Total Permanent
Disability Insurance
TPD Insurance Overview
If an injury or illness prevents you from working in your usual role, there may be options available through superannuation insurance, such as a Total and Permanent Disability (TPD) claim. This can provide financial support in certain circumstances, regardless of how the injury or illness occurred. Additionally, income protection insurance may be available to assist with lost wages.
Many Australians hold TPD insurance through their superannuation but may not be aware of how and when it can be accessed. Understanding the conditions and processes involved can help in determining eligibility.
What is a tpd claim?
Total and Permanent Disability (TPD) insurance is commonly included in superannuation funds and is designed to provide financial support if an injury or illness prevents a person from returning to work in their usual occupation.
This insurance is provided by the superannuation fund, and any approved TPD claim is paid by the fund’s insurer, not deducted from the individual’s existing superannuation balance.
How does it work?
The process of accessing Total and Permanent Disability (TPD) benefits involves reviewing superannuation policies, identifying available coverage, and ensuring all necessary documentation is completed. If a person has multiple superannuation funds, they may have TPD coverage in more than one fund.
The claims process typically includes gathering medical evidence, liaising with the insurer, and meeting specific policy requirements. Given the complexity of superannuation policies, a thorough review of entitlements is important.
How Much Is a TPD Benefit?
The amount available through a TPD benefit varies depending on the specific superannuation fund and its policy terms. Each fund has its own eligibility criteria and lump sum payment structure. The total benefit amount can range significantly, and a detailed review of the policy is necessary to determine what may apply in each individual case.
Our process
- Initial Discussion
We provide information about legal rights and available options.
- Consultation
A discussion to outline relevant legal considerations.
- Guidance
Assistance in navigating legal processes.
- Communication
Engaging with relevant parties as required under the law.