Total & Permanent Disablement Insurance

What is TPD or Disablement Insurance?

Total and Permanent Disablement (TPD) insurance can provide a lump sum payment if you suffer a sickness or injury and are permanently unable to work. This will help you to pay the additional expenses that arise as a result of a severe sickness or injury.

Who Should Have TPD Insurance?

Anybody who does not want their own or their family’s financial security or stability adversely affected because they are permanently disabled, can no longer work and/or require ongoing medical care and support.   TPD insurance can fund or assist with many things, including:

• funding of medical treatment and nursing care
• repayment of debts that can no longer be funded through the income that is no longer available
• pay for your home to be modified for things like wheelchair access or the housing of full time live-in carers
• ensure that the assets you have built do not have to be sold to fund the changes required as a result of your sickness or injury

If you are a business owner, TPD insurance could help to do the following:

• fund repayment of business debts
• fund the transfer of equity ownership in your business to your business partners whilst ensuring that you are paid for your ownership share of the business
• fund your replacement in the business

Why Should I Get Advice?

TPD insurance policies can be very complex products and policy definitions may vary widely between companies. Your adviser can give you objective information on different products and help you to find the most appropriate policy for your own personal circumstances. Our advisers can also discuss with you how much insurance cover is appropriate for your needs and how much cover will cost.

Do Claims Really Get Paid?

Yes they do!  Some Pacesetter clients have unfortunately found themselves in a position where they have had to make a claim against their insurances and have therefore benefited from having the right PROTECT strategies in place as a result of the advice they obtained from Pacesetter.  Our PLAN advice services can then be called upon to ensure that the proceeds of the TPD insurance claim received are managed in light of the new financial circumstances in which a sick or injured person finds themselves.

Would You Like to Know More?

If you would like to know more about strategies to PROTECT you and what insurances might be appropriate for your situation, please contact us.

You can also read stories about clients of Pacesetter who have TPD insurance strategies in place.