Total and Permanent Disability

A serious sickness or injury can make it difficult – or impossible – for you to continue working. It’s important to think about how you would support you and your family if something were to happen to you.

Gay parents with daughter

What is Total and Permanent Disability (TPD) insurance?

TPD insurance helps to protect you and your family's lifestyle if you were to become totally and permanently disabled.

You can apply for TPD insurance as an extension to Life Cover or Critical Illness insurance, which can be purchased inside or outside super.

Key features
  • A one-off payment if you suffer a total and permanent disability.
  • 12-month Life Cover Buy Back Option: the ability to restore your Life Cover insurance, less the TPD benefit paid and 12 months after the payment of a TPD benefit (when you purchase TPD insurance as an extension to Life Cover).
  • Partial payment benefit if you lose the use of one limb or sight in one eye (available outside super only).
  • Option to apply for additional cover when certain events occur without the need to provide further medical evidence.
  • If we’ve paid a one-off payment of $100,000 or more, we’ll reimburse up to $5,000 for the cost of a financial plan from a qualified financial adviser.
  • We’ll pay a death benefit of $5,000 should you die within 14 days of suffering a total and permanent disability (TPD insurance stand-alone only).
Product overview

How does it work? 

With TPD insurance, you’ll receive a one-off payment if:

  • you suffer a total and permanent disability which means you won’t be able to work again.

Cover amounts start from $25,000 and are available up to $5 million for certain professional occupations (eg surgeons, accountants and solicitors) and up to $3 million for other occupations.

You can also receive a maximum of $3 million for loss of independence (eg physical and mental loss as you age).

Premium options

You can choose to pay your premiums as: 

  • Stepped – your insurance premium varies each year depending on your age, sum insured and our premium rates.
  • Level – your insurance premium does not go up by age-related increases and will only vary if the sum insured changes or we change our premiums.

Regardless of whether you choose stepped or level premiums, when you renew your insurance each year your premiums may vary due to rate increases, Consumer Price Index (CPI) increases, policy fee increases, your health and medical history, your job, and the amount and type of insurance you take out.

Funding options

TPD insurance is available both inside and outside super.

Additional options

You can apply for these options at an additional cost:

  • Double TPD insurance (Life Cover Buy Back with Premium Waiver): we’ll automatically restore your Life Cover, up to the same amount as the TPD insurance benefit paid, if you live for 14 days after we’ve paid your TPD insurance benefit.
  • Business Safeguard Option: when certain events occur, you can apply to increase your original TPD insurance for certain business purposes without the need to provide further medical evidence.
  • 14-day Life Cover Buy Back Option (TPD extension only): we’ll automatically restore your Life Cover, up to the same amount as the TPD insurance benefit paid, if you live for 14 days after we've paid your TPD insurance benefit.

Do you need TPD insurance?

You may want to consider TPD insurance if you: 

  • have a partner, family or dependants
  • have a mortgage or any other personal debt
  • have a business or self employed
  • would need money to live if you were unable to work
  • don’t have adequate savings to cover unexpected expenses.

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