If you have an accident or illness, a permanent injury or disability can make returning to work an impossibility. One of the best ways to ensure you have a financial safety net is by securing Total Permanent Disability Insurance. Whether you have TPD Insurance in Super or a private policy, it can help you support your family, pay for medical costs, and fund your rehabilitation.
Total Permanent Disability (TPD) Insurance Defined
TPD or Permanent Disability work cover provides for you if an injury or illness leads to a permanent disability if you are unable to work. Total and Permanent Disability (TPD) claims pay a lump sum to cover living expenses, as well as medical costs. It may alleviate some of your financial concerns while you focus on healing or adjusting to your new way of life. Total permanent disability in super generally covers any occupation, but private policies can encompass your own occupation.
Own occupation cover is if you are unable to work the job you had been in before your disability. It’s an expensive option, but it is easier to secure a payout.
Any occupation covers you if you are unable to work in any job suitable for your experience, education or training. This is generally what covers you in super. It’s cheaper cover, but it is less likely to pay out because it has a much higher claim threshold.
Examples of TPD Accidents You Can Claim For
There are a range of injuries or illnesses that would qualify you for successful Total and Permanent Disability (TPD) claims, whether you have a private policy or you have total permanent disability in super cover.
For example, physical injuries that could result in a successful TPD claim include loss of a limb, loss of speech, loss of hearing, paralysis, or spinal fusion. Mental injuries or illnesses could include anxiety, depression, PTSD, and schizophrenia. As for illnesses, cancer, MS, Parkinson’s, Alzheimer’s, and COPD have all been successful TPD claims. The most common claims include heart attack, cancer, stroke, depression, PTSD, and loss of a limb.
To give an example of a successful claim, Daniel is a 38-year-old plumber. He was in the car with his partner when it was rear-ended and sent into traffic where they met another car head-on. Due to the nature of his employment, Daniel had his own ABN. Though the police and ambulance arrived on the scene, nobody went to the hospital. He got a lift to work and told his supervisor about the accident, explaining he was feeling sore. The supervisor instructed Daniel to carry out light duties, directing him to show a newer employee how to carry out certain tasks. Later that day Daniel felt pain in his neck and back, he left work early and went straight to the doctor.
Daniel had several scans taken and the results showed nerve damage in his lower back. By this point, Daniel was feeling anxious and depressed because of how the injury was impacting his daily life. His doctor recommended speaking to a lawyer who could look into a TPD claim. Daniel had attempted to try a few light-duty shifts but was ultimately unable to return to work. His only experience and training were in plumbing work and unable to perform this, he was unable to return to the workforce.
He didn’t expect his claim to succeed because he hadn’t been working in the position long and there wasn’t much in his super. That is irrelevant as to whether your claim is successful and doesn’t determine the payout. As long as your policy is active when the accident occurs, you can file a claim. You can also file multiple claims if you have more than one active TPD policy.
Do Time Limits Apply to TPD Insurance Claims
There is generally no time limit to apply for a TPD insurance claim. Some policies may have specific details, but it’s uncommon.
Some funds have a rule that claims must be made prior to the termination of employment. While others allow you to file a claim as long as your policy was active when the illness or injury occurred.
Most people would file a TPD claim if they realised they could do so. Unfortunately, a lot of people don’t realise they hold the cover in super. Ideally, the sooner you lodge a claim the better because it means it is easier to collate the necessary information. For example, as time passes, doctors tend to retire, medical records get lost, and it becomes harder to make the case. The best course of action is to speak to a legal expert who can look into the policies you held at the time or hold now that would be more suitable to file a claim against.
How AJB Stevens Can Help
AJB Stevens have vast experience in filing TPD claims. We can help determine whether you are eligible, and what the right steps are to ensure the success of your claim. There can be complications to handle when worker’s compensation claims are also at play. The best way to ensure you receive everything you are due is to work with a skilled legal team who have experience in TPD claims. Get in touch with AJB Stevens to schedule your free consultation.
You should also reach out if you are still working, but struggling because of an illness or injury. Whether you are thinking about reducing your work hours or ceasing work, you should always seek legal advice first. Likewise, if you were forced to cease work years ago as a result of injury or illness, it might not be too late to file a TPD claim.
