It is now commonplace to be insured for Total and Permanent Disability (TPD) cover within super. Superannuation TPD claims are becoming more frequent. In fact many Australians now hold income protection/TPD policies outside super concurrently.
If through injury or illness you are unable to return to your usual occupation, then it may be possible to access the insurance cover for TPD.
Our Brisbane Personal Injury Lawyers are regularly advising on Superannuation TPD claims.
Free policy review
This can be considered regardless of whether you have made another type of claim, e.g. CTP, Workers’ Compensation or another type of compensation. We will review your policy, for free, and provide some preliminary advice on your prospects on making a claim.
Broadly speaking, there are two types of TPD definitions:-
- Own occupation; and
- Any occupation.
An own occupation policy will pay the policy-holder a benefit if by injury or illness, the insured is unable to work again in their current occupation. Whereas, any occupation policies will pay only if it can be satisfied that the insured will be unable to work again in any occupation (reasonably suited by education, training and experience).
Hence in most cases, it is easier to establish entitlement in an own occupation policy than any occupation.
However, from 1 July 2014, TPD policies within superannuation will no longer allow new own occupation policies.