Total and Permanent Disablement (TPD)
If you have a serious accident or illness, how will you replace lost income or cover the expenses of lifestyle adjustments such as wheelchairs, ramps and manual car controls. A physical impairment, such as the loss of use of arms, legs or eyes, could change your lifestyle completely.
Total and Permanent Disablement (TPD) can help. It pays a benefit if you are no longer able to work because of an injury or illness.
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Email link:
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Total and Permanent Disablement
Providing financial support to make life easier if you become permanently disabled.
If an unpredictable event happens, financial help is often needed immediately.
TPD cover is available under our Life Cover Plan. TPD can be purchased as part of your Life Cover insurance or as a stand-alone policy.
TPD ‘Any Occupation’
This pays a lump sum payment to you if you are unlikely to ever engage in any occupation to which you are suited due to injury or illness.
TPD ‘Own Occupation’
This pays a lump sum payment to you if you are unlikely to ever engage in your own occupation again due to injury or illness.
Partial and Permanent Disablement
This pays you a partial lump sum benefit of 25% of your TPD Sum Insured for the permanent loss of the use of:
- one arm, or
- one leg, or
- sight in one eye
- Occupation Categories
- Choice of payment options
- Premium Freeze, Benefit Indexation and financial planning reimbursement benefits included
- Worldwide cover
- Conversion to Loss of Independence
- Double TPD
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Product Disclosure Statement
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Benefits and features
Premium Freeze
Allows you to select to pay the same premium as you paid the previous year by reducing your Sum Insured before the Policy Anniversary date.
Benefit Indexation
The Sum Insured on your policy will automatically increase each year by the Consumer Price Index (CPI) or 5%, whichever is higher.
Guaranteed Future Insurability
This allows you to apply for increases in your sum insured without supplying further evidence of health.
Financial Planning Reimbursement
After a claim is paid for death or terminal illness we will reimburse you or your nominated beneficiary/ies the cost of obtaining financial advice to assist with managing or investing your claim payment.
Total and Permanent Disablement Overview
| TPD | TPD Buy-back | Double TPD | |
|---|---|---|---|
| Entry age (next birthday) | 16 and 64 (Occupation Categories AAA, AA, A, B & Home Duties) 16 and 60 (Occupation Category C) 16 and 55 (Occupation Category D) 16 and 50 (Occupation Category E) |
16 and 60 (Occupation Categories AAA, AA, A, B ,C and Home Duties) 16 and 55 (Occupation Category D) 16 and 50 (Occupation Category E) |
16 and 60(Occupation Categories AAA, AA, A, B ,C and Home Duties) 16 and 55 (Occupation Category D) 16 and 50 (Occupation Category E) |
| Expiry age (policy anniversary prior to age) | 70 (Occupation Category AAA, AA & A) 65 (Occupation Categories B, C, D & Home Duties) 55 (Occupation Category E) |
70 (Occupation Category AAA, AA & A) 65 (Occupation Categories B, C, D & Home Duties) 55 (Occupation Category E) |
70 (Occupation Category AAA, AA & A) 65 (Occupation Categories B, C, D & Home Duties) 55 (Occupation Category E) |
| Premium options | Level, Stepped & Optimum | Level, Stepped & Optimum | Level, Stepped & Optimum |
Read Bob’s story…
Bob is 45 and works as a carpenter for a small company that makes bespoke pieces. His boss suggested that all of his staff members take out insurance cover as he wanted them to be looked after properly if anything happened. Bob talked to a financial adviser who suggested that due to his trade he be covered with TPD and Crisis cover.
In 2007 Bob was involved in a car accident and lost his right arm and one eye which rendered him unable perform his job. Fortunately Bob had taken out a TPD policy which paid a lump sum of $445,207 shortly after he was discharged from hospital. Bob was single at the time of the accident and didn’t have anyone to help him financially during this extremely difficult time. Receiving the lump sum claim payment meant that Bob was able to afford his medical bills including paying for an Occupational Therapist and to make modifications to his house. These alterations, plus some home help during the week, were only possible because of the claim payment.
The TPD lump sum payment ensured Bob was able to support himself and live comfortably in his house without having to move.