WEALTH CREATIONS

Total & Permanent Disability Cover

TPD Cover pays a one-off lump sum of up to $5m (with most insurers) if you are totally and permanently disabled due to illness or injury.

 

There are 2 forms of TPD definitions:

• Own Occupation - you need to satisfy us that you're unlikely to engage in your own occupation ever again. This definition is easier to satisfy that 'any occupation', but is also more expensive

• Any occupation - you need to satisfy to the insurer that you're unable to engage in any occuapation for which you are reasonably suited by education, training or experience and which would pay remuneration at a rate greater than 25% of your earning during your last consecutive 12 months of work.

 

You can choose TPD Cover as a stand-alone policy, or combine it with a Life or Trauma Policy, in which most insurers will provide discounts for packaging.

 

TPD Cover is available both outside and inside super, however note that for policies inside Super you must satisfy a condition of release under superannuation law to be paid a TPD benefit.

 

Did you know?

Over 4 million people in Australia (18.5%) report having a disability