With total permanent disability (TPD), we can insure you for a lump sum amount if you are so disabled that you will never work in your own occupation ever again.

There is an any occupation version but we prefer not to use this unless we have to.

In the business insurance area we refer to it as commercial death, it can do similar things to life cover the major difference is the life insured is still alive.

TPD can be used for many things, but as a lump sum for the situation of permanent disability it is often only useful in larger amounts, like paying off mortgages, providing for future income or buying out business partners.

The two flavours, Own and Any occupation do need to be understood.

Any Occupation can be complicated to get a claim paid, certainly for white-collar workers. The general definition for a claim is ‘so disabled that you could not perform an occupation you are suited to by education, training or experience.' This leaves things wide open to stacking shelves, especially if you did as a school kid at the supermarket.

Own occupation is pretty straight forward in comparison, if you can’t do your own occupation because of a permanent injury or illness and you are so disabled that you will never return to your own occupation ever again, then this version would pay.

The Own occupation cover used to be restricted to office workers and professions, we can now access this for those in the trades where any occupation was only available in the past.

Like Trauma Cover, keeping an eye on the timeframes is an important consideration. 3-6 months to assess a claim is not unusual and in some circumstances, though the policy says 3 months it can take longer for the medical professionals around you to diagnose you as permanently disabled. What you have to watch are some policies that stipulate the measure of a TPD is at 24 months, as some do.

If you want to chat about your situation or you have questions please ‘Get in Touch’