TPD insurance pays a lump sum if you are unable to work again due to an injury or illness. It is called a ‘worst-case scenario’ policy as a medical professional has to assess you and determine that you will not, physically or mentally, ever be able to work in the role you were in prior to the medical event.
The lump sum payment it provides can be used for -
TPD is different to income protection insurance, which provides monthly payments (income) not a lump sum of capital, and trauma cover, which pays a lump sum for getting specific medical conditions irrespective of your ability to work.
ICIB Brokerweb has a specialist Life & Health team that can sit down for a chat and help you to decide what the best cover is for your personal situation. We appreciate there are a lot of different policies out there so we will take the time to break it all down for you and put a plan together.