Total and Permanent Disablement (TPD) Insurance
TPD pays you a lump sum benefit if you are unlikely to work again due to a permanent disability. TPD insurance can be added to a Term Life policy as an additional benefit, or can be provided as a standalone policy.
TPD Insurance provides financial assistance at a time when you may have significant medical and other costs associated with permanent disablement. No one wants to worry about money when they suffer a disabling injury. The reality is that rehabilitation can be expensive and last a long time, at times involving large medical costs or even major alterations to the family home.
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 available when TPD is taken in conjunction with Term Life (not available in SuperWrap)
- Buy back benefit available when TPD is taken in conjunction with Term Life (not available in SuperWrap)
- Protection against inflation
Full details of these features are available in the Product Disclosure Statement.
BT Portfolio Services Limited ABN 73 095 055 208, AFSL No. 233715 (BTPS) arranges the issue of the BT Life Protection Plans (Wrap and Wrap Essentials) by Westpac Life Insurance Services Limited ABN 31 003 149 157, AFSL No. 233728 (Westpac Life).
BTPS adminisites BT Life Protection Plans (SuperWrap and SuperWrap Essentials). Trust Company Superannuation Services Limited ABN 49 006 421 638 is the trustee and issuer of SuperWrap and Westpac Life is the insurer.
Westpac Banking Corporation ABN 33 007 457 141 is a distributor and is not responsible or liable for payments under BT Life Protection Plans.
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.
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