Following the interest in the experimental realization of laser cooling for thallium fluoride (TlF), determining the potential of thallium chloride (TlCl) as a candidate for laser cooling experiments has recently received attention from a theoretical perspective [Yuan et al., J. Chem. Phys. 149, 094306 (2018)]. From these ab initio electronic structure calculations, it appeared that the cooling process, which would proceed from transitions between a3Π0 + and X1Σ0 + states, had as a potential bottleneck the long lifetime (6.04 µs) of the excited state a3Π0 +, that would make it very difficult to experimentally control the slowing zone. In this work, we revisit the electronic structure of TlCl by employing four-component Multireference Configuration Interaction (MRCI) and Polarization Propagator (PP) calculations and investigate the effect of such approaches on the computed transition dipole moments between a3Π0 + and a3Π1 excited states of TlCl and TlF (the latter serving as a benchmark between theory and experiment). Whenever possible, MRCI and PP results have been cross-validated by four-component equation of motion coupled-cluster calculations. We find from these different correlated approaches that a coherent picture emerges in which the results of TlF are extremely close to the experimental values, whereas for TlCl the four-component calculations now predict a significantly shorter lifetime (between 109 and 175ns) for the a3Π0 + than prior estimates. As a consequence, TlCl would exhibit rather different, more favorable cooling dynamics. By numerically calculating the rate equation, we provide evidence that TlCl may have similar cooling capabilities to TlF. Our analysis also indicates the potential advantages of boosting stimulated radiation in optical cycles to improve cooling efficiency.