Total & Permanent Disability Insurance, or TPD, means that even if you have an accident or injury that leaves you permanently disabled, you can continue enjoying the lifestyle you’ve been working hard to create.
Wei has been working in child care for the past 16 years, and has finally bought her first home – a beautiful old villa she is planning to renovate.
However, Wei is involved in a serious car accident on the way home from work one evening. She sustains a number of permanent injuries which limit her mobility, and is permanently unable to work as a child care professional – the job she has trained for and has experience in.
As part of her insurance plan, Wei has Total & Permanent Disability Insurance for her occupation as a childcare professional, which gives her a lump-sum payment – enough to pay off the mortgage on her home and complete the renovations she has planned.
The above example is illustrative only of how TPD Insurance can work.
Other types of life insurance you have, especially through your super fund
How much income you and your family will need to live if you can't work for a while or forever
What help or family assistance is available to you
Whether you could sell your home and move somewhere else to reduce debt
What government benefits or workers compensation could be available to you