Total and Permit Disability Insurance
Total and Permanent Disablement (TPD) Cover pays a lump sum should you become totally and permanently disabled, or partially and permanently disabled through sickness or injury. If you are TPD, it could create an adverse financial burden, preventing you from earning an income at a time when you may have ongoing expenses and medical and/or rehabilitation expenses.
Your family can suffer from your disablement both financially and emotionally. By helping to ease financial concerns, TPD benefits go some way towards easing the effects on you and your family.
To be classified as TPD two things must occur:
- you must suffer a sickness or an injury
- the sickness or injury must result in total and permanent disablement.
It is important to note that there are different definitions of TPD for different insurers. Most importantly, it relates to the definition of what work you are not able to perform.
Accidental TPD Insurance
Similar to TPD insurance but accidental TPD insurance will only pay a lump sum benefit if you are totally and permanently disabled as a result of an accident
You have to carefully examine the definitions of TPD in the policy’s PDS and Policy Document.