Do you ever worry about the impact on you and your family if you suffered a permanent disability? You may have heard the terms TPD insurance. But what is it really?
Total and Permanent Disability (TPD) claim is somewhat different from other personal injury insurance covers such as Workers Compensation or injury in a motor vehicle accident.
Usually, you may have TPD insurance cover as part of your Superannuation account. TPD cover provides you with a lump sum payment if you have been determined Totally and Permanently Disabled. However, the difficulty arises when we define TPD. eg; can I make a TPD claim if I injured my shoulder at work? or Can I make a TPD claim if I suffer from severe illness?
TPD is usually defined in the Life Insurance Policy Disclosure Statement (PDS) which should be given to you along with your Superannuation account documents. Each policy has a different definition of TPD.
The best way to find out if you have TPD cover is to contact your Superannuation provider and confirm with them if you do have cover. Sometimes you may have multiple TPD covers as you may have changed Superannuation while changing your job. Although you may have changed your Superannuation, you may be paying premiums for your previous Superannuation account. (There have been some changes in regards to this area, our next blog will cover this topic)
Once you have established that you may be eligible for TPD cover, request the Superannuation Insurer to provide you with the Life Insurance Policy Disclosure Statement and Policy document. This will assist you to understand the TPD policy definition.
However also note that when insurer’s receive your TPD claim, they have various factors to consider when determining whether or not you maybe eligible for TPD cover. This may include:
- Your age
- The severity of your injury or illness
- Potential of future employment
- Medical evidence
- Prior employment evidence
- Medico-legal reports
Reviewing and understanding the TPD definition can be difficult at times because it may not give you a clear indication of having a potential TPD claim. We, therefore, suggest getting some legal advice prior to making any claim.
If you still have difficulty finding out if you have any TPD cover or potentially have multiple TPD covers then you should contact our expert TPD lawyer
This blog was written by Principal Solicitor at Shaheen Legal, Owais Shaheen.