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Total & Permanent Disability Insurance

Total and permanent disability insurance (TPD) Is a lump sum payment to you, if you become totally and permanently disabled because of illness or injury.

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There are 2 definitions when it comes to TPD insurance. 

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  • Own occupation - unable to work with in the job you are working in and is usually only available outside of super.

  • Any Occuption - unable to ever work again in any job suited to your education and training. this is usually a cheaper cover but has a higher threshold to claim. 

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All insurers have different definitions, so it is recommended to read the PDS if ever unsure. 

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Benefits of
TPD Insurance

If you become permanently disabled and you are not able to work, this insurance will provide a lump sum payment to help with the following things:  â€‹

  • Helps to pay off  an existing debts

  • Funds to help make modifications to your home

  • Helps support future living expenses

  • Helps to pay any medical expenses

  • Helps cover lost future income

  • Cheapest insurance (although can only claim when totally and permanently disabled)

Covermate Life

contact@covermatelife.com.au
706 / 35 Spring Street
Bondi Junction, NSW, 2022

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This website is published by Covermate Life Pty Ltd. Covermate Life Pty Ltd 1311570 are authorised representatives of Wealth Today Pty Ltd (ABN 62 133 393 263), AFSL 340289. The information contained in this website and any of the resources available through it has been prepared for general information purposes only and is not (and cannot be construed or relied upon as) personal advice. No investment objectives, financial circumstances or needs of any individual have been taken into consideration in the preparation of the Content. Financial products entail risk of loss, may rise and fall, and are impacted by a range of market and economic factors, and you should always obtain professional advice to ensure trading or investing in such products is suitable for your circumstances. 

Under no circumstances will any of Covermate Life Pty Ltd, Wealth Today Pty Ltd, its officers, representatives, associates or agents be liable for any loss or damage, whether direct, incidental or consequential, caused by reliance on or use of the Content. This Content is restricted to Australian residents and is for the intended recipient only. From time to time, Covermate Life Pty Ltd representatives or associates may hold interests in or transact in companies or products mentioned herein, and may receive fees or other benefits, in connection with the making of any recommendation or facilitating a transaction in such companies or products. 

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