options where affordability is a concern.

You can access the following resources via the TAL Adviser Centre (TAC):

Renewals Dashboard New

Our new Inforce Management allows you to view clients with upcoming policy anniversaries within the next 45 days. Soon, we'll be introducing a flag so that advisers can see at a glance those who have been impacted by pricing changes.

Client Communications

View and download your client’s anniversary notice from the TAC so you can see what’s changing ahead of their policy anniversary. For Protection Plans customers, you’ll also be able to access a copy of the Significant Event Notice (a requirement under the policy terms).

Client Reporting

Accessible through the Reporting menu on TAC, these downloadable reports show a full listing of renewal details and updated premiums. Reports are available 90 days prior to anniversary for Protections Plans customers and 45 days prior for TAL Accelerated Protection customers.

Alterations for Affordability Guide

Practical summaries of changes advisers might discuss with their clients to help manage the cost of cover. It includes adjustments they might consider including waiting periods and cover amounts.