Total and Permanent Disability Cover

If you’re absent from work for at least three months due to illness or injury, Total and Permanent Disability (TPD) Cover will pay you a lump sum. This money is for you to use however you wish, whether it be covering medical bills, taking care of the mortgage or assisting with transitional costs into a new job.

Features and benefits

The package can be combined with Trauma Cover and/or Life Care, or purchased on its own. As well as the TPD Benefit, it contains several added benefits. These include:

• Death Benefit: If you have a standalone TPD Cover policy and there is no TPD Cover benefit payable on your death, we'll pay a lump sum of $10,000.
• Interim Accident Cover: Covers you for accidents while we’re processing your application.
• Financial Planning Benefit: Helps cover the cost of financial planning once a TPD claim has been paid.
• Severe Hardship Booster Benefit: Pays a higher TPD Cover benefit if you suffer specific conditions.
• Loyalty Bonus Benefit: Rewards you for keeping your cover by paying 5% higher TPD benefit after five years.
• Accommodation Benefit: Helps cover the cost of accommodating a family member who has to be away from home to be near you if you’re confined to bed away from home.
• Indexation Benefit: Increases your cover in line with inflation each year.
• TPD Cover for homemakers: A TPD definition that allows cover for stay-at-home parents.
• Immediate payment: You’re only required to be absent from work for three months due to illness or injury for a claim to be considered. For some specific illnesses, claims will be considered from day one.

Applying for TPD Cover

• Contact your adviser
• Speak with a Customer Service Consultant on 13 10 56 from 8am to 8pm (EST), Monday to Friday
• Drop in to a Commonwealth Bank branch and speak with a Commonwealth Financial Planner.

 

• Important Information
  Please refer to the relevant Product Disclosure Statement for full details of these benefits and when they are payable.
  
  As this advice (including the statements on taxation which are based on present taxation laws, rulings and their interpretation) has been prepared without considering your objectives, financial situation or needs, you should, before acting on it, consider its appropriateness to your circumstances. You should seek advice from your taxation adviser in relation to taxation matters.
  
  Income Care, Income Care Plus and Business Overheads Cover (the Income Care Range), Life Care, Total and Permanent Disablity Cover (TPD Cover) and Trauma Cover form part of Personal Insurance Portfolio. Personal Insurance Portfolio is issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 (CMLA).
  
  CMLA and the Trustee are wholly owned subsidiaries of Commonwealth Bank of Australia ABN 48 123 123 124. Commonwealth Bank of Australia does not guarantee the obligations or performance of CMLA or the Trustee or the products they offer.
  
  Product Disclosure Statements (PDSs) describing the Personal Insurance Portfolio are available from your Financial Adviser, by downloading it from this website or by calling 13 10 56 (from overseas call +61 13 10 56) and should be considered in making any decision about these products.