Zurich Total and Permanent Disability
- largest life insurer
- claims paid in 2015
Zurich Total and Permanent Disablement (TPD) cover pays a lump sum if you become totally and permanently disabled and are unlikely to ever work again. TPD is about ensuring that you retain as much quality of life as possible.
A TPD benefit can be used to help you repay debts or your mortgage as well as fund modifications that are required for your home, such as wheelchair access.
Zurich’s TPD cover offers the following benefits:
- TPD benefit – This provides a lump sum payment if you become totally and permanently disabled. This applies for both ‘any’ or ‘own’ occupation definitions of TPD and if your policy is purchased in conjunction with a Zurich Death or Trauma policy or held as stand-alone TPD policy. Please see the Product Disclosure Statement for more information about the occupation definitions available through Zurich.
- TPD advancement benefit – This provides a partial advance payment of the TPD benefit if you suffer a specified injury, such as losing the use of hand, foot or an eye.
In addition to the TPD benefit, Zurich also offers the following benefits
- Inflation protection: Your cover will increase each year to align with inflation.
- Future Insurability: Allows you to increase your cover without further medical underwriting after certain life events, such as marriage or the birth of a child.
- Financial planning advice: This benefit will reimburse $3,000 for the cost of advice to help you manage the benefit received.
- Premiums holiday: If your policy has been in force for more than 12 months, to help ease any financial pressures you might be experiencing, you can take a 3, 6, 9 or 12 month break from your cover. A maximum of 12 months can be taken throughout the life of the policy.
There are also optional benefits available at an additional cost, including:
- Needle stick cover option: Provides a lump sum payment for occupationally acquired HIV or hepatitis B or C.
- Double TPD option: Allows the Death Cover to be reinstated and premiums waived, following the TPD claim.
Zurich TPD insurance can be linked to Zurich life insurance or purchased as a stand-alone policy.