If you suffer an injury or contract an illness deemed permanent by specialists, returning to your usual work can make it impossible or challenging. But with TPD insurance, either through an insurance company or your superannuation fund, you may be eligible to receive compensation to pay for medical and rehabilitation costs.
If you’re like many Australian workers, you probably hold TPD insurance cover in your superannuation fund – often without even knowing it. Depending on the TPD definition applicable to your claim, TPD insurance can also provide a financial safety net to help maintain and support you and your family. For a successful TPD insurance claim, you’ll need your medical history and reports from at least two doctors as medical evidence proving you have a permanent disability or a terminal illness.
What TPD Insurance Covers
In a nutshell, TPD insurance pays a benefit for medical expenses and hospital or rehabilitation care if you become totally and permanently disabled due to injury or illness and your claim is successful. However, the definition of “total and permanent disability” may differ for each insurer. TPD insurance can cover you if you become injured or are diagnosed with an illness in either of these scenarios:
- Your own occupation
You cannot work again in the job you were working in before your injury or illness caused your disablement. This TPD cover can be more expensive and is typically only available outside superannuation.
- Any occupation
You cannot ever work again in any job that suits your training, education or work experience. This TPD insurance policy is commonly less expensive than ‘own occupation’, but they may have a higher threshold, so a payout is less likely.
It’s advisable to carefully read the relevant Product Disclosure Statement (PDS) to find out what definition the TPD insurance policy supplier applies to “total and permanent disability”. For answers to any questions about a policy, you can always call the insurance company or your superannuation fund for information on what medical and rehabilitation treatments and payout amounts they offer.
How To Know If You Have a TPD Claim
If you have injuries such as those mentioned below, there’s a good chance you have a TPD insurance claim. Usually, any debilitating injury or health condition that prevents you from working qualifies you for permanent disability insurance payouts. However, to find out if you have a TPD insurance claim, check the TPD Helpline or your insurance policy. The TPD insurance permanent disability definitions in your policy will show what constitutes a total and permanent disablement. These definitions will determine the level of TPD compensation you may receive.
The Most Common Conditions That May Qualify For TPD
The TPD insurance policies offered by different insurers and superannuation funds differ. Still, generally, the most common injuries and permanent Illness conditions that may qualify for a TPD benefit or TPD payout may include:
Physical:
- Loss of a limb
- Loss of speech or hearing
- Paraplegia
- Spinal fusions or paralysis
Mental:
- Post-traumatic stress disorder (PTSD)
- Depression
- Anxiety
- Schizophrenia
Other Conditions:
- Cancer
- Alzheimer’s disease
- Multiple Sclerosis
- Parkinson’s disease
- Chronic Lung Disease
- A terminal illness as defined in your PDS.
Is There a Time Limit to Claim on TPD Insurance?
How permanent disability (TPD) insurance coverage works is different in each policy, depending on which company or super fund you choose for your TPD insurance coverage. Many policies include a time limit on filing a TPD claim. This means with some TPD insurance policies, you can file a claim years after you stop working, but there are exceptions:
- Depending on your insurer, some permanent disability TPD insurance policies require a time limit.
- Total and permanent disability claims must be made before you reach pension age.
- If your original TPD claim was declined, some insurers place a time limit on when you can make another TPD claim.
Call the TPD Helpline For Advice and Assistance
Please note that this article’s contents are general and should not be wholly relied upon as legal advice since every TPD insurance case. Each total and permanent disability definition can be different. It’s wise to seek legal advice from TPD legal experts before deciding on how much TPD cover or death cover you need or about your TPD benefit claim.
The TPD Helpline Australia can be contacted on 1300 679 222. Due to time differences across states, you can leave a voicemail, and we promise to return your call within the day despite the time difference. Our phone helpline is staffed weekly from 8:30 a.m. to 5:00 p.m. (AEST). Also, our Facebook social media page is staffed seven days a week, and we respond to direct messages fast. Most of our enquiries come via Facebook private chat. You can also contact us here to discuss how TPD insurance works, your policy schedule, or any info about a permanent disability TPD insurance claim.
