tpd

Benefits of a TPD Plan

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Total Permanent Disability Insurance or TPD insurance plans can be a standalone plan or an add-on to other life insurance plans. When you buy an insurance package, you can opt for a basic plan, a premium or a more comprehensive plan.

TPD plans are cheap for a non-smoking young adult, who does not have any pre-existing health condition. A more comprehensive TPD plan, on the other hand, gives a maximum compensation payout for a higher premium.

To be eligible for a TPD plan, you have to be an Australian resident, employed or self-employed and on a certain age. Child life insurance plans are different from TPD plans and have different eligibility criteria.

If you buy a TPD plan, the most important benefit is a lump sum payment given to you once your claim application is approved by the insurer. This lump sum may be used to pay for medical bills, repay loans, run a household or any other payments. The lump sum ensures the policyholder will have the money to pay for different expenses because of disability.

What can you do?

If you would like to know more about TPD insurance plans, you can click here to know more about Chan & Naylor services. You can leave your details here and we can schedule you for a free consultation. We’ll contact you to explain more.

Whether you are a beginner, seasoned investor or business owner, we can give you guidance to maximise the financial areas of your life. We can give you an integrated and tailored solution of your superannuation, taxation, property investment, asset protection, estate planning and more.

Click here to schedule a chat or call any of our local offices near you.

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Chan & Naylor Group has nationwide offices in Brisbane and Capalaba in Queensland, Melbourne and Moonee Ponds in Victoria, East Perth in Western Australia, and South West Sydney, Parramatta, Pymble, North Sydney, and Sydney in New South Wales.

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