TPD and You

Even with stars in our eyes and dreams in the air, circumstances beyond our control can twist our lives around where clouds can hide the stars, and the dreams merge into nightmares.

In my experience, hard times create resilience and character, but we all still have options, open-doors and, in most cases, protection.

We are protected by insurance policies, which usually come under our Superannuation Policies. These insurances can be:

• added automatically;
• added deliberately;
• downsized;
• upsized;
• or even removed.

Depending on your Superannuation Fund’s policy, these outcomes will have terms and conditions attached to them. Your age, pre-existing health, and contributions can alter or affect them. If you have more than one policy, you may be able to claim under each individual policy. For example, there may be waiting periods, limits on the cover, and the policy may only cover “your occupation” or “any occupation”.

It’s wise to regularly review your superannuation and insurance to ensure they will cover your changing needs.

What are these Insurances in my Superannuation Policy? 

Those insurances can include:

Death Cover (aka Life Cover). This insurance pays out a lump sum or long-term income stream to your beneficiaries when you die or if you have a terminal illness. Usually, this ends at age 70.

Income Protection Insurance This insurance gives you a continued regular income for a specified period if you cannot work due to illness or a temporary disability.

And

TPD Insurance Total Permanent Disability Insurance is the safeguard if you become injured or permanently disabled due to an accident or illness and cannot work in any capacity in any occupation based on your previous education, skills, training or experience. TPD pays out a benefit either as a lump sum or over a number of years, depending on your insurer.

This provides you with the best medical and rehabilitation treatments and also gives you and your family financial security so you can go on making the most of your life.

If, because of an injury or a severe illness you;

• Have stopped work for at least six months (depending on your policy);
• No longer have the capacity to work in any of your previous occupations or in a position in which you are suited (due to your education, training and experience); and
• Are unlikely to work again.

Then you may be eligible for compensation to help cover the costs of medical expenses, rehabilitation and the cost of living.

If you or someone you care about has stopped work due to an injury or illness, contact your local Revolution Lawyer for a free, no-obligation chat. Your lawyer will review your case thoroughly and discuss the following steps to move forward and get on with your life’s ambitions. Often, a conversation is all you need to get your life back on track!