Total and Permanent Disability Insurance

Total and Permanent Disability Insurance (TPD) is designed to help take the pressure off you financially if you suffer an illness or injury that leaves you totally and permanently disabled. The lump sum benefit paid is often used to eliminate debts, pay for medical expenses or fund permanent lifestyle changes, like moving to a home that is more suitable and accessible for your condition.

It is very important that you choose the correct TPD cover that suits your situation so there are no issues come claim time.

Customer case study

Jay is a 50-year-old Dentist who works locally in Montmorency and has done for many years.

Jay and his wife Lee-Anne bought a holiday home three years ago, which they have been renovating with the plan to move in once all the kids have moved out and are comfortable looking after themselves financially. Jay will work up until that point, which should be in another 5 or so years.  

Six months ago, he was spending another weekend renovating the holiday house. While working, Jay fell through the roof of the house and fell onto his neck fracturing four vertebrae and breaking his ribs, shoulder and suffering a severe concussion.

Jay had always been a big believer in having adequate insurance protection for himself and his family. Many years before, he had worked with his financial adviser and had taken out a comprehensive insurance plan. He had always been careful to keep the plan updated over the years, particularly when major events had happened, such as the birth of his children and the purchase of the holiday home.

Jay had a TPD policy worth $1.5 million with an 'own occupation' definition. After his accident, he received medical advice that while he had the capability to return to some form of work, he could never again work as a dentist. His claim for 'own occupation' TPD was approved and he was paid accordingly.

The payment funded all his medical and rehabilitation bills, and also still enabled him and Lee-Anne to fulfil their plan of retiring to their holiday home once the children had left home. He will also be able to fund the kid’s university fees.

 This is an example only.