Medical Officer

Longevity risk solution to be launched. Platform provider Hub24 has teamed up with life insurer TAL to develop a lifetime retirement income solution that is expected to be available on its platform in the first half of 2026. Hub24 explained the lifetime income solution would help advisers provide their clients with greater confidence and security throughout their post-work years by addressing one of their biggest concerns - the risk of outliving their retirement savings. This sentiment was reflected by recent UniSuper research, which found 68 per cent of Australians are afraid of running out of money in retirement. Further, Hub24's own analysis showed 52 per cent of pension members are only withdrawing the legislated minimum pension amount in an effort to manage their longevity risk. The new solution announced today is designed to allay some of these concerns by providing an income for life. "As a market leader, Hub24 has an important role to play in delivering solutions that enable financial advisers to support their clients through all the stages of their life, including planning for a fulfilling and secure retirement," Hub24 chief executive Andrew Alcock said. "We're delighted to be collaborating with TAL to deliver our innovative retirement income stream solution, providing more choice for advisers and their clients." The new solution is aimed at optimising outcomes for individuals if they transition from a lifetime super account to a lifetime income account when they retire. Hub24 also pointed out it could improve eligibility for means-tested age pension concessions depending on how early somebody adopts the solution. "We believe lifetime income solutions can play a fundamental role in helping more Australians achieve confidence in their retirement. We are excited to be working with Hub24 and the advisers using their platform to provide clear and accessible retirement options for their clients," TAL group life and retirement chief executive Jenny Oliver acknowledged. Hub24 also recently launched a platform and managed portfolio solution for clients with lower balances or less complex needs, called Discover, and Private Invest, which provides access to wholesale investment solutions for high net worth clients.

IGP partners with TAL Life to expand captive access in Australia. TAL Life Limited Australia (TAL) joins the International Group Program (IGP) Network as its new partner in Australia. The new partnership, announced in October 2025, enables multinational companies operating in Australia to incorporate group life insurance plans with TAL into multinational pooling or captive reinsurance arrangements. The inclusion of Australia's leading life insurance specialist into the IGP Network provides global brokers and multinational clients with greater flexibility in designing employee benefits. This allows them to design benefits that better align with global benefit strategies and enhance the employee value proposition in the local market. The partnership covers group life insurance plans, including Death, Total Permanent Disability (TPD), and Income Protection. TAL is Australia's leading life insurance specialist, protecting over 5 million Australians and, in FY2024/2025 alone, pays AUD 4.7 billion in claims. As part of the Dai-ichi Life Group, TAL brings global scale, deep local expertise, and a strong commitment to innovation to the network. Currently, group life and disability insurance in Australia is predominantly provided through superannuation funds due to regulatory design, cost efficiency, and broad accessibility. However, as the market evolves, some employers explore complementary, employer-owned insurance solutions to enhance flexibility and align with global compensation strategies. TAL's Income Protection policy offers a monthly benefit of up to 75% of income, capped at AUD 30,000 per month, for employees unable to work due to illness or injury. Additionally, TPD insurance provides a lump-sum benefit of up to AUD 3 million if an employee becomes totally and permanently disabled and unable to work again. Life insurance also provides an uncapped lump-sum payment upon death or terminal illness. The insurer distinguishes itself through its evidence-based health, wellbeing, and support services designed to assist employees recovering from illness or injury. These services are part of the group life offering and include tailored cancer care programmes in partnership with Valion Health, mental health coaching, return-to-work planning, and physical rehabilitation plans. Furthermore, TAL's external Medical Specialist Advisory Board integrates expert medical advice into claims decisions, ensuring the insurer remains aligned with the latest clinical advancements and best practices.