The Three Types of TPD Cover explained

There are 3 main types of TPD cover available depending on your occupation and employment status. Have a read through the three definitions to see which one might be best for you and we can discuss further.
Own Occupation TPD

As a result of injury or illness the life insured:

  • Has been absent from work and unable to work in their own occupation for at least 3 consecutive months or (in some cases) suffered at least 25% permanent whole person impairment, and

  • is disabled at the end of the 3 consecutive months to such an extent that it is unlikely they are ever again able to engage in their own occupation

Any Occupation TPD

As a result of injury or illness the life insured:

 

  • ​Has been absent from work and unable to work in their own occupation for at least 3 consecutive months or (in some cases) suffered at least 25% permanent whole person impairment, and

  • is disabled at the end of the 3 consecutive months to such an extent that it is unlikely they are ever again able to engage in any occupation:

  • ​for which they are reasonably suited by education, training or experience and,

  • For which is likely to generate average monthly earnings of at least 25% of their average monthly earnings in the 12 months prior to claim.

Home Duties TPD

This is only available to home carers and states that as a result of injury or illness the life insured:

  • Is under the regular care of a medical practitioner and is unable to perform normal domestic duties, leave their home or engage in any occupation for 3 consecutive months, or has suffered at least 25% permanent whole person impairment; and

  • is disabled at the end of the 3 consecutive months to such an extent that they require ongoing medical care and unlikely to ever again be able to engage in normal domestic duties or be engaged in any occupation to which they are reasonably suited by their education, training or experience.

On all three of these definitions further definitions for cognitive loss, loss of independent existence and permanent loss of limbs or sight apply.

 

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