Total And Permanent Disability
Total & Permanent Disability Insurance
Life is a gamble. If you become totally and permanently disabled and are unable to work any longer, Total & Permanent Disablement (TPD) coverage may be able to give you a lump sum payment.
The payout will only happen if you suffer a permanent disability arising from illness or injury and this prevents you from ever working again.
Generally you will need to have not worked for a period of three or six months before you can make a claim.
You can use the payment it to eliminate debt, pay ongoing medical expenses, make necessary home modifications, or hire home care services such as nursing, cleaning and cooking.
Total and Permanent Disability (TPD) cover is an add on in your life insurance that pays out if the insured person becomes Totally and Permanently Disabled.
Life Insurance will only payout in the advent of your death.
Not sure what type of insurance you need?
Not sure what is involved or not sure of the cost?
Book a call and we can show you how easy it is to get the right insurance covers in place.
Total & Permanent Disability Insurance
TPD coverage can kick in for a terminal illness or accident and this is why a broker is helpful in setting this up. Together we look at the options including waiting times before being able to make a claim.
TPD insurance is available to anyone from 15 to 65.
You can apply for fixed or extra (fixed) cover, request a change in the amount of your cover, or cancel your cover at any time if you believe the basic coverage you automatically receive is insufficient for your needs.
It is usually purchased as an additional option on with another policy such as life insurance but can be purchased on a ‘stand alone‘ basis.
Insurance Matters QLD can advise you on the appropriateness of this cover.
