Depending on your superannuation policy, part of your contributions may be paying for insurance. There are usually two types of insurance cover – Total and Permanent Disability (TPD) cover and Total and Temporary Disability (TTD) cover.
What’s the difference?
Claims for Total and Permanent Disability (TPD) can be made if you are mentally or physically injured or ill. To qualify, you need to demonstrate you are no longer able to work in your normal occupation or for any other job related to your education training or experience.
The injury also needs to be permanent. TPD claims are usually paid as a lump sum.
On the other hand, claims for Total and Temporary Disability (TTD) replace income loss for a defined period. To qualify, you need to demonstrate the injury or illness is preventing you from working in your trained profession. For example, a construction worker may break an arm and cannot work for 8 weeks while the injury heals. A TTD claim could be made for lost wages during that period that the construction worker is unable to work, subject to any exclusion waiting period.
How much can you claim?
Regardless of whether you are making a TPD or TTD claim, the amount you receive depends on your cover amount and your normal income. In addition, your insurance cover may contain certain exclusions or eligibility criteria that could affect your claim. For example, claims relating to a pre-existing illness or injury (like a back injury) may be excluded.
If you believe you may be entitled to make a TPD or TTD claim, talk to one of the specialist compensation lawyers at Taylor & Scott Lawyers. We have helped many people successfully make claims on their TPD and TTD insurance policies.
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