Total & Permanent Disability Insurance

This benefit provides that in the event that you can no longer continue your occupation due to illness or disability you will receive a lump sum that may be tax free.

There are two categories/definitions of TPD benefits either 'Own occupation' or 'Any occupation' and at application you can choose the one that best meets your requirements.

The proceeds of this benefit will enable you to:

  1. Meet medical and associated expenses.
  2. Repay your mortgage and other liabilities.
  3. Provide a reserve to fund income as a result of reduced benefits from your income protection policy.
  4. Provide a fund to meet expenses in retirement.

This type of policy can be funded personally or in Superannuation and advice must be sought to ensure you structure your insurance appropriately.