38-Year-Old Apprentice Receives TPD Payout Following Fall From Roof

In Australia, there are protections in place for people who suffer injuries or illnesses that render them permanently unable to work in their previous career. This is called total and permanent disability insurance (or TPD insurance) and it will provide a lump-sum payment that will help you maintain your finances to a certain extent, even as you can no longer earn an income in the traditional way.

It is important to note that you do not have to have suffered this injury or illness as a result of your job to make a TPD claim.

You can purchase TPD insurance as a standalone product from insurers, although there’s a chance you may already be receiving total or partial coverage under other policies.

There are various ways that you may be entitled to disability benefits, including through:

• A superannuation policy;
• Life insurance;
• Income protection cover;
• Mortgage protection or loan protection insurance;
• Employment disability and/or trauma cover; and
• Sickness or accident policies.

However, you may not know how much you are eligible to receive and what criteria you must meet. Check the wording of your policies closely and contact a personal disability claims lawyer for information if you want further clarification.

TPD claims, which are payouts from a type of disability insurance purchased either privately or through your super, have the lowest rejection rate of insurance cover and an approval rate of more than 80%.
 

In general, a TPD insurance claim takes around six months for the insurance company to assess. However, it can take longer if there is a dispute, or it can be wrapped up in a shorter time frame if your claim is extremely clear and you have the right superannuation disability attorneys on your side.

Be aware that once the insurance company has made its decision in regard to your TPD claim, the trustee of the superannuation fund will need to follow up with their own separate assessment of the claim. This can add an extra month or two to the process.