Total Permanent Disability

Helping you navigate the transition when disability affects your life.

What is Total and Permanent Disability?

Total permanent disability insurance provides a lump sum payment if you become permanently disabled or unable to work.

While it’s hard to fully imagine how life might change if faced with a total or permanent disability, the impact can be significant for you, your family, and even your business. This cover offers you and your loved ones valuable financial support and time to adjust. It can help with extra costs that may arise, such as special care, rehabilitation, replacing a family member’s income if they become your caregiver, or modifying your home to suit your needs.

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How does Total Permanent Disability (TPD) cover differ from income protection?

Total permanent disability (TPD) insurance is different from income protection because it pays out as a lump sum, rather than monthly installments. You can also choose to extend your cover beyond retirement age right up to age 100 if you like!

While it can be more challenging to make a claim on TPD compared to other types of insurance, this is reflected in the pricing. Another important difference is that TPD cover isn’t just for those in paid employment, it can also protect homemakers, students, and others not currently working.

Are there different types of TPD cover?

Like all insurance, policies vary when it comes to occupation cover. Some policies protect you if you can’t work in your specific job, while others cover you if you’re unable to work in any occupation.

Each insurer has slightly different wording in their policies, so it’s important to discuss the details with your advisor. They’ll help you understand the terminology and make sure your policy is set up to best suit your needs.

Do I really need TPD Cover?

While some types of insurance may seem similar, each serves a unique purpose and offers different kinds of protection for various situations. It’s wise to have multiple types of cover in place to make sure you’re protected against a range of life-changing events.