What qualifies as totally and permanently disabled?
Preparing to file a total and permeant disablement claim can come with a lot of questions, which is why our insurance experts at Almane Super claims are here to help. The guidelines for the TPD definition are not standardly defined, which means the TPD insurance definition can vary between insurance agencies. Generally speaking, total and permanent disability indicates an individual is suffering from some form of permanent incapacity or permanent disabilities that render them permanently unable to work due to sickness or injury. These TPD insurance claims have several categories under which an individual can file a claim, which we’ll go into in the next sections.
TPD Own Occupation
One of the categories under which an individual can file a TPD claim is “own occupation TPD.” This categorisation is characterised by the inability to work in one’s own occupation ever again. While this definition may seem broad, simply put it means that the individual can no longer work in their current profession as a result of the disablement. This categorisation can be applied to specified work such as that of medical specialists.
Any Occupation TPD
As an alternative to “own occupation” TPD, individuals may choose “any occupation” insurance as their permanent disability insurance. This type of coverage offers a less expensive TPD insurance quote than “own occupation”, but provides less coverage, applying to the broader category of those who are unable to work in occupations suited for their education, training or experience. There is also the “non-working" type of coverage which provides TPD payout but is the hardest form of insurance to claim on.
When it comes to disability, there are a number of permanent disability insurance options, and our experts at Almane Super Claims are here to help guide you with our expertise. Having the support of our professionals helps our clients navigate the inconsistent TPD definitions, providing our clients with high success TPD claims statistics.
TPD Insurance Claims
Many of our clients don’t realise they have total and permanent disability insurance included in their superannuation. Total permanent disability insurance payouts typically come from a superannuation disability payout fund, making it important that our clients review their policies. In addition to performing the due diligence on policies, our experts are here to answer your questions from, “How much tax will I pay on my TPD claim,” to resolving the question of, “How do I claim my superannuation benefits?”
When TPD insurance claims are paid out, the funds are intended to offset the life costs of no longer being able to work in your previous profession. These categories can include medical expenses, living expenses, loss of income and are often applied to other debts that have accrued. The amount is paid in a lump sum, and is generally non-taxable.
Can You Work After A TPD Payout?
The simple answer is, “yes, you can!” In order to qualify for a total permanent disability insurance payout, the candidate must apply in connection to the job held at the time of the disablement. You can still perform work in other unrelated professions as defined by the policy held, as long as the payout is unrelated to the current work.
Almane Super Claims Services
At Almane Super Claims, our insurance specialists are here to provide you with support through the process of managing your total and permanent disability insurance. From selecting the right total disability insurance through filing appeals for denied claims, we are here to make your TDP coverage easier to understand. In working with our team we support you when you need us the most, expediting and facilitating the claims process.