While everyone’s finances are feeling the pinch at the moment, just imagine for a moment what would happen if an illness or disabling injury meant you couldn’t ever work again.
For most of us, the financial picture would be pretty bleak.
It’s just that scenario the total and permanent disability (TPD) cover available through your super fund is designed to address.
Often referred to as disability insurance, TPD cover protects you if you are unable to work, giving you an income or a lump sum to draw on if something happens and you are no longer employable.
What is TPD insurance?
Total and permanent disability (TPD) cover is an insurance policy that pays a lump sum or income stream if you become permanently disabled due to an accident or illness and are unable to work again. It can provide a valuable source of financial security for you and your family, as well as helping to pay for your medical and rehabilitation costs.
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Janine has over 25 years’ experience writing about superannuation, including a decade as Managing Editor of the ASFA’s highly respected industry magazine, SuperFunds. She has worked with a range of super funds and leading institutional investment managers.
Her work has appeared in the Australian Financial Review personal finance section and she has been a regular contributor to Money Management and Financial Planning magazines.
IMPORTANT: All information on SuperGuide is general in nature only and does not take into account your personal objectives, financial situation or needs. You should consider whether any information on SuperGuide is appropriate to you before acting on it. If SuperGuide refers to a financial product you should obtain the relevant product disclosure statement (PDS) or seek personal financial advice before making any investment decisions. Comments provided by readers that may include information relating to tax, superannuation or other rules cannot be relied upon as advice. SuperGuide does not verify the information provided within comments from readers. Learn more
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