Total and Permanent Disability (TPD) insurance provides a lump sum payment should you become totally and permanently disabled due to illness or injury. This financial support can help cover rehabilitation costs, repay debts, cover the cost of lifestyle changes and home modifications, provide for your dependents, and more.
However, not everyone can lodge a TPD claim. There are certain eligibility requirements that you must meet. Here, we break down these eligibility factors to help you understand who can make a TPD claim:
- You have TPD coverage: The first requirement for making a TPD claim is to have TPD coverage in place. TPD insurance is often included within superannuation policies, so reviewing your superannuation policy or checking with your superannuation fund to see whether you have TPD coverage is important.
- Your condition meets the definition of TPD: The exact definition of TPD can vary from policy to policy, but it typically involves having a condition that prevents you from working in your usual occupation or any other suitable employment based on your education, training, or experience. Some policies may also require that you are unlikely to ever return to work due to illness or injury.
- You have met any waiting periods: Many TPD policies include a waiting period between 3 and 6 months from when you stop work. You usually have to demonstrate that you have been off work for this period due to your illness or injury and that you have been under the regular care of a medical practitioner.
- You are below the maximum age limit: TPD policies often have an age limit, typically 65 years, after which you can't make a claim.
- You satisfy the policy's work history requirements: Some TPD policies require you to have been employed at a certain level (for example, working at least 15 or 20 hours per week) before you became ill or injured.
It's important to remember that every insurance policy is different and may have additional or different requirements for making a TPD claim. When in doubt, it's best to consult a claim specialist or legal expert to understand your policy's terms and conditions. Remember, Claimfinder is here to introduce you to claim experts who can help you navigate this process.