TPD Claims – When to make a claim?
Published 12 Aug 2013
It is imperative for anyone searching for TPD claims, often referred as Total and Permanent Disability claims to gain full-fledged information on TPD insurance claims. It’s often a tedious process and may take time until compensation is received. The policyholder should have a thorough knowledge before proceeding to file a claim.
Benefits of TPD claims are derived only once the policyholder fulfills the terms and conditions provided in the policy and forwarded by the insurance company. The definition of TPD insurance claims needs to be understood to avoid any kind of hassles in the filing process.
There are two occupational factors which create the foundation for benefits of TPD claims.
- Firstly, the policy holder who has become disabled and not likely to get back to a full source of employment where he was previously positioned, fall under the category of “Own occupation”.
- Secondly, “Any Occupation” relates to a state where the policyholder has become disabled and not likely to get involved in any kind of paid work again for which he was employed on the basis of education, experience or training.
There are few other factors which can decide the fate of policyholder or, in other words judge their application for TPD insurance claims. One of these factors is the non-performance of occupational duties for a period three months or more before the age of 65 by the person filing the claims. The claimant can apply in the court through an insurance lawyer when he is unable to conduct duties in at least two out of five activities every day. Also, most of the times, the occupation category of policyholder is covered under the terms of TPD claims.
There are few insurance providers which provide partial disablement benefits. Under this situation, the policyholder can file for TPD claims when they are not entirely disabled and capable of working in the occupation at a reduced capacity. The monthly income would be, however, comparatively less than the pre-disability income. Also, the partial disablement feature requirements are segregated on the basis of duties or hours. While calculating the TPD insurance claims benefits on the basis of hours, it is significant to see that the policyholder rejoins duties, works for the specific number of hours at reduced income and is under medical care. They are partially disabled for the entire waiting period. On the other hand, the benefits of the insurance policy on the basis of duties are possible to obtain when the policyholder returns to work after suffering from total disability, is incapable of performing duties and forced to earn less than the pre-disability income.
The compensation benefits cover a lot of expenses. These are expenses towards medical treatment and children education. The expenditure involved in the mortgage of house, rent, utility bills and home modifications are also covered under compensation cover. Contacting an experienced TPD claims lawyer for TPD insurance claims is a must in case the insurance company underpays or refuses to pay or you are unable to understand the policy guidelines.