TPD Insurance

A disability is a life-altering medical event that affects both your finances and personal life. There’s no easy way to adjust to your new lifestyle, but TPD insurance ensures your finances will not take such a huge hit.

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What is TPD Insurance?

Total & Permanent Disability or TPD Insurance offers you protection if you become disabled due to injury or illness that prevents you from working. You will receive a total lump sum payment that you can use for medical treatments, daily expenses, and rehabilitation.

TPD insurance covers a wide range of conditions and disabilities like strokes, mental illness, and nervous system diseases. It can be a stand-alone policy, but most often, it is bundled with life insurance policies for comprehensive coverage.

With TPD policies, you have an option to cover all occupations where you are no longer able to work anywhere, or to include your current occupation.

Why Choose Absolute Insurance for TPD Insurance

Absolute Insurance has been providing the best well-constructed personalized TPD insurance in Perth. For over two decades, they have been able to satisfy Perth locals with their need-specific policies that cater to your exact needs and concerns.

Absolute Insurance provides you with a firm policy that pays you a cash lump sum in the event you become permanently disabled as verified by a doctor and as defined by your policy. You are also given a choice to cover specific occupations, whether you want it to include all available occupations or your current job.

Why do I need TPD Insurance?

The impact of permanent disability to you and your family is unfathomable. Not only will it be a massive adjustment in terms of lifestyle, but it is sure to obstruct your financial situation. It can be such an overwhelming burden and responsibility as the breadwinner to find a solution to your financial situation. On top of coping with your disability, dealing with treatments and rehabilitation, can be too much to bear.

One way to avoid this is by getting all the right information and getting yourself a TPD insurance. It pays to be cautious, and with a family looking to you for the support you can’t afford risking your health and your family’s living situation

How much does TPD insurance Cost?

On average, TPD insurance costs at least $15 a month for Australian. The cost of your TPD insurance is heavily influenced by your occupation, your gender, age, lifestyle, and current health situation.

TPD insurance costs will depend on how much TPD benefit you need in your policy. If you’re looking for a more substantial lump sum, then you can expect to have a higher premium cost.

When can you claim TPD insurance?

You can claim your TPD insurance when you are forced to stop working due to illnesses or injuries that result in permanent disability. Your insurer will assess your claim and verify that you are no longer able to work.

After this short process, you will receive your benefit payment which you can use for daily and medical expenses.

Do you pay tax on TPD payouts?

TPD payouts often incur tax deductions but only up to a certain amount. Thankfully, there are ways for you to reduce the amount of unnecessary taxes that you have to pay.

Greg Maguire

Greg Maguire

Greg is an experienced Insurance Broker based in Perth, WA. He holds an Advanced Diploma of Financial Planning from Deakin University and a Bachelor’s Degree from Edith Cowan University. He has been a member of the Chamber of Commerce & Industry WA since 2017. He likes giving back to the community so he's also part of Baldivis Rotary and Vice President of the local high school’s P&C (Parents & Citizens Association). Greg went into personal insurance brokering because he wanted to create a personal, one-to-one service that the larger, less efficient and less involved insurance firms simply can’t provide.


Want to find out more or not sure where to start? Get in touch for your free consultation. We’ll meet you at a Perth location that’s convenient to you to discuss how we can help you.