Disability Benefit | Premier Life Insurance

Total & Permanent Disability (TPD) insurance provides a one-time lump sum payment if you become disabled due to illness or injury and are unlikely to ever work again.

It’s designed to act as a financial safety net, helping you cover the cost of rehabilitation, debt repayment (like your mortgage), and the long-term cost of living when your earning capacity is permanently lost.

TPD Cover is often bundled with Life Insurance when implementing a comprehensive Business Insurance policy, covering the costs of rehabilitation, business bank debt repayment, and any long-term machinery/ lease expenses.

To receive a payout, you generally need to meet specific criteria defined by your policy:

Any Occupation: You are unable to work in any job suited to your education, training, or experience.
Own Occupation: You are unable to work in your specific current profession. This is typically more expensive but offers a higher level of protection.
Activities of Daily Living: In some cases, a claim is paid if you cannot perform basic tasks like dressing, bathing, or eating independently.

While medical insurance covers the hospital bills, TPD insurance covers your life. It provides the capital needed to:

Clear Debt: Pay off your mortgage or personal loans so your family stays in their home.
Provides Financial Security for a Business if a Key Person or Business owner suffers a medical event (i.e. Stroke) that stops them from permanently carrying out their workplace duties.
Medical & Care Costs: Fund ongoing therapy, specialised nursing, or home modifications (like ramps or rails).
Financial Independence: Create a steady stream of income to replace your salary for the rest of your life.