Published on Monday 30 September, 2024 by Tim Downie
Johnston Withers Lawyers have experienced practitioners working in the area of Total and Permanent Disability insurance (TPD).
TPD insurance is a type of insurance that provides financial protection via a lump sum for individuals who become totally and permanently disabled due to illness or injury and are unable to return to work.
Most superannuation funds offer their members TPD benefits. These benefits can vary depending on the fund and the insurer. If you’re unsure whether you have TPD insurance, Johnston Withers can assist you in investigating whether you do.
The purpose of TPD insurance in Australia is to provide financial security to you and your loved ones in the unfortunate event that you become totally and permanently disabled through illness or injury and are unable to continue to work and earn an income. What’s important to note is that the definition of what it means to be totally and permanently disabled may differ from insurer to insurer. This is why it’s critical to read and understand your insurance policy.
TPD insurance provides a lump sum payment and/or annuities upon an individual becoming totally and permanently disabled (as per the definition contained in the terms of the policy).
This is when you’re unable to work in your current occupation, that is the job you worked before your illness or injury. This type of cover is usually more expensive and only available outside super.
This is when you’re unable to work in any occupation following your illness or injury. This cover is cheaper but as the threshold is much harder to meet, pay outs are less likely.
No one ever wants to have to make a TPD claim. However, in the event that you become totally and permanently disabled due to illness or injury and are no longer able to work, you may need to.
If your claim relates to an old injury or sickness, you should seek legal advice as soon as possible. These types of claims can be complicated and ultimately turn on the interpretation of the insurance policy. That’s why it’s important to consult with an experienced TPD lawyer for advice. The knowledgeable team at Johnston Withers Lawyers offer a free consultation to get you going on the right path.
The exact process of claiming a TPD benefit will vary from insurer to insurer, but generally, we will be undertaking the following steps:
The insurer will then make a decision on the claim. The decision may be to allow your claim (or part of it) or deny your claim in full. We will provide advice throughout the claims process.
How to claim TPD from super is a commonly asked question. Other relevant questions include whether you’re able to claim a TPD benefit through your superannuation and whether you may also be covered for income protection. The claims process can be a challenging one with many variables impacting on your ultimate success.
To ensure the process runs smoothly, and to improve your chances of making a successful claim, it’s best to seek legal advice. Our team at Johnston Withers Lawyers is here to help you with any personal injury claims. Offering a free initial consultation, our team will guide you through the claims process, so it’s one less thing for you to stress about. Contact us today and start working toward the best future possible for you and your family.
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