Who can benefit from this type of cover?
This type of insurance may assist someone who wants to help ensure their financial security in the event they become totally and permanently disabled, either through sickness or injury. If the insured person has a family that relies on their income, a TPD Benefit can help reduce the likelihood of the family suffering financial stress. The benefit can be used for:
- Repayment of debts such as mortgages, loans or credit cards
- Rehabilitation and medical expenses
- Home modification costs
- Financial support to make necessary lifestyle adjustments
- Protection of a business in the event that a key person permanently exits the business, due to total and permanent disablement