CommInsure TPD Insurance

Information verified correct on October 1st, 2016

Receive tailored cover for total and permanent disablement with CommInsure?

If you already have an existing life insurance policy, you may to consider total and permanent disability insurance included in your cover. TPD cover is becoming more important today than ever before as people are now living longer compared to their parents and grandparents. Many as a result of medical developments that are keeping them alive whereas in the past they would most likely have died.

TPD cover from CommInsure can protect you from the financial difficulty that may arise from having a permanent disability. You can obtain total and permanent disability-insurance through a CommInsure Total Care Plan, as part of a total care plan super product or as a stand alone insurance policy. CommInsure total and permanent disability-insurance will pay a lump sum payment if you suffer an illness, or injury, that prevents you from working ever again.

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Coverage is the amount of money that you will be paid in the event of a claim. An insurance consultant can help you determine an appropriate amount. Calculator
Provides a lump sum payment if you become totally and permanently disabled and are unable to return to work.
Provides a lump sum payment if you suffer a serious medical condition. Cover can be taken out for 40-60 medical conditions depending on the policy you choose.
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What does the policy cover?

There are many benefits to be enjoyed from having a CommInsure Total and Permanent Disability insurance cover, either on its own, or added as a rider to other eligible CommInsure products. These benefits are included here:

  • The main benefit being that it will pay out a lump sum of money when you need it most. This will occur if you become totally and permanently disabled, as a result of a sickness or injury, to the extent that the prognosis is that you will never be able to work again. A lump sum payment will also be made to your beneficiaries if you were to die.
  • There is a Continuation Benefit that will allow you to get a new life care policy without having to undergo another medical examination. This is effective after you have made a successful claim on your stand alone total and permanent disability cover.
  • If you were unfortunate enough to suffer a serious accident while you application is being processed you will be protected by an Interim Accident Cover.
  • The Accommodation Benefit makes it easier for a family member to be by your side while you are incapacitated and confined to bed. This benefit helps to cover any cost involved while the family member is away from home to be able to be near you.
  • A Buy Back Benefit will allow your life care cover to be reinstated after a period of one year. Life care is reduced when a full total and permanent disability claim is paid but is reinstated again after 12 months with this buy back benefit.
  • Keep your cover and you will be rewarded under the Loyalty Bonus Benefit. This loyalty bonus will have you receiving an increase of five percent more total and permanent disability cover.
  • Under special conditions a Severe Hardship Booster Benefit is payable. This particular benefit pays a higher total and permanent disability cover under specific conditions.
  • You or your dependants may need help managing the proceeds of any claim paid out on this type of policy. This is why CommInsure have included a Financial Planning Benefit. This benefit will help pay for financial advice under stressful circumstances.

Additional options to consider

  • The main options you can include with a total and permanent disability insurance policy taken out with CommInsure is that of Guaranteed Insurability. This option will allow you to increase your total and permanent disability cover without you having to undergo any further medical examinations when you increase your business loan; add to the value of the key person in your business; when you increase your financial stake in your business; or when your business grows in value.
  • There is also a Business Safe Cover option that works in a similar way as does the Guaranteed Insurability option. This specific option will have you assessed for up to three times the amount of cover you initially take out so that your cover can be increased at a later date without any further medical examinations being necessary.

Exclusions to be aware of

No TPD Cover benefit is payable if you become totally and permanently disabled by any intentional self-inflicted injury or attempted suicide. A benefit will also not be paid if all of the following applies:

  • You don’t also hold Life Care under the same policy
  • You suffer a “day one condition” (including major head trauma, paraplegia, quadriplegia, Alzheimer’s disease, blindness and loss of hearing)
  • The TPD definition under which the claim is made includes a requirement that, as a consequence of the day one condition, you must be absent from active employment or unable to perform home duties
  • You die within eight days from any cause after first being diagnosed with the day one condition

Finally, no benefit is payable for any condition that arises as a result of a permanent or temporary banning, reregistration or disqualification due to disciplinary action taken against you, and which prevents you from engaging in your occupation or profession.

Who is eligible for CommInsure TPD Insurance?

The eligibility age for CommInsure TPD Insurance varies according to your choice of premium structure:

  • Stepped premiums: Entry age of 17-59
  • Level premiums: Entry age of 17-54

Cover expires on the policy anniversary before your 65th birthday.

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