Total and Permanent Disability (TPD) is your financial back-up plan. It provides you with a lump sum in the event of permanent disability, buy providing a one-off payment that can help you:
- fund lifestyle changes and home modifications
- cover the cost of long term medical expenses
- pay off and debts
- fund ongoing income for your family
The level of cover will depend on your own personal circumstances and we would be pleased to assist you in determining the most suitable level of cover. TPD insurance can be included in a policy with your death cover, or as a standalone policy, either in or outside of superannuation.
Please note however, if the TPD is included in a superannuation policy, it is subject to the same preservation rules as your super fund and may also be taxed if the funds are withdrawn prior to age-60.