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Total and Permanent Disability Insurance

What is Total and Permanent Disability Insurance / Commercial Death
Total Permanent Disability (TPD) is a phrase used in the insurance industry. TPD is because of a sickness or injury, a person is unable to work in their own or any occupation for which they are suited by training, education, or experience. An individual or group of individuals can insure themselves against it through a disability insurance policy, as part of a life insurance package or through worker’s compensation insurance.

Why do I need Total and Permanent Disability Insurance
Every day there are risks that can affect us. But to experience an accident or sickness that stops you from working would be devastating. Not being able to do your job is known as Commercial Death in our industry. The good news this is an insurable event and there is cover for this called Total and Permanent Disability Cover.

What are the benefits?
You will receive a cash lump sum if you become totally and permanently disabled. This would mean not having to sell assets to pay down debts, and giving some financial relief. A benefit would be not having to have a partner unexpectedly return to work because you have created financial stability for yourself or family because of putting in place Total and Permanent Disability Cover.

When would I need it?
For most people the early death of an income earner would cause serious financial strain for those left behind. The financial impact would be just as serious that income earner become totally disabled and unable to work for the rest of their life.

How can I get it?
To get Total Permanent Disability (TPD) Insurance or you want to review your current cover, just contact Assetwise and we would help by putting the best cover that best fits your current situation.