What is TPD Buyback?
The TPD Buy-back option is an added benefit that can be purchased under a linked life and TPD policy. After you have been paid a claim under your Total and Permanent Disablement policy this gives you the option to buy back the amount that has been deducted from your life benefit. You have the option to exercise the TPD Buy-back within 30 days twelve months after your claim was paid.
The TPD Buy-back option is not available if the TPD is standalone or linked under a trauma benefit. It has to be linked to a life insurance policy.
See also: Insurance Buy Back