An accident or a serious illness can make you permanently disabled, resulting in your inability to work and a financial dependency on governmental support.
Total and Permanent Disability (TPD) cover provides a Lump Sum payment if you become totally and permanently disabled.
There are two common types of TPD cover:
1. Any occupation, for this to pay out you have to be totally permanently disabled an unlikely to be able to work again ever in any occupation.
2. Own occupation you have to be totally and permanently disabled from your own occupation for example if you are a hand model and you loose your hands you are unlikely to work as a hand model again but you could still work.
According to Stroke Foundation NZ, Stroke is the third largest killer in New Zealand and the major cause for serious disability.
Consider the following scenario:
You had a stroke that permanently disabled you. You have Life, Trauma and TPD own occupation cover. Thanks to Trauma and TPD, you will be receiving two Lump Sum Payments that you can use whichever way you like: Pay off your mortgage and any debts you may have, pay medical bills, go on a cruise around the world and visit your children, grandchildren and other family members all around the world.
Get in touch with us and our specialised advisers will be happy to discuss, explain and assist you with the application process, as well as with any claims later.