TPD insurance pays a lump sum benefit for total and permanent disability due to illness or injury. It is designed to help meet one-off and ongoing living expenses, as well as covering special expenses like medical and rehabilitation costs and any home alterations required.
The insured has the option to choose between-
Own occupation: A client is only assessed against their inability to work in their 'own occupation', which is not as strict as the 'any occupation' definition. As a result, premiums are usually higher for 'own occupation' TPD cover.
Any occupation: A client must be unable to work, not only in their own occupation, but also in 'any occupation' for which they are reasonably suited by education, training or experience.