Total & Permanent Disability
Total & Permanent Disability (TPD) insurance is usually an optional extra on life insurance policies but can also be taken out as a stand alone policy.
TPD Insurance covers serious & permanent disabilty but does not cover temporary disabilities or many traums.These are best covered by taking out income protection or trauma policies.
TPD insurance is a lump sum payment paid to yourself.
It is generally paid when you have been advised by a medical specialist that you will never work again.