Protection Plus Total and Permanent Disability Insurance

TPD Insurance pays a lump sum if you become totally and permanently disabled and therefore are unlikely to ever work again. TPD is about ensuring that you retain as much quality of life as possible.

If cover is taken through superannuation, then the benefits and options are restricted so that the cover is aligned with superannuation law.

Depending on the product you apply for, it is possible to combine TPD Insurance with Life Cover and / or Trauma Insurance (to pay a benefit on diagnosis of a specified traumatic health condition, like heart attack or cancer).

It can:

  • Provide funds to allow a family member to give up work to care for you or, alternatively, to fund other home care
  • Allow you to repay debts including mortgage, personal loans, guarantees, credit cards and store cards
  • Pay for any major renovations required to your home (eg. to permit wheelchair access).

TPD Insurance (Total & Permanent Disability Insurance) is available under the Zurich Protection Plus policy, Zurich Superannuation Term Life Plus policy or as an optional protection benefit under a Zurich Superannuation Plan.

Benefits

A brief outline of the benefits provided under Zurich's TPD Insurance (via the Zurich Protection Plus policy) is set out below. Full details, including any benefit limitations and exclusions, can be found in the Zurich Wealth Protection PDS (pdf 2.3Mb).

Standard benefits

Standard benefits

Refer to the Wealth Protection PDS for information about which benefits are not available if the cover is structured with superannuation ownership.

  • TPD benefit

    A lump sum benefit is payable on your Total and Permanent Disablement.
  • Partial TPD benefit

    Some of the TPD benefit will be advanced if you suffer permanent loss of the use of a hand, a foot or the sight of an eye.

In-built policy provisions which apply to all Protection Plus policies:

  • Interim cover

    While your application is being assessed, interim accidental TPD cover can apply for up to 90 days.
  • Inflation protection

    Cover can be increased each year to allow for inflation by the greater of the CPI and five per cent.
  • Future insurability

    On certain specified occasions related to personal circumstances such as marriage or birth of a child, cover can be increased within guidelines without any further health assessment.
  • Financial planning advice

    After a Death benefit is paid, up to $3,000 of financial planning advice cost can be reimbursed.
  • Premium freeze

    You may elect to freeze premiums if affordability becomes an issue in the future, in which case you will continue to pay the same amount and the cover will reduce each year.
  • Premium holiday

    Allows a 3, 6, 9, or 12 month break in cover (max 12 months over life of policy) to ease financial pressure. Not available under platform.

Optional benefits

Additional (extra cost) options are available with TPD cover, allowing cover to be tailored to your needs.

Refer to the Wealth Protection PDS for information about which benefits are not available if the cover is structured with superannuation ownership.

  • Premium waiver option

    Your premiums will be waived for all benefits under the policy if you are totally disabled prior to age 70.
  • Accidental death option

    A nominated lump sum amount is payable on your accidental death. Cover is available from $50,000 to $1 million.
  • Living activities TPD option

    A nominated lump sum amount is payable if you become unable to perform at least two activities of daily living, suffer cognitive impairment or suffer a specific loss.
  • Business future cover option

    If cover is taken out for business insurance purposes, you can increase the cover annually in line with changes in the value of the business or key person, without providing further evidence of good health.
  • Needlestick cover option

    If you work in an exposure prone occupation (eg doctor, nurse, pathologist), a lump sum (between $50,000 and $1,000,000) is payable if you contract HIV, hepatitis B or hepatitis C in the course of your normal occupation.
  • Insured child option

    Your children (aged between 2 and 18) can be covered for death, terminal illness and 18 specified trauma events. Up to $500,000 is payable if an insured child suffers a specified Trauma event and up to $200,000 is payable for death or terminal illness.

    The carer benefit allows you to take time off work to care for a child who is confined to bed (provided the sum insured is $200,000 or more), paying a monthly benefit of $5,000 for up to three months.
  • Double TPD option

    Double TPD option can be added if you take TPD cover in conjunction with Death cover. If you make a TPD claim, your Death cover is reduced by the claim amount. This option allows the Death cover to be reinstated 14 days after a TPD claim. All future premiums for the reinstated Death cover are waived until the policy expiry date.
  • Buy back TPD option

    Buy back TPD option can be added if you take TPD cover in conjunction with Trauma cover. If you make a Trauma claim, your TPD cover is reduced by the claim amount. This option allows the TPD cover to be reinstated over a three year period.

How to apply

Financial Adviser

Get a quote or apply through a financial adviser

A financial adviser can help to
determine the most appropriate
cover for you, based on your
personal circumstances.

Documents

pdf
Zurich Wealth Protection PDS & Application form - 21 December 2015

Type: pdf (2.8Mb)

Issue date: 21 December 2015