What is total and permanent disability insurance?
Total and Permanent Disability (TPD) Insurance pays out a lump sum of money if you are permanently disabled. This means that if you have been injured or have an illness that prevents you from returning to either your usual occupation or any occupation (depending on your chosen policy), you get a payout.
You may not be aware that most superannuation funds by default are required to provide TPD insurance cover. Many people have several superannuation funds that may each include TPD Cover which they can claim against.
What is covered under a TPD Policy?
TPD cover is generally defined as insurance that pays out a lump sum if you become permanently disabled and are unable to work again. This general definition is further ‘qualified’ by your insurer, who will have their own definition of TPD. These definitions will vary and it is important that you seek legal advice to ensure that you satisfy the definition.
Can I make multiple claims if I have multiple funds?
Yes, you can make a claim against each of the TPD policies. Many Australians have multiple superannuation funds that include separate TPD insurance policies.
Can I claim TPD as well as being on workers compensation?
Yes, your TPD claim will not affect your workers compensation claim. Workers compensation is a statutory benefit and your TPD insurance is not conditional on you only receiving compensation from one institution. However, any income protection/replacement benefit (distinct from TPD) you receive from your super insurer may be impacted by workers compensation claims.
Can I claim TPD as well as any entitlements if I have been injured in a motor vehicle accident?
Yes, CTP insurance is a state-based insurance scheme for motor vehicle accident injuries and is not affected by claiming on other insurance policies such as TPD or income protection.
How can I be sure I will be successful?
Making a TPD insurance claim can be complex, stressful and time consuming if you do not have expertise in making insurance claims. The insurers usually have in house lawyers working for them when assessing TPD claims, so why wouldn’t you?
Bale Boshev Lawyers have a reputation as the leading personal injury firm, this has resulted in a high success rate in obtaining decisions from the superannuation funds and their insurer in a timely manner to pay out our client claims, or to proceed to a court hearing in appropriate circumstances.
Article by Katherine Boshev
Katherine Boshev - Solicitor
Katherine began her legal career as a paralegal, with a focus in working on claims involving personal injury, medical negligence, public liability and permanent disablement. Katherine is also fluent in Macedonian, and is happy to assist those whose English skills are limited.
Areas of law Workers compensation, work injury damages, medical negligence, public liability and Total and Permanent Disablement claims.
