I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC

Super Facts and Tips

The Risks Assessment of TPD Insurance in Australia and Netherlands


Total and Permanent Disablement Insurance of TPD was made to offer a lump sum benefit to those with life insurance if they are medically diagnosed with an illness that would render them incapable of going back to work. It also applies to serious injuries that damage the person enough that they are incapacitated and unable to work. TPD insurance is usually used in covering debts and the living expenses of the individual during times of severe financial burden and loss of income.

By definition, there exist three major types of TPD Insurance:
• Own Occupation Total and Permanent Disablement. In this TPD, the claimant should be incapable of working in their job or career ever again.
• Any Occupation Total and Permanent Disablement. Under such circumstances, the claimant must be incapable of working in their career and any other job that suits them through training, education or experience ever again.
• Non-Occupational Total and Permanent Disablement. The claimant is unable to perform 2 – 5 activities in their daily life.
• The Own Occupation TPD is said to give the highest level of security while the Non-Occupational TPD requires the greatest degree of disablement for an individual to be eligible for a claim.

Total and Permanent Disablement within Australia can be paid or owned through super accounts. While TPD is stored within Super, the 'Any Occupation' TPD is provided as the degree of disablement needed by Super Law based on ‘Any Occupation.'

TPD Insurance is not tax-deductible when taken as personal security and payments from claims are also not taxable. When TPD Insurance is held into super, though, the benefits are taxed once they are paid.

$3 – $5 million is the maximum cover that is usually available in one insurer from Australia, and the oldest entries will vary from ages 55 – 62.

Risk Assessment of Total and Permanent Disablement Insurance (TPD) in Australia

TPD insurance is usually underwritten for applications and factors involving the medical history, past times, family history and strange occupation risk factors may end up with the policy being provided with an increased premium or exclusion. For greater sums insured, more medical verifications that include blood testing and reporting from doctors are required.

The Netherlands

This kind of insurance is mainly bought by professionals who are self-employed or those who qualify as a ‘one person company'. Such insurance would cover a maximum 80% from the income after the incident.

There’s more information about risk assessment in super to be found at www.australiansuperfinder.com.au

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