Total and Permanent Disablement (TPD) cover protects you and your family (and if relevant, business colleagues) by paying a one-off lump sum if you become totally and permanently disabled from a sickness or injury.
In assessing your cover for TPD we will consider which type of cover is best for you, whether it be ‘any’ occupation or for ‘own’ occupation and discuss with you the cost versus benefit of each.
TPD cover using “any” definition is usually cheaper than “own” occupation. However, the issue is that people are less likely to have a successful TPD claim with “any” occupation than “own” because “any” occupation is very broad, ‘i.e. a professional may want to be indemnify for his/her earning potential as a skilled employee in their profession.’
At Del Castillo Investments Pty Ltd, we work closely with our clients to find the balance in protecting for a TPD event now and investing for the future assuming no TPD event.
Do not leave it until something happens - contact us today to discuss how we can safeguard your financial future and protect those dependent on you!