TPD Insurance Quotes: Financial Security When You Need It Most
Life can change in a split second. A car accident, a workplace fall, or a sudden neurological diagnosis can strip away your ability to work forever. If you were permanently disabled tomorrow, would you have enough cash to pay off your mortgage, modify your home for wheelchair access, and fund a lifetime of medical care?
For most Australians, the answer is “No.”
At Assurance Life Pro, we provide the financial safety net you cannot afford to be without. As your dedicated TPD insurance broker, we specialise in securing your dignity and independence. We help you obtain and compare TPD insurance quotes from Australia’s top-rated insurers, ensuring you have a policy that pays a substantial lump sum exactly when you need it to restart your life.
What Is Total & Permanent Disability Insurance?
Total & Permanent Disability insurance (TPD) provides a tax-free lump sum payment if you are totally and permanently disabled and unlikely to ever work again.
Unlike Income Protection (which pays a monthly wage for a temporary period), TPD is a “capital injection.” It is designed to clear your major debts instantly. Whether you suffer a spinal injury, loss of limbs, or a debilitating illness like MS, this cover ensures that while your ability to earn money has stopped, your financial obligations stop too.
Who Needs TPD Cover? (And Why Super Funds Often Fail You)
If you have debt or dependents, TPD is not optional; it is essential.
Mortgage Holders & Families with Debt
The primary purpose of TPD is debt extinction. If you owe the bank $600,000 for your home, that debt remains even if you are in a wheelchair. We structure your total and permanent disability cover to match your mortgage balance, ensuring your family owns their home outright if tragedy strikes.
Business Owners & Sole Traders
If you run your own show, you are the asset. If you can no longer drive the ute or manage the team, the business often collapses. A TPD payout can provide the cash to wind up the business gracefully, pay out staff, or clear business loans that are secured against your family home.
Specialised Professionals & Tradies
If you are a surgeon, a pilot, or a specialised tiler, your skills are unique. If an injury prevents you from doing that specific job, you need a policy that pays out—even if you are technically capable of working in a call centre. This is where standard Superannuation policies often fail (see below).
The Vital Difference: Own Occupation vs. Any Occupation
When you look for TPD insurance quotes, you will see two very different price points. This is because of the “Definition” of disability.
Any Occupation (Cheap & Risky): This is what most Super funds offer. To get paid, you must be unable to do any job you are suited for by education, training, or experience. If you are a surgeon who loses a hand, you can’t operate, but you could teach or work in administration. Under this definition, you get paid $0.
Own Occupation (The Broker Standard): This is what we recommend. To get paid, you only need to be unable to do your specific job. If the surgeon loses a hand, they get paid their full $2 million lump sum, even if they start a new career as a lecturer the next day.
As your TPD insurance broker, we fight to get you “Own Occupation” cover so you have genuine protection.
Key Benefits: Using Your Lump Sum to Rebuild
The flexibility of a TPD payout is its greatest strength. You can use the money for:
Debt Clearance: Paying off the mortgage to reduce monthly stress.
Home Modifications: Installing ramps, widening doors, or renovating bathrooms.
Medical Costs: Funding rehabilitation or surgeries not covered by Medicare.
Investment Income: Investing the lump sum to generate a passive income stream for life.
The Process: How to Compare TPD Insurance & Get Covered
We make the complex simple:
Needs Analysis: We calculate your debt and future income needs to set the right “Sum Insured” (e.g., $1.5 million).
Market Sweep: We compare TPD insurance policies from insurers like AIA, Zurich, TAL, and NEOS.
Structuring: We advise on whether to hold the policy inside Super (to save cash flow) or personally (for better tax treatment on payout).
Medical Underwriting: We manage the health questions and blood tests (if required) to get your policy approved.
Placement: Your policy is active, and your future is secure.
Eligibility & Application Steps
To be eligible for TPD cover, you generally need to be working at least 20 hours per week at the time of application.
Age: Available for ages 18 to 60 (coverage usually expires at 65 or 70).
Health: You must disclose pre-existing conditions. We can often get cover for people with health history by negotiating specific exclusions rather than a flat decline.
Occupation: Some high-risk jobs (e.g., underground mining) may have restricted options, which is why using a broker is crucial.
Don’t leave your dignity to chance.
FAQs on TPD insurance Quotes
Can I hold TPD insurance inside my Superannuation?
Yes, and most people do to save cash flow. The premiums are paid from your Super balance, so it doesn't affect your weekly budget. However, Super funds are generally legally restricted to offering "Any Occupation" cover only.
Broker Strategy: We often set up a "Super-Linked" policy. You pay roughly 60% of the premium via Super (Any Occ) and 40% personally (Own Occ). This gives you the best of both worlds: tax-effective payments and high-quality coverage.
What is the waiting period for TPD?
Unlike Income Protection (which has a 30-day wait), TPD usually has a 3 to 6-month waiting period. You must be disabled for this time, and doctors must agree your condition is "permanent," before the lump sum is paid.
Is a TPD payout taxable?
It depends on how you own the policy.
Personal Name: Generally tax-free. You get the full amount.
Inside Super: Tax may apply. If you withdraw the TPD money from Super before preservation age (60), you might pay tax on a portion of it. We work with your accountant to minimise this, but it's a key reason to get advice before buying.
Can I have both Income Protection and TPD?
Yes, and you should. They work together. Income Protection pays the monthly grocery bills while you are waiting for the TPD claim to be assessed. TPD then pays off the mortgage so you don't have housing costs. Most comprehensive financial plans include both.
Does TPD cover mental illness?
Yes. Severe, treatment-resistant depression, PTSD, or anxiety that permanently prevents you from working is a valid claim under most total and permanent disability cover. However, insurers scrutinise these claims heavily. Having a TPD insurance broker to advocate for you and manage the claim evidence is critical in these complex cases.