Total and Permanent Disablement Cover
Maintaining your family’s lifestyle in the face of total permanent disablement
Nobody likes to think about the prospect of long-term illness or disability, but for 29% of New Zealanders this will be a reality. (Statistics New Zealand, 2004)
Total Permanent Disablement (TPD) cover provides a lump sum that can be used in any way you wish to help secure your family's future.
Benefits of Total Permanent Disablement (TPD) Cover
- A lump-sum payment for total permanent disablement due to accident or illness.
- You’re covered anywhere in the world, 24 hours a day.
- You can choose to be covered for any occupation or just your usual occupation.
- Some insurers will also pay up to $2,500 for professional financial advice, to ensure you get the most benefit from a lump-sum payout.
- You can also choose to have this benefit accelerated to your Life Cover. In this case, a Total Permanent Disablement (TPD) claim can be treated as an early (accelerated) payment of your life cover policy.
What is 'Total Permanent Disablement'?
The term ‘Total Permanent Disablement’ refers to the end result of illness or accident. It means you:
a) Can’t do your own job or another job which your skills may be suited to; or
b) Suffer loss of limbs or sight; or
c) Can’t perform at least two of the following activities without the physical assistance of someone else:
- Bathing and showering
- Dressing and undressing
- Eating and drinking
- Using a toilet
- Moving from place to place by walking, in a wheelchair, or with a walking aid.
Total Permanent Disablement also applies if you are unable to perform one of the activities noted above, and your intellectual capacity has reduced or deteriorated to such an extent that you require permanent and constant supervision.
Statistics from Statistics New Zealand 2006
* The percentage of people with disability increased with age, from 10 percent for children aged less than 15 years to 45 percent for adults aged 65 years and over.
* Disease or illness, and accidents or injuries were the most common causes of disability for adults. The most common type of accident or injury causing disability was one that occurred at work.