Total and Permanent Disablement Cover

Priority Protection

Entry Age
(next birthday)

16 years

Expiry Age
(policy anniversary prior to)

55/65/70 years

You can buy this via a
Financial Adviser

What is this product about?

Have you considered how you'll replace lost income, or cover the expenses of lifestyle adjustments, if you were to ever suffer a serious injury or sickness? This could change your lifestyle completely.

Total and Permanent Disablement (TPD) cover can make sure your lifestyle is covered if an unpredictable event happens.

AIA Australia has prepared a Target Market Determination which describes the class of consumers that comprise the target market for this product. The Target Market Determination can be sourced at aia.com.au/tmds.

Total and Permanent Disablement Cover eligibility

Occupation Categories AAA, AA, A & B: Entry between ages 16 & 64 (next birthday)

Occupation Categories C & CT: Entry between ages 16 & 60 (next birthday)

Occupation Categories D: Entry between ages 16 & 55 (next birthday)

Occupation Category E: Entry between ages 16 & 50 (next birthday)

Home Duties: Entry between ages 16 & 64 (next birthday)

Please refer to the Product Disclosure Statement (PDS) for a list of Occupation categories.

Occupation Categories AAA, AA & A: age 70

Occupation Categories B, C, CT & D: age 65

Occupation Category E: age 55

Home Duties: age 65

Please refer to the Product Disclosure Statement (PDS) for a list of Occupation categories.

Bob's Story

The right advice, at the right time, provides the right cover when accidents strike.

Bob is 45 and works as a carpenter for a small furniture company that makes bespoke pieces. His boss suggested to all his staff members that they should look to take out insurance cover so in the event that anything happened to their health or they had a serious injury at work, they would be protected financially.

Bob talked to a financial adviser who suggested that due to his trade he be covered with TPD and Crisis cover.

In 2014, Bob was involved in a car accident and lost his right arm and one eye which rendered him unable to perform his job. Fortunately Bob had a TPD benefit as part of his life insurance policy which paid him a lump sum of $445,207 shortly after he was discharged from hospital. Bob was single at the time of the accident and couldn't rely on anyone to help him financially during this extremely difficult time.

Receiving the lump sum claim payment meant that Bob was able to afford his medical bills including paying for an Occupational Therapist. He was also able to employ builders to make modifications to his house. These alterations, plus some home help during the week, were only possible because of the claim payment.

Best of all for Bob, the TPD lump sum payment ensured he could continue to support himself and live comfortably in his house without having to move.

* This is an example only to illustrate the potential benefit of taking out TPD, and should not be relied upon as indicative of benefits payable under the Total and Permanent Disablement benefit.

What does this provide?

TPD Benefit

Provides you with a lump sum benefit if you become totally and permanently or partially and permanently disabled and: - are unable to work or - are unable to perform domestic duties or - suffer total or partial disablement that prevents you from performing a number of every day activities.

Partial and Permanent Disablement

Provides you with a lump sum benefit equal to the lesser of $750,000 or 25% of your sum insured, should you suffer the permanent loss or use of one arm, one leg or sight in one eye.

Financial Planning Reimbursement

Covers any financial advice costs up to $3,000 to assist with managing or investing your claim payment for death or terminal illness.

Premium Freeze

Gives you the flexibility to keep your premium the same each year by reducing your sum insured.

Insurance lingo explained

This is the amount you are covered for. This is stated on your policy schedule.

This is a single, large claim payment.

Health events covered are:
- Cancer events (e.g. skin cancer)
- Coronary events (e.g. heart attack)
- Other serious crisis events (e.g. major head trauma)

Do You Want Additional Peace Of Mind?

Additional options are available for you to customise your cover to make sure it suits your individual needs.

TPD Buyback

Where life cover has been purchased in addition with TPD cover, you have the option to re-purchase your life cover sum insured that has been reduced from a TPD claim payment.

Forward Underwriting

When certain life events occur, you can increase or purchase new cover without having to provide further evidence of health.

Family Protection

Gives you the option to purchase additional cover of up to $200,000, should one of your dependant children experience a health event or is diagnosed with a terminal illness.

Customise you cover

Double Total and Permanent Disablement

Consider Double TPD when you require life cover with a linked TPD benefit. The advantage of this benefit is if you become totally disabled, the life cover sum insured will not reduce and we will waive the life cover premiums until the policy anniversary before the expiry age.

Universal Total and Permanent Disablement

This provides you with a lump sum benefit if you become severely disabled and require continuous care.

Double Universal Total and Permanent Disablement

Where a Double Universal TPD benefit is paid due to total disablement, the life cover sum insured will not be reduced and the life cover premiums will be waived up until the policy anniversary before the expiry age.

Accidental Total and Permanent Disablement

Provides you with a lump sum benefit if you become totally or partially disabled due to an accident only.