Let us define TPD: put simply, it is a type of insurance that helps if you have suffered total and permanent disability due to a injury or illness. Due to an inability to work, the injured cannot support theirs or their family’s needs. Think of it as a financial safety net which can protect you if you become totally and permanently disabled.
As a form of insurance, Total and Permanent Disability (TPD) cover can help you repay debts, cover the cost of living after disability and assist with rehabilitation costs. Almost all superannuation funds now offer TPD insurance as part of their normal superannuation accounts. To be able to qualify for TPD compensation, the most common elements to prove are:
- That you can’t work in your occupation due to injury or illness, or
- That you can’t work again in any type of occupation for which you are educated, trained or experienced.
This is not a full or complete list of what needs to be proven. Each superannuation fund has their own set of criteria to determine if an individual is eligible for TPD benefits. It is therefore extremely important to get legal advice as soon as possible after injury or illness. In addition, medical check-ups are essential as they can help prove a claim.
Why you might need TPD cover
When considering TPD insurance, there are a few things you need to think about:
- Are there any Worker’s Compensation or government benefits available for me?
- Can my private health insurance cover all of my medical costs and rehabilitation?
- Where will my family get the finances they need when I’m totally and permanently disabled?
- Will my super fund be enough to provide me with a comfortable life after disability?
Life after disability can be challenging for families. Talking to a lawyer can help you find the best coverage.
How can you claim your TPD insurance?
All insurance policies have waiting periods before you can claim. Most common is a three or six month waiting period before you can claim TPD benefits. However, TPD claims can be a lengthy process as insurance companies need to collect evidence for your claim. It can take up to 18 months before a TPD claim can be finalised.
Carew Lawyers can simplify the process of claiming on your TPD insurance. Our background in compensation law could help speed up your TPD claim. Let us help you by organising a consultation today.