Total and permanent disability (TPD) insurance
Total and permanent disability generally means a person is disabled to the extent that they are unlikely to ever be employed again in the type of work that they are qualified to do or any type of work. TPD insurance pays a lump sum benefit upon the insured’s total and permanent disability due to illness or injury. TPD insurance will assist you in meeting one-off and ongoing living expenses, similar to life insurance, as well as covering extraordinary expenses such as medical and rehabilitation costs and home alterations.
Benefits from TPD insurance depend on satisfying specific criteria, which define the genuine nature and extent of the disability. This can vary between different insurers. These criteria usually include a range of specified permanently disabling conditions, such as paraplegia, as well as more general criteria that relate to your total and permanent inability to work.
