Total Permanent Disability

Around 50% of Australians aged over 30 will suffer a major illness that can lead to long term disability and long term loss of income^.

We can’t always plan against life’s unexpected events but we can plan to protect our future. Total and Permanent Disability Insurance (TPD) cover offers protection and financial peace of mind if you become totally and permanently disabled. The lump sum payment provided as part of this cover may be used for mortgage payments, debt reduction, medical or nursing expenses and medically required home modifications.

TPD can be taken as a stand alone insurance policy or as an optional extra to term life cover. This valuable cover provides a lump sum payment in the event of total and permanent disablement.

There are two types of TPD covers:

1. Own occupation - where the payment is made when you are unable to perform your own occupation (this is important for specialist occupations).

2. Any occupation - where you are able to claim if you are unable to perform any occupation that you are suited to by education, training, or experience.

The lump sum payment is often used to provide funding for long term care, extinguishing debt, providing education and living expenses for your children.

Like life insurance TPD can be held inside a superannuation environment – to find out more call us on 1800 000 001.

^Source: National Centre for social and economic modelling, ‘income and wealth report’ issue 4 March 2003.