Achieving some financial security if you suffer total and permanent disability
- Find comfort in knowing your family will receive a “lump sum” payment to assist them financially if you were to become terminally ill.
- Receive financial support if you become seriously disabled, maintain your quality of life and help meet the cost of rehabilitation programs and daily living expenses with TPD insurance
The cover is designed to pay the insured a lump sum in the event of the death (as per above) or total and permanent disablement of the life insured. This requires the insurance company assessor to be satisfied that a claimant will never return to their occupation or one for which they are suited by education, training or experience. The preceding section, which is shown in bold type, is not included with some of the better and usually more expensive policies. The issue of whether a claimant is “totally and permanently disabled” has been the subject of litigation by disgruntled unsuccessful claimants. Nevertheless, this form of insurance does provide more comprehensive cover than death cover alone.
