PERSONAL, FAMILY AND BUSINESS RISK AND MEDICAL INSURANCE IN AUCKLAND AND THROUGHOUT NEW ZEALAND
Total Permanent Disability Insurance
What is Total Permanent Disablement (TPD) insurance?
It’s about looking after you and your family’s future if you become totally permanently disabled and are unable to work as a result of an accident or illness.
Why do I need it?
Permanent disability might not only prevent you from working and earning, it could substantially increase the cost of maintaining a comfortable lifestyle for you and your family. With TPD Insurance you will get a lump-sum payment which can assist with your mortgage, cover medical expenses, modifications to your home or other bills so you can focus on adapting to your new world.
Key benefits of our TPD insurance:
- A lump sum to help cover costs such as medical treatments, employing a caregiver or ongoing household expenses.
- Access up to $15,000 to help modify your home or vehicle, or buy specialist medical equipment to help adjust to your new circumstances.
- Access to our Enhancement Pass Back Benefit which is our commitment to you to keep our insurance relevant.
Changes we make with these products in the future are automatically passed back to you, offering you even more at claim time.
What’s included with TPD?
Assistance Benefit Up to $15,000 (incl. GST) may be payable to cover costs of purchasing specialist equipment, completing home alterations or modifications for your vehicle which are necessary as a result of a TPD Benefit being payable.
Financial and Legal Advice Benefit
This enables you at claim time to access financial and legal advice from an the Insurer approved financial adviser or legal professional. The insurer will reimburse you for fees up to $2,500 (incl. GST). This is a one-off payment across all policies for each life assured.
Waiver of Total Permanent Disablement Waiting Period If your medical condition enables an assessment to be made immediately that the disablement is total and permanent, and all the other claim requirements have been met then the normal three month waiting period is waived.
Premium Conversion Facility
You have the option to convert all or part of your sum assured to a level premium structure without further medical underwriting.
Partial Permanent Disablement Benefit.
This is payable under certain circumstances (loss of sight in one eye, or loss of use of one hand or one foot); you may be entitled to the lesser of 25% of the sum assured or $100,000. Special
Events Increase Facility
Enables you to increase the sum assured under your cover following a significant event in your life which results in increasing financial responsibilities. These significant events include: having a child, your child starting secondary school, taking out or increasing a residential home loan or receiving a salary increase and other major events.
Suspension of Premium Benefit
Enables you to suspend your TPD insurance should you go on parental leave or on leave without pay for any reason, for up to 12 months. You cannot claim during this time or in the future for any health related conditions that occur during this suspension period. Total Permanent
Disablement Future Insurability Benefit
You can apply to increase your sum assured at every third policy anniversary without providing any further medical information. Limits and conditions apply and every increase in cover will require an increase in premium.