November 16, 2023
The content of this website is provided on the basis that it is general information only. The content of the website does not in any way constitute legal advice and should not be used as such. Formal legal advice should always be obtained. Whilst the information contained in this website has been formulated with due care, we do not accept any liability to any person for the information (or the use of such information) which is provided on this website or incorporated into it by reference. The information on this website is provided on the basis that anyone accessing the site undertake responsibility for assessing the relevance and accuracy of its content.
What is Total and Permanent Disability (TPD)?
As TPD Lawyers, we are often surprised that people have almost zero understanding as to what TPD is. This is despite the fact that many people, unbeknown to them, actually have TPD policies of insurance that cover them! We have seen people who are seriously injured or sick (even catastrophic illness or injury) who don’t have the faintest idea that they have a TPD insurance policy – as well as a TPD claim! Here are some things you should know about TPD insurance claims:
Many people who contact, or are referred to SK Legal have been injured at work, in a car, or as a result of negligence. Some have suffered life-changing illness. Surprisingly, most of them call to see whether they can claim compensation from someone else – but have not turned their mind to the fact that they may have a significant TPD claim.
However, many people are insured through their superannuation and they don’t even know it. They may not have even knowingly purchased insurance – but they have often been paying premiums from their Superannuation for years. Often the TPD insurance policies which they hold are for hundreds of thousands of dollars – and sometimes more. Further, some people may have also arranged insurance through a financial planner or insurance broker. Such professionals may have also set up a ‘retail’ TPD insurance policy on your behalf. This would often be done, for example, when/if you set up life insurance.
The bottom line is, if you’re injured or sick, and unable to work then you should consult a TPD lawyer who can assist you in working out whether you have TPD insurance – as well as assist you with any claim.