TPD Cover

Spotter Life has uncovered Total and Permanent Disability Cover Policies from far and wide for you to choose from. Discover the options available…

Total and Permanent Disability (TPD) Cover pays a lump sum to you in the event you can not return to work due to a total and permanent disablement. This lump sum can be used to help you:

TPD Cover is available to people aged between 17 and 59 and can be either used as a rider benefit to term life cover or as a stand alone cover.

Our service providers

  • AIA
  • Encompass
  • Integrity
  • MetLife
  • MLC
  • NEOS
  • OnePath
  • TAL
  • Zurich

TPD Cover Quote Estimates

Total disability Insurance (TPD)

Total and permanent disability insurance (TPD) provides a lump sum payment if you are unable to return to work due to total and permanent disablement in the opinion of two medical doctors (usually your own and the insurance companies). You can either have an own occupation or an any occupation TPD policy.

Own occupation

The payout bar is lower if you choose an “own” occupation policy, which means that the policy is more expensive. The criteria is you are totally and permanently disabled and cannot work in any capacity in your own field of work in which you specialise and for which you are trained.

Any occupation

Any occupation is a little bit harder to claim on, but the term “any occupation” can be a bit misleading as well. The definition states if you become totally and permanently disabled and cannot work in any capacity in ANY occupation based on your previous education, skills, training or experience.

For example:

Let’s take the example of a neurosurgeon who develops Parkinson’s disease and can no longer operate on patients. Under an “any occupation” definition he can no longer work as a neurosurgeon and this would trigger a payout. Under an “any” occupation definition he could work as a consulting doctor and not.

Own occupation TPD through super

According to super fund legislation you cannot hold an own occupation policy through super, because it will not satisfy one of the conditions of release, so default cover through super is set at any occupation. However, there is an option to “superlink” your policy where you pay a small amount outside of super (the “own” component) and the rest inside super (the “any” component) so that if you had to claim the amount can get released from your super.

TPD and tax

TPD benefits are typically tax exempt when the policy is personally funded (self-owned) for personal protection purposes.  However, if the TPD benefit is funded via superannuation tax may apply.

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