AXA Total and Permanent Disability Insurance Plan

Information verified correct on October 1st, 2016

AXA TPD Plan Review

When accidents happen or you are seriously ill, it can be very stressful for you, emotionally and financially, if you have to take time off work for an extended amount of time. But, what if your disability is so significant that you are no longer able to work? Will your hard-earned savings be enough to sustain your family's lifestyle and ongoing needs? Will you be able to meet the payments for your medical expenses and the costs of rehabilitation when it's required?

This is when total and permanent disability cover from AXA can be helpful, especially when dealing with significant disability. Total and permanent disability (TPD) insurance provides a lump sum benefit payment in the event of disability and the policy holder is unlikely to work ever again.

AXA no longer exists in Australia and has now merged with AMP Life Insurance

Compare Policies Available from AMP
Are you an existing AXA customer?

For all general insurance, superannuation, retail or wholesale investment enquiries, please contact AMP:

  • Phone: 137 292
  • Email: client.enquiry@amp.com.au

TPD can be linked with your existing life insurance with AXA or owned as a standalone policy. Having TPD will give you the benefit of being covered for total disability and the benefit payment can be used to cover any financial obligations as you see fit. These include medical expenses, rehabilitation programs, and equipment used for the rehabilitation of the person. Some policies even include payment for the care received by the disabled.

Disability can Affect Any Australians

Many Australians are still significantly underinsured, while some may not even consider life insurance as something of a necessity. Some people even think - 'why pay for something if nothing is ever going to happen to me?'

However, Australian Bureau of Statistics findings have told a reality of something much different. In 2009, there were over 22% of the Australian population between 15 to 64 years of age suffer from some sort of disability and as many as 15% of them were at prime working age. 51% of people with disability were women.

Therefore, either you are the main income earner in the family or the primary carer of the household, it is important to consider total and permanent disability cover to protect the your family's financially. While you'd hope that nothing ever happen to you, at least you will have the peace of mind knowing that if anything should happen, you won't have to worry about money when an AXA TPD cover is in place.

AXA Total and Permanent Disability Insurance Plan Types

The AXA Total and Permanent Disability Insurance Plan has three types of definition – TPD own occupation, TPD any occupation, and Activities of Daily Living TPD or ADL. These types differ on their definition of what disability is and the benefits the insured person gets when disabled.

Furthermore, the TPD Insurance Plan can be purchased in three ways:

  • TPD as a plan allows you to buy TPD independent from the life insurance plan
  • TPD as an option will let you purchase TPD as an additional option to your life insurance plan.
  • SuperLink TPD works like the TPD as an insurance option in terms of pricing and function. They can be attached to your life insurance plan, as well. However, there are certain parameters in the SuperLink TPD must match the other options in the life insurance plan. This means that if one feature is accepted in one plan, it should also be accepted on the other connected plans.

AXA Total and Permanent Disability Insurance Plan Benefits

Positioned as one of the global leaders in the financial market, AXA offers a competitive benefits package in their AXA Total and Permanent Disability Insurance Plan which includes:

  • ADL TPD

which you will be paid if you are likely to need future care and has suffered severe cognitive impairment.

  • Future Insurability Benefit

This allows you to increase your cover every year without submitting additional medical proof.

  • Indexation benefit

This protects your benefits against inflation by automatically increasing your cover until you are 65 years old in line with the Consumer Price Index or CPI.

  • Accommodation Benefit

A maximum of $150 per day for a maximum of 14 days will be paid to you if you remain confined to bed during that period and a friend or family member has to travel to care for you.

  • Financial Plan Benefit

This benefit is paid to your financial adviser if you have obtained a financial plan from him within 6 months after you have been paid 100% of your benefit.

  • Upgrade of benefits

This gives you the access to upgrade or made improvements on your plan without providing additional medical proof.

  • 24/7 Worldwide Cover

With AXA TPD, you have the assurance that you are covered anytime, anywhere in the world.

No one knows the future but you can prepare for it. And one of the best preparations you can have is by having the AXA Total and Permanent Disability Insurance Plan. Why wait for something to happen when you can act on it before it happens?

Was this content helpful to you? No  Yes

Related Posts

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

Ask a question
feedback