Total & Permanent Disability Cover (TPD) is a policy which designed to pay a lump sum of money in the event a person insured cannot perform two out of five daily activities, for instance the person will remain in the wheel-chair for the rest of his or her life. The person cannot walk and cannot look after him-self or herself- it means that the policy definition is met and it triggers the policy payment which will be made by the insurer. In my view “TPD” amount of cover should be as much as your home loan or your combined financial obligation. For instance your home loan is $300,000 therefor I would always recommend to have either “Income Protection” or “TPD” and recommendations would depend on your personal circumstances.
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