Total & Permanent Disability
TPD Insurance or Total & Permanent Disability Insurance provides a lump sum in the event that the person insured becomes totally or permanently disabled. The cover is designed to help discharge any outstanding debts or commitments you might have, help with your ongoing living expenses and help pay for medical costs while you are disabled. This type of cover is usually combined with Term Life or Trauma insurance.
The amount of disability cover required varies on the amount of debt you and/or your family may have.
Are there different Types of TPD Insurance?
There are currently four main types of total and permanent disability cover available. These are:
Own occupation - Is where the insured is unlikely to work in their own occupation for the remainder of their working life.
Any occupation - Is where the insured is unlikely to work in their profession, business or similar occupation to which they are qualified or fitted by education and experience for the rest of their life.
Home duties – are where the insured is unable to engage in any normal domestic duties for a continuous period of at least three months.
Modified – This is where the insured is permanently and totally unable to perform without physical help from a carer or helper. It would also apply where they suffer a cognitive impairment requiring permanent and constant supervision and has been disabled for 3 preceding months and will continue to be disabled in the future.
Contact us today
Enquire about our comprehensive Life Insurance and Income Protection options. Please contact a Knightcorp Financial Advisor to discuss your details further.
Knightcorp Financial Services Pty Limited ABN 44 154 765 054 is a Corporate Authorised Representative (No. 418807) of ClearView Financial Advice Pty Limited ABN 89 133 593 012 AFS Licence No. 331367 GPO Box 4232 Sydney NSW 2001
This website is intended to provide general information only and the information has been prepared without taking into account any particular person's objectives, financial situation or needs. Before acting on such information, you should consider the appropriateness of the information having regard to your personal objectives, financial situation or needs. In particular, you should seek independent financial advice and you should read the relevant Product Disclosure Statement (PDS) before making any decision about a product.