Tower Australia

Tower Life Insurance

Like many other insurance corporations, Tower is a large corporation focused on life insurance, superannuation and investments, and shareholders.

Under the personal insurance of the life insurance, Tower provides life protection plan, crisis protection plan, income protection plan, accelerated protection, income protection plan plus, funeral plan, and a life insurance calculator (this is not a plan but just a quick way to approximate the costs). The “life insurance” used in other companies correspond to the life protection plan. This plan is only valid if the insured’s Policy Certificate states this policy, and can be owned directly by the insured, with the insured’s superannuation fund, or through the Tower superannuation fund.

The life protection plan comes with many benefits like death benefit, terminal illness benefit, inflation protection benefit, advanced payment benefit, financial planning benefit, premium freeze benefit, accommodation benefit, guaranteed personal insurability benefit, and guaranteed business insurability benefit. With additional cost, the insured may get total and permanent disability benefit, premium relief option, death buy-back on total and permanent disability, and business insurance option. It is, however, crucial to note that not all options apply as they are dependent on other options, especially total and permanent disability benefit. For instance, the death benefit and total illness benefit do not apply if the insured just has a total and permanent disability policy.

In fact, the Policy Product Disclosure Statement from Tower clearly states that these conditions and benefits are written in the way to accommodate various cases and scenarios. Also, this plan also has stepped and level premium options.

Use the form on the right hand side of this page and one of our expert consultants will call you to discuss your specific needs; in most cases we are able to tailor a Life Insurance policy to your needs. We can also help you decipher anything you do not understand and provide you with a free, no obligation, life insurance quote.