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TOTAL AND PERMANENT DISABILITY
INSURANCE POLICY

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Get Total & Permanent Disability Insurance

Total & Permanent Disability (TPD) Insurance provides financial protection in the event of a severe disability that prevents you from ever working again. It offers a lump sum payout to cover medical expenses, ongoing living costs, and necessary lifestyle adjustments. TPD Insurance ensures that you and your family are financially secure during challenging times, allowing you to focus on recovery and maintaining your quality of life. Safeguard your future with Aspect’s reliable TPD Insurance coverage.

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Financial assistance for you & family for when you need it the most.

Insure a sum you want. We cover sums up to $1,000,000

What Is Total Permanent Disability Insurance?

Total and Permanent Disability Insurance, also known as TPD insurance, provides a lump sum payout if you suffer from a total and permanent disability due to an illness or injury. TPD is defined as a disability that completely prevents the insured person from performing their normal occupation or any other occupation, lasting for at least twelve months without improvement.

In the unfortunate event that you become unable to work, TPD insurance offers essential financial security for you and your family. The policy proceeds can be used according to your needs, whether it’s replacing lost income, paying off mortgages, covering rehabilitation expenses, or making modifications to accommodate the disability.

Aspect’s TPD Insurance provides comprehensive coverage and excellent value, assessing your disability against your ability to perform daily activities, regardless of your employment status at the time of the disability. Ensure your future financial stability with Aspect’s reliable TPD Insurance coverage.

How Much Does TPD Insurance Cost?

The cost of Aspect TPD insurance cover depends on your circumstances and the sum you want to insure. Find out how much it would cost you based on your circumstances using our free online TPD insurance quote generator in under 10 minutes.

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What Are the Benefits of TPD Insurance?

Covers medical and family expenses

Ensures family's financial security

Covers all occupations

Enjoy life
without work

TPD Insurance Eligibility

To be eligible for Total and Permanent Disability (TPD) Insurance, you typically need to be between 18 and 65 years old at the time of application. Permanent Australian residency is also a standard requirement. Specific eligibility criteria may vary depending on the insurance provider and policy terms. It’s essential to review the policy documentation to understand the complete eligibility requirements for TPD Insurance coverage.

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Importance & Costs

Do I need TPD Insurance?

To decide whether you need TPD insurance or not, you need to assess your individual situation, needs and financial planning that you have in place. Reviewing how you will pay for expenses such as your living, family, medical, rehabilitation, financial, and any mortgages or debts you owe if you can longer earn an income.

Based on these, you should be considering if you have the financial means or options to support yourself. Income protection insurance or trauma insurance are other alternatives that can support you in need of lost income. These investments can provide you with more financial security, particularly if your family members are unable to care for you. Figure out why you should have TPD insurance here. If you’re unsure about your circumstances or situation, seek financial advice here.

Calculating Your TPD Insurance Cost
with Aspect’s Intelligent Cover Builder

The cost to purchase TPD insurance depends on the sum you want to insure, your age, occupation and other information relative to the particular risk. The sum you wish to insure usually depends on your financial circumstances.

It would be best to consider your mortgage or rent repayments, debts, children’s education, medical, nursing & rehabilitation costs, daily expenses, and retirement plans to conclude on the sum you would like to insure. Aspect’s intelligent cover builder offers a detailed rundown of the total cost and breakdown of your premiums based on the details you provide. Get an obligation-free TPD insurance quote now and determine how much it would cost you. 

Inclusions and Exclusions in TPD Insurance

What’s covered?

Aspect’s TPD cover is available for a wide range of occupations. Whether you’re a white or blue-collar worker, we cover the majority of professions (including some hazardous occupations). We cover normal occupation or any occupation.

  • An any-occupation policy pays you if you are permanently incapable of working in any job, even if it is a lower-paying job.
  • If you choose to cover your normal job, in that case, you will receive a benefit if you are permanently unable to do your ‘normal’ or ‘own’ job, based on your education, experience and age.
  • Unable to perform home duties
  • Loss of independence.
  • Even if you are unemployed at the time of injury or illness but were employed while purchasing the TPD policy.

Payment of benefits is subject to standard terms and conditions provided in our product disclosure statement.

What’s not covered?

As part of the Aspect TPD Insurance exclusion clauses, here are some general exclusions.

  • Deliberate exposure to exceptional danger.
  • Intentional self-inflicted injury or illness, suicide or attempted suicide.
  • Any professional sporting activities.
  • A criminal act committed by an insured person.
  • Any pre-existing illness.
  • Any injury that occurs before the policy’s commencement date.

For the entire list of exclusions, please read our product disclosure statement.

