TPD or Total and Permanent Disability Claims
What is TPD?
TPD or Total and Permanent Disability Insurance is often a misunderstood yet extremely valuable benefit that people can access when they can no longer work in their usual occupation due to physical or mental disability, or ill health. It can allow you to access the benefits of your superannuation funds or other private life insurance policies sooner.
When you make a TPD claim you will receive a lump sum payment which can be used to fund medical costs, pay out your debts and provide a steady income stream to ensure you and/or your dependants are able to live the best life possible, given the circumstances.
Does my super have TPD insurance?
Most superannuation funds will have some level of TPD cover however the level of cover and your entitlements will differ. This means accessing TPD benefits varies. You can usually find all of the details about your level of TPD cover in your superannuation fund’s product disclosure statement (PDS). If not, you can find out more by contacting your super fund.
Accessing your insurance benefits is not always a straight-forward process and seeking legal advice will be in your best interests to ensure you aren’t missing any of the fine print in your policies, which can prevent you from receiving the benefits you’re entitled to.
What do I need to make a TPD claim?
In order to access TPD benefits, you do not need to show that somebody else is at ‘fault’ for your injuries. However, you do need to show that your injury or illness prevents you from working, and that you are unable to continue working in your usual job or any other occupation that suits your training, education and skills.
Generally speaking, if you haven’t worked for six months due to a medical condition or injury (and it’s unlikely you will be able to return to this type of work), your TPD claim has a good chance of being accepted by the insurer.
What is the TPD Claims process?
Every claim will be different however the following describes how GC Law handles TPD Claims
- First we get you to sign an authority authorising the insurer to communicate with us. Without this authority the insurance company will not release any information about you or your TPD insurance.
- Secondly we request a copy of the TPD insurance policy and application forms.
- Next we fill in the forms in consultation with you, have your doctors complete any medical certificates and then we lodge the TPD claim with the insurance company.
- Once the TPD claim has been lodged, we regularly follow up the insurance company to ensure the claim is being processed. Sometimes TPD claims can take months to process.
- As a part of the application process, you may be required to see a doctor for the insurance company. We can give you advice about how to handle the appointment to enhance your prospects of getting a favourable report.
- We keep you informed along the way so that you always know what stage your claim is at.
- Finally, once a decision has been made to accept your TPD claim, we arrange for the transfer of the money into your bank account.
How much will a TPD lump sum payment be?
This will depend on the TPD insurance you have attached to your superannuation, income protection insurance, life insurance and other specific occupational cover as well as your eligibility. You can usually find this out by reading through the fine print of your policy and statements.
Are there any time limits to lodge a TPD Claim?
Making a TPD claim can become time consuming and tricky if you aren’t armed with enough knowledge of the law and know how to deal with insurers. It really depends on your situation as sometimes you can lodge your application as soon as you stop working, or you may be required to show at least six months off work due to your circumstances.
Let us help you regain control over your life
If you need help making a TPD claim or unsure whether you are eligible, submit a free claim review with our Accredited Specialists in Personal Injury Law and we can help you figure out where you stand and what benefits you may be able to access.