This cover is designed to provide a lump sum if the insured is diagnosed as being unable to work again due to sickness or injury.  The benefit can be used to cover medical costs, make necessary renovations/alterations to one’s home or supplement personal income.

Is TPD insurance paid as a lump sum payment?

Yes, the policy will be paid in the event that you have been permanently disabled and unable to work in a normal capacity ever again.

Is TPD tax free?

Premiums for TPD insurance policies that are held as standalone cover outside of superannuation are not tax-deductible.  Unlike income protection, TPD insurance is not designed as a replacement income for the policy owner, instead is serves as financial compensation as a result of a permanent disability.

What is meant by the term ‘own occupation’ or ‘any occupation’ in a TPD insurance policy?

The TPD policy can be chosen to pay out if you cannot work in your ‘own occupation’ following an illness or injury or ‘any occupation.’ In most instances, the premium will be higher for cover under your ‘own occupation.’

Case Study

An artist who earns her living from painting injures her hands in a car accident and is fortunate to have a TPD policy with ‘own occupation’ covered under the policy.  Given that the medical prognosis is that the artist will never be able to paint for a living again, the TPD insurance policy is paid.  Had the artist had a policy with ‘any occupation’ cover she most likely would not have received an insurance payment as based on her experience she could still work as an educator/trainer or other roles to generate an income.

Staff Profile

Please contact the following Account Managers directly for a referral to Planned Life for this product:

Shane Richards

Account Manager – NSW

Genevieve Reed

Account Manager - VIC


Cos Cirocco

National Business Manager - State Manager SA

Kylie McGrath

State Manager
WA Branch

Karen Meiklejohn

State Manager – QLD/NT

Planned Life product support and expertise provided by:

Daniel Orrell

Business Development, Partner - Planned Life Cover

Darren Conway

Principal/Director - Planned Life Cover