What is Total and Permanent Disablement (TPD) insurance?
Total and Permanent Disablement (TPD) insurance pays a lump sum benefit if you are unlikely to work again due to a permanent disability.
This money is often used to:
- clear debts
- invest and then draw down to replace lost income
- pay for medical expenses and rehabilitation
- pay for home modifications
TPD insurance provides financial assistance at a time when you may have significant medical and other costs associated with permanent disablement.
If your family relies on your income, TPD insurance reduces the likelihood of your family suffering financial distress in the event that you are unlikely to work again due to a permanent disability. You will have money for expenses such as rent or mortgage payments.
TPD insurance can be added to a Term Life policy as an additional benefit, or can be provided as a standalone policy.
Key features
- Your choice of 3 TPD definitions with cover until the age of 99 years
- Partial Benefit on partial disablement (not available in SuperWrap)
- Limited Death Benefit
- Financial Planning Benefit (not available in SuperWrap)
- Waiver of life premium option as part of Term Life (not available in SuperWrap)
- Buy back benefit
Full details of these features are available in the Product Disclosure Statement.
Learn more about Types of insurance
- What are the types of cover within insurance?
- What is Term Life insurance?
- What is Total and Permanent Disablement insurance?
- What is Living Insurance?
- What is Income Protection?
Did you know?
Living Insurance (sometimes referred to as trauma insurance or critical illness) pays a lump sum benefit if you suffer from one of a range of specific medical conditions such as cancer, a heart condition or loss of a limb.
Income Protection insurance replaces up to 75% of your income while you are unable to work due to sickness or injury.
