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TPD Insurance Sydney
We are here to help for disability insurance claims or TPD insurance!
Total Permanent Disability (TPD) is an injury or illness, which will medically permanently stop a person from working. We like to explain it as a ‘medical retirement’. Whatever the issue is, it is likely you will no longer be able to work again. How each person is affected by a medical condition is different. An illness may progress differently in different people and the definition of TPD may also be different depending on your insurance company or your superannuation fund and if your insurance policy provides total permanent disability claims.
As an example is someone with Parkinson’s Disease. Parkinson’s is a degenerative disease and as it progresses, its effect will be more evident and the effect more significant on how it impacts your life. Early-stage Parkinson’s will allow some people to continue to work, however as the disease worsens, it is likely the ability to work will reduce to the point where working is no longer feasible and you will have to cease working.
A person who has a severe stroke may recover to the point where the results of the stroke are minimal with no long term effects so the person can resume their life with no impact and continue to work. However, depending on the severity, the effects of a stroke can be significant.
A combination of conditions
A person may have one condition which may not stop them from working (i.e. they can continue to work with that diagnosis.) However, some conditions may lead to secondary issues, and the combination of conditions could lead to that person not working. How a disease, illness or injury affects a person is often unique.
OWN vs ANY Occupation
The type of TPD definition is also important. Most policies (especially in superannuation) have a TPD cover definition of ‘ANY’ which means that a person cannot do ANY job. Some policies have a TPD definition of ‘OWN’ which means that a person cannot do the occupation for which they sought to cover themselves. An example may be a dentist or a pilot with Parkinson’s Disease. Parkinson’s may not allow that person to do their own occupation, but they could still do other work. The threshold for OWN occupation is therefore much lower than it is for ANY occupation.
Some TPD policies, particularly inside a superannuation fund could have multiple definitions depending on the severity of the illness or injury, and the full TPD benefit may not be available.
Claims Assistance can assist with any TPD insurance claim. We do it better than anyone and we make it simple and quick.
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