Total & Permanent Disablility (TPD) Insurance

TPD Insurance provides a lump sum payment if you’re totally and permanently disable.

Depending on your  policy , you are covered if you can’t work again in “any occupation”(that you are reasonably suited to by education, Training or experience) or can’t work in your own occupation (your usual occupation or chosen field of employment)

TPD insurance can be used to help cover rehabilitation costs, repayment of debts and the cost of living for you and your dependants. Payments are not usually made until the disability has been evident for six months, and the insurer deems that you are unlikely to work again based on the definition in your particular policy. It can specifically:

  • Pay for lifestyle changes and
  • Pay off debts
How much cover is enough ?

It’s important for you choose the right level of cover for you and your family’s needs.

Think about your financial commitments and how long they last and choose a TPD Insurance benefit that complements your life, Trauma and Income Protection Insurance cover.

Case Study
Situation : 45 year old couple with two teenage kids and a $150,000 mortgage with the father earning $90,000 a year and the mother providing full time home care. The father suffers a cycling accident and breaks his back, becoming partially disabled and is unable to continue work in the same or similar vocation indefinitely.TPD Insurance pays him $500,000 allowing the family to pay off the mortgage, refit the home to allow for greater mobility, pay for a carer, and provide an initial income stream.

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