Trauma & TPD Insurance
When you are in a crisis concerning your health, you should not have to think about how to pay your bills or the costs that are not part of your health plan. Whether it’s a stroke, cancer or other serious conditions, or a permanent disability from an accident, it pays to be insured against such events with trauma & tpd insurance. You can get a lump sum payment after confirmation of the diagnosis and the definition of your condition is met.
Trauma and TPD insurance package can be tailored to:
- Help with medical bills and rehabilitation
- Pay for debts such as mortgage, loans and credit cards
- Cover education costs
- Finance home care or guardian
It can be personalised to meet your particular situation and enhance any life insurance cover or income protection plan.
In Australia, there are 4 types of total and permanent disability insurance.
- Any occupation – for cases that the insured is unable to work for his remaining lifetime in his profession, business or similar occupation that they qualify based on education, training and experience.
- Own occupation – for cases that the insured cannot work in their own occupation for his remaining lifetime.
- Home duties – for cases where the insured cannot engage in domestic tasks for 3 months or more. This TPD insurance type requires thorough processing where medical evidence has to identify the level of incapacity.
- Modified – for cases when the insured is totally incapable of performing without physical assistance from another person or has cognitive impairment that demands constant monitoring and supervision and has been disabled for 3 preceding months and will remain disabled for the rest of his life.
TPD Trauma insurance is an additional policy to life insurance or income protection cover. The most significant difference is that TPD insurance provides a lump sum benefit at a critical time of your life to help with recovery or adjustments due to disability or trauma.
The insured can also use a super to pay for TPD premiums. Outside of super, TPD insurance premiums are usually not tax deductible although any lump sum benefit from a TPD insurance claim is usually tax-free.
Make sure you are protected with TPD Trauma insurance. Contact us at Truck Insurance HQ for free and affordable quotes and ensure you are financially secure against total and permanent disability or trauma. Go online to request a quote or call our office on 1300 815 344 today.