Why Get TPD Insurance
Help To Adjust
Receive a lump sum payment to help you adjust to life with a permanent disability.
Help With Expenses
Financial support to manage debts, and expenses to reduce the financial burden.
Flexible Options
Flexible packages and cover options to tailor the policy to you.
Partnered with over 90% of Australia’s retail insurers
What Is “Permanently Unable to Work" Cover?
"Permanently Unable to Work" Cover refers to Total and Permanent Disability (TPD) Cover. TPD Cover is commonly purchased with Life Cover to ensure there is financial support available if you pass away or are permanently unable to work again. A TPD benefit is paid in a lump sum as cash in the event your medical specialist informs you that you are not fit to return to work again.
Your permanent disability benefit can be used for:
- Medical and rehabilitation costs
- Top up retirement savings
- Manage debt and living expenses
- Any other reason that you choose as there are no restrictions or conditions once the benefit is paid.
What Are The Different Types of Occupation?
When establishing your policy, you will have the choice of which occupational definition to be assessed under in the event of claim.
Your permanent disability benefit can be used for:
- Any Occupation: Due to sickness or injury, you are unlikely to be able to engage in any occupation for which you are reasonably suited given your education, experience or training.
- Own Occupation: Due to sickness or injury, you are unlikely to be able to engage in your own occupation again.
- Non-Working: If you are not working, or are in an occupation which is not eligible for 'own' or 'any' occupation cover, you will have the option of Non-Working TPD. Non-Working TPD will provide a lump sum benefit if you are not able to do your 'Activities of Daily Living', your 'Normal Domestic Duties' or if you lose use of limbs or sight.
Need A Hand?
If you apply for 'Any' or 'Own occupation' TPD, you will automatically be covered under the 'Non-Working' definitions as well. Please refer to your Product Disclosure Statement (PDS) or reach out to one of our brokers if you would like to discuss any of these definitions and how they apply in scenarios.
To request quotes for TPD Insurance, contact us today.
Total and Permanent Disability Insurance Benefits
Common benefits which can be included with TPD Insurance cover. These options can be 'in-built' in to your policy or are available as additional cost options. This is not an exhaustive list so please reach to our brokers or refer to your product disclosure statement if you are unsure.
Life Cover Buy-Back
If your TPD Insurance cover is linked with your Life Cover, in the event of TPD benefit being paid, you will use up your Life Cover to do so. The buy-back option allows you to repurchase your Life Cover after a chosen time period, typically 14 days or 1 year.
Specific Loss Benefit
If you get a specified injury, you’ll receive a percentage of your TPD Insurance benefit. Covered injuries and percentages paid vary by insurer. A common definition is 'loss of use of a single limb' or 'loss of sight in one eye,' where 25% of your TPD benefit would be paid.
Disability Premium Waiver Benefit
Your premiums are waived whilst you’re disabled, allowing you to focus on recovery.
Premium Freeze Benefit
You can 'freeze' your cover and premiums if you become unemployed, keeping your coverage without needing to cancel and reapply later.
Financial Advice Benefit
You can receive a rebate on advice fees up to a certain limit (typically $3,000 inc. GST) when you get financial advice from a certified adviser.
How Much Will TPD Insurance Cost?
At the end of the day, how much your cover costs will be a key determinant in how much cover you choose as it is a balance. We recommend using our quoting tool here or to reach out to our brokers to organise an obligation free, detailed quoting session.
- Your age
- Your medical history
- The amount of cover you want
- Your occupation
- The insurer you choose – different insurers will be more competitive for different circumstances
What Else to Consider
Insurers will often discount cover by up to 15% if your TPD cover is purchased in conjunction with Life, Trauma and Income Protection insurance. Speak with our brokers to ensure your cover is packaged to get the most value.
Why Choose Us For Total And Permanent Disability Insurance?
Transparency
Compare any insurance policy whether it's through your super fund, direct or another retail policy for quality and competitiveness live with our brokers.
Support
We're here every step of the way from learning, comparing, application, maintenance and claims. We're your outsourced Insurance team for no extra cost.
Quality Products Only
Whilst we can compare any policy on the market, just like financial advisers, we only offer high quality policies which are fully underwritten and guaranteed renewable. This means you know what you are and are not covered for upfront and your policy cannot be taken from you unless your choose to or it expires.
1. Contact Us
Our brokers will guide you through available options and help review any existing cover.
2. Apply
If you are happy with your quotes, we'll help you apply to ensure as smooth a process as possible.
3. Acceptance
Once assessed, the insurer will provide you with an offer. You can then choose whether to accept or not.
4. Maintenance
We'll help you review your cover annually to ensure your cover remains competitive.
The People We’ve Helped Get Insured
Fantastic service provided by WeLifeInsure. Wilson was very knowledgeable and made the entire process of obtaining and reviewing personal insurance easy to follow and understand. He was extremely patient in explaining all important aspects and tailoring the policy to individual needs and circumstances. He was also able to give many other helpful pointers, such that it is evident that he always keeps the best interest of the individual at heart. Highly recommended.
Wilson provided comprehensive explanations to my never ending questions and I felt like I was then in a position to make an informed and appropriate decision for my situation. Consideration was given to ensure that I had explored my current insurance and was aware of what I would be giving up if I switched. Thanks Wilson for your excellent customer service. Highly recommend.
Wilson's organised, calm approach to organising my Insurance products with me was seamless. Never felt like a question was too difficult, or silly to ask and the explanation was clear and excellent comparisons were used to help me gauge what level of cover I need. Would recommend his services to friends and family!
Use our Life Insurance Calculator to help determine how much coverage you might need.
Income Protection Insurance FAQs
Start Taking Care of Your Health with the Right Policy
Finding the right policy makes all the difference when it comes to a disability. Don't let such a devastating experience define the rest of your life – get in touch with our team today for a quote.
