TPD & Income Protection Claims
Total and Permanent Disability Claims
Total and Permanent Disability or “TPD” benefits are insurance benefits which are paid to individuals who cease work due to injury or illness and are not able to return to work. The policy terms and conditions relevant to each policy providing TPD benefits are different and must be checked.
Some policies require individuals to be unable to return to work that they have done in the past or are qualified to do. Other policies require that the individual not be able to do any work that they have done in the past, that they are qualified to do or work that they could be retrained to do.
No matter what the terms of the relevant policy, TPD benefits provide a lump sum insurance benefit which can provide much needed financial relief and security to those that have been forced out of the work forced by injury or illness.
Income Protection Claims or Salary Continuance Claims
There are benefits payable to individuals that have ceased work due to injury or illness. These benefits are different to TPD benefits because they pay monthly benefits for as long as an individual continues to be unable to work because of injury or illness.
These benefits can be paid for 2 years, 5 years or even up to 65 or 70 years of age depending on the policy terms and conditions.
Benefits can be paid at the full rate when an individual is Totally Disabled from all work. Or they can be paid at a Partial Disability rate, where an individual is able to do some work, but not the same level of work that they did before they got sick or injured.
Like TPD benefits, income protection or salary continuance benefits can provide much needed financial relief to those that are injured or ill.