Permanently Unable to Work cover also known as Total and Permanent Disability (TPD) Insurance. It provides a lump sum payment (subject to conditions) in the event that the Life Insured is permanently unable to work due to sickness or injury6. Permanently Unable to Work cover must be taken out in conjunction with Life Cover.
The funds can be used for any purpose you choose, such as cover your debts and living expenses, provide for medical treatment or ongoing care, or to pay for any home modifications that are required as a result of your disability. Payment of a benefit under Permanently Unable to Work cover reduces the cover amount of any remaining benefits under Life cover and Critical Illness cover by that payment amount. In certain circumstances this may mean the end of a cover or the Life Insured’s policy.1 The Life cover Buy Back feature allows you to reinstate the Life Cover Amount that was reduced 12 months after full payment of a Permanently Unable to Work claim.11
You must be aged 16 to 55 and working on a permanent basis in an eligible occupation type for at least 20 hours per week to apply for Permanently Unable to Work cover. Once you are accepted, as long as you pay your premiums, we guarantee to continue your cover until the policy anniversary after your 65th birthday, regardless of changes to your health condition.4,1