Tailored Protection: Combining Add-ons
for Comprehensive TPD Insurance

Aspect’s Accident & Health insurance products give you the option to get a customised quote that fits your needs. Our intelligent cover builder provides you with the flexibility to get a quote for a standalone Total and Permanent Disability insurance cover; combine it with any of the following products or get a quote for the complete package and purchase it to protect your family’s financial security during difficult times:

Income Protection Insurance

Income protection insurance is a product that replaces your income if you are temporarily unable to work due to illness or injury. Most policies will provide you with a fortnightly or monthly benefit payment of up to 75% (some up to 85%) of the income amount you’ve insured. This can also be customised to include an additional benefits bundle, by paying an additional premium, for benefits such as overseas assistance, child’s trauma and housekeeper benefits.

Accidental Death Insurance

Accidental Death Insurance (death by injury) is an easy and low-cost alternative to Life Insurance (death by any cause) or a good way to supplement an existing life benefit. Accidental death cover will pay your estate a benefit amount upon your death as a result of an accident/injury. Generally, the sum insured would be $100,000 to $1,000,000, depending on your circumstances.

Trauma Insurance

Trauma insurance provides you with a lump sum payment, payable on diagnosis if you suffer a serious medical condition like a heart attack, stroke or cancer. A trauma benefit is typically used to pay off immediate medical bills, rehab expenses, replace income and assist with your ongoing costs, protecting you against future debts and time away from work. The sum insured could range from $50,000 to $500,000, depending on whether it’s a standalone cover or purchased in conjunction with other products.

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Need More Information?

If you are unsure or require more information please don’t hesitate to
contact us or read our PDS

Download
PDF Here

Our Claim Process

Check your policy & cover before making a claim.

Provide proof of claim.

We communicate to you once claim has been processed.

Provide notice to us as soon as reasonably practicable of any injury or illness.

Submit your claim form and supporting documents.

Get In Touch

Find out more about how Aspect Underwriting can assist you with your client’s Accident & Health policy needs and London market placements. if you have a specific inquiry please use our full contact form here.


    Frequently Asked Questions

    Income Protection provides a monthly benefit when you're temporarily unable to work, while TPD Insurance offers a lump sum if you become totally and permanently disabled and can't work again.

    Yes, TPD insurance is essential, especially in high-risk professions, as it provides financial support if you become permanently disabled and unable to work.

    The premium you pay for TPD insurance is generally not tax-deductible. But a TPD benefit payment is tax-deductible. When held inside superannuation, the tax treatment for TPD insurance premiums will vary depending on:

    Whether or not the policy meets the definition of a 'disability super benefit' condition.

    Whether it is a normal occupation (sometimes known as 'own occupation') or other occupation (sometimes known as 'any occupation' TPD policy.

    If it is bundled with a death cover.

    TPD insurance may be available in your super fund, but you may need to opt-in for the cover. Contact your super fund to confirm the level of coverage you have.

    Waiting periods vary among insurers, typically ranging from 6 to 12 months. For Aspect's TPD insurance, the waiting period is 12 months.

    Yes, the type of occupation affects the cost of TPD insurance. Blue-collar jobs are considered higher risk, resulting in different premium rates.

    TPD insurance policies start when you initiate them and run for 12 months, automatically renewing unless cancelled. Coverage may not be renewed after age 65.

    ADL tests play a crucial role in TPD insurance claims. If an individual is unable to perform a specified number of ADLs without assistance, it indicates a severe level of disability and may strengthen their case for a successful TPD insurance claim.

    Disclosures & Important Notices:

    The advice provided on this website does not take into account any of your personal objectives, your financial situation or your needs. For this reason, before you act on the advice you should consider its appropriateness, taking into account your own objectives, financial situation and needs. Before you make a decision about whether to acquire any Aspect Products, you should obtain and read our Product Disclosure Statement (PDS). This PDS contains terms, conditions, and exclusions about our A&H insurance products. If necessary, please seek advice from a Financial Adviser or a qualified Insurance Professional before deciding on appropriate insurance cover.

    As prescribed by the Australian Government and as required under the Insurance Contracts Act, we advise you go through the Key Facts about your Personal Accident & Illness Policy here.

    We would also like to draw your attention to our Important Information provided here. You must be aware of this information when entering into the initial insurance contract, and when reinstating, or varying that insurance contract.

    Our financial service guide (FSG) contains important information about the services we offer you; how we and our associates are paid; any potential conflicts of interest we may have; and what to do in the event of a complaint. Find Aspect Underwriting FSG here and Aspect Broking FSG here.

    The Trustee for Wallis Family Trust t/as Aspect Broking is a Corporate Authorised Representative (CAR No. 1247437) of McLardy McShane Partners Pty Ltd; AFSL 232987, ABN 14 064 465 309. At McLardy McShane Partners Pty Ltd, we are committed to protecting your privacy in accordance with the Privacy Act 1998 (Cth) and the Australian Privacy Principles. Read the Aspect Broking privacy policy here.

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