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TPD Insurance


There are many types of insurance plans available in insurance and TPD plans are one of the many beneficial plans offered to residents of this country. TPD insurance protects policy holders and their families when the policy holder falls ill or gets severely injured and cannot work again. As the name suggests, total or partiality disability insurance plans provide a lump sum payment to the policy holder when he or she cannot work again due to medical reasons.

People who buy this type of insurance are also offered additional benefits. Some of the additional benefits offered include a death benefit, a loyalty bonus benefit, buy back benefits, financial planning benefit and indexation benefit. Some insurance companies also offer an accommodation benefit that pays for the accommodation of a family member who has to be away from his or her home to take care of you if you are confined to bed due to illness or injury.

It is important to note that TPD plans are not the same as income protection plans since income protection plans offer a monthly payment to people for a limited time if they have been injured or have fallen ill and cannot work. TPD plans are also not the same as health insurance plans since health insurance plans offer reimbursement for medical bills. In addition, TPD plans are not the same as trauma insurance plans, since trauma insurance policies only offer a lump sum payment for certain medical conditions such as cancer, heart disease, stroke and loss of limb.

Unlike health insurance, to enjoy the benefits of total and partial disability plans, the policy holder does not have to pay any excess. The policy holder only has to pay premiums every fortnight or every month depending on his preference. Insurance companies usually offer at least 2 premium payment options to people who opt for this plan and the buyer can select which payment plan suits him better.

TPD insurance is usually sold along with other types of insurance plans such as life insurance and health insurance however it is also possible to find stand alone TPD plans. TPD policies can be customized and buyers have the option to opt for extra benefits such as guaranteed insurability option for business events and business safe cover options. These add on features are offered for an extra rate, however by opting for these add on features, people can ensure that they are protected in all scenarios.

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