Imagine if you were unable to ever work again. This is the situation facing around 516,700 Australians aged between 15 and 65 who have a profound or severe disability as a result of disease, illness or injury*.
What if you were totally and permanently disabled?
Not only would you be unable to earn an income, but it’s likely you would need years of ongoing medical treatment and rehabilitation.
Total and permanent disablement (TPD) cover will provide a lump sum which may assist you:
- pay your mortgage
- meet medical expenses
- modify your home
- provide a replacement income
- pay for a professional carer
What does totally and permanently disabled mean?
There are four main types of total and permanent disability insurance definitions used in
- Own occupation – you have a total and permanent disability that prevents you from working in your own occupation which you disclosed when you applied for the insurance.
- Any occupation – you have a total and permanent disability that prevents you from working in your usual profession or business, or any other occupation for which you are reasonably suited by your education, training or experience.
- Homemaker – you have a total and permanent disability that prevents you from engaging in any normal domestic duties.
- Modified TPD – you have suffered from a loss of limbs, loss of independent existence or cognitive loss, and will generally need assistance with normal life functions.
We can explain the practical differences between these definitions and help you choose a policy that suits your needs.
By having TPD cover, even if the unexpected occurs, you and your family have the financial resources to help you maintain your quality of life.
* Australian Bureau of Statistics (2010) Disability, Ageing and Carers,