Imagine a scenario where sickness or injury has left you permanently unable to work. It's not a pleasant thought, but unfortunately, it's a possibility. However, there's a way to protect your family from the potential financial impact of this unfortunate circumstance - Total Permanent Disablement (TPD) cover.
Here’s a quick overview of how TPD cover can help.
What is it?
TPD cover can provide a lump-sum payment if you become totally and permanently disabled as a result of an injury or illness, and are unable to work again This payment can be used by you and your family as needed, including covering the costs of medical treatment, rehabilitation, ongoing care, and providing financial support.
How is TPD different from other types of cover?
While TPD cover may seem similar to other insurance types like income protection or trauma cover, there are key differences to keep in mind. Income protection provides ongoing payments for a specified period if you're unable to work due to a serious illness or injury, whereas trauma insurance pays a lump sum for specific medical conditions, regardless of your ability to work. TPD cover, on the other hand, provides ongoing payments regardless of the cause, as long as you meet the definition of total and permanent disablement specified in the policy.
Who is this cover for?
TPD cover can be a good option for anyone looking to ensure that they and their family are financially protected in the event of a serious accident or illness that results in total and permanent disablement. TPD cover can be especially helpful for those who work in high-risk occupations (e.g., construction), or for those who engage in dangerous hobbies (e.g., extreme sports). It's important to note that everyone's circumstances are unique, so it's essential to explore your options in detail before making a decision.
Like to learn more?
If you’d like to know more about this type of cover, please don’t hesitate to contact us. We have a team of friendly insurance advisers on hand for any questions and support you might need. Give us a call on 0800 800 400, start a Live Chat or fill in our contact form to get in touch.
Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current developments or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.