Trauma and Total & Permanent Disability Insurance (TPD)

A lump sum of money for a serious illness or injury.

Most of us like to think of ourselves as invincible, and that accidents and illnesses happen to ‘other people’. But in fact no matter how much you exercise, or how healthy you are, or how good a driver you are - accidents and illness can happen to anyone. And when they do the last thing you want to worry about is how the bills will get paid.

Trauma and TPD Insurance provides you with money in the event that you are diagnosed with a specified condition, or totally and permanently disabled through accident or illness.

How does Trauma Insurance work?

Trauma: Trauma insurance is cover designed to pay you a lump sum of money on the diagnosis of a specified medical condition. This type of cover can be used to compliment or supplement any income protection you have. For example, if you are covered for Trauma and you suddenly had a heart attack - you would receive a lump sum payment.

How does TPD Insurance work?

Total and Permanent Disability (TPD): For example, you’ve had a serious accident, like falling off the ladder while cleaning your gutters and suffered a serious back injury that will permanently stop you from doing your job. Then TPD insurance provides you with a lump sum upon diagnosis of your condition.

This money would be there to help you pay your mortgage and car repayments, school fees, everyday living expenses and unexpected medical bills and rehabilitation costs that aren’t covered by your health fund. It would help you recover or adjust to your new life without the stress of money hassles and no worries about how you’re going to put food on the table.

Trauma and TPD is usually purchased along with either Life Insurance or Income Protection Insurance so that you and your family are fully covered in the event of something happening. But they can also be purchased on their own separately.

Trauma and TPD cover is:

• Designed to assist with your medical costs
• Assist with home modifications if you need them.
• Cover debts – such as your mortgage, credit card payments and loans.
• Can provide capital to educate children.
• Capital to pay for a guardian or carer to look after you.
• Can be used to provide capital to generate an income, but this may not be necessary if you have income protection insurance.

Want free advice on Trauma and Total and Permanent Disability Insurance (TPD)? Call us on (03) 9890 3388 to book an obligation-free appointment, or get a free online quote now.

*The amount you receive varies regarding the amount of cover you determine with your adviser is suitable for you at application time and the terms of the contract.

The information contained in this outline is of a general nature only. It has been prepared without taking into account any individual's objectives, financial situation or needs. Before acting on this information, you should consider the appropriateness having regard to your own objectives, financial situation and needs.