Total & Permanent Disability Insurance
Unfortunately, there are times when illness or a serious accident can lead to total and permanent disability. To suddenly find yourself unable to do many of the things you love may be overwhelming not only for you, but for everyone around you.
If you become permanently disabled and can’t work due to illness or injury, you will need to find ways to cover the costs of treatment and rehabilitation, and to financially support yourself and your family.
With Total & Permanent Disability Insurance, the benefit is paid as a lump sum when you need it most. You can use the benefit in any way you wish including paying off your mortgage, making alterations to your home to accommodate the disability, or to pay for ongoing rehabilitation or therapy costs.
Benefits of Total & Permanent Disability Insurance
You can choose the benefit amount that suits your needs, in increments of $50,000. See the table below for the maximum cover amount available, dependent upon your age.
Your benefit will be paid in full if you can’t work in any occupation due to a permanent disability, or if you suffer the loss of limbs or sight, or you become totally dependent on others for your care. Each of these are defined within the Product Disclosure Statement and if you lodge a claim your condition will be assessed against these definitions.
Things you should know
- The intent of the policy is to cover you in the event that you suffer an injury or illness that is so severe that you will remain disabled permanently and are unlikely to ever be able to work again.
- There are a number of exclusions to this policy, including that any condition caused or accelerated by an intentional act will not be covered. You can read more about the exclusions in the Product Disclosure Statement.
- This cover expires on the policy anniversary following the insured’s 65th birthday.
- If you claim on this cover, it will reduce the amount of your life insurance benefit by the same amount as the claim.
For more information about Total & Permanent Disability Insurance, download the Family Life Cover PDS.