TPD Cover
When an illness or injury permanently prevents you from working in your occupation or any occupation, Total and Permanent Disability Cover (TPD) can provide a lump sum benefit, which can help you reduce financial stress, maintain your quality of life, pay off your mortgage, fund your children's education as well as out-of-pocket medical expenses and retirement expenses.
Up to $10M+ cover available
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3 Types of TPD Insurance
It’s important to note that there are three different types of TPD insurance –
Own Occupation, Any Occupation TPD insurance and Activities of Daily Living (ADL).
These have significantly different TPD insurance meaning.
Own Occupation
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Own Occupation pays out if you make a claim because you can't work permanently in the occupation you’re working in at the time of your claim.
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TPD (any occupation) cannot be 100% funded by your superannuation, which means it might incur a small part of out-of pocket cost. For example: Out of $500 of TPD yearly premium, you will need to pay $100 out of pocket and the rest of $400 paid via your superannuation.
Any Occupation
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Any Occupation pays out if you make a claim because you can't work permanently in any occupation that matches for your experience, education or training.
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TPD (any occupation) can be 100% funded by your superannuation, which means you can avoid any out-of-pocket cost.
Activities of Daily Living (ADL)
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Activities of Daily Living (ADL) pays out if you unable to perform at least two of six activities of daily living. Some of these include: feeding yourself & bathing yourself.
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ADL can be 100% funded by your superannuation, which means you can avoid any out-of-pocket cost.
What Does TPD Include?
Covers a wide range of needs — from debts and living expenses to your family’s long-term financial security in the event of disability
Medical and rehabilitation costs
Serious disabilities can create major expenses not fully covered by Medicare or private health insurance. Examples: Rehabilitation, Specialist treatments, Physiotherapy, Mobility equipment, Ongoing care support
Mortgage Protection
You may choose to clear the mortgage entirely so there’s less financial pressure.
Home and lifestyle modifications
Some disabilities require changes to daily living.
Examples: Wheelchair-accessible renovations, Vehicle modifications, Moving to a more suitable home, Hiring ongoing assistance or carers
Income Replacement
If you can no longer work, there may be decades of lost earnings ahead.
Education Funding
A lump sum paid to you, you may allocate part of the funds specifically for 10–15 years of future school expenses.
Real Case Screnario
Any Occupation VS Own Occupation
James is a dentist. He badly injures his arm in an accident and is unable to work as a dentist again.
Own Occupation | Any Occupation |
|---|---|
James can claim on an Own Occupation TPD policy. He was working as a dentist when he was injured and cannot return to this job. | James can only claim on an Any Occupation TPD policy if he cannot work in any occupation he has experience, education, or training in. |
James used to work as a dental assistant before becoming a dentist. His Any Occupation claim may be denied if he could still work as an assistant.
The main difference here is in an Any Occupation policy, insurers may decide you're still fit to work based on your education, training and experience.
Essentially, you have a much higher barrier to claiming under an Any Occupation policy.
Who Should Have TPD Cover?
TPD insurance is essential for anyone whose family depends on their income. Here are the most common groups we help:
Families With Mortgages
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Homeowners with dependants
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Couples with shared mortgages
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Parents of young children
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Multi-income households
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Young Professionals
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Early-career professionals
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New parents
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First-time homebuyers
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Couples planning families
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Business Owners
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Sole traders
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Business partners
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Directors with staff
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Practice owners
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How Much Does TPD Cover Cost?
Life insurance premiums vary based on several factors. On average, Hippo Wealth customers pay $35-$85/month for $1M in cover, but your actual cost depends on your individual circumstances.
Your Age
Younger applicants typically pay lower premiums than older applicants.
Health History
Pre-existing conditions may affect your premium or eligibility.
Smoker Status
Smokers typically pay 2-3x higher premiums than non-smokers.
Cover Amount
Higher coverage amounts mean higher monthly premiums.
Occupation
High-risk occupations may have higher premiums.
Policy Type
Any occupation vs. Own occupation policies have slightly different cost structures.
Can I get TPD through my super?
Yes, many superannuation funds automatically include TPD coverage.
However, It's important to note that TPD insurance provided by super funds is typically limited Any Occupation coverage, as Own Occupation coverage is not available through superannuation alone.
Additionally, some super funds may require you to undergo an Activities of Daily Living (ADL) assessment to evaluate the severity of your disability. This means they may only provide payout if you are unable to perform basic tasks such as feeding yourself, moving independently, or maintaining personal hygiene.
The level of TPD coverage in superannuation can vary significantly, leading the Australian Securities and Investments Commission (ASIC) to issue warnings about the large discrepancies between default TPD coverage and associated costs in super. For some individuals, the TPD coverage offered by their super fund may be sufficient. However, it's essential to take the time to review your superannuation cover, understand what it includes, and determine how much of your retirement savings are allocated to it.
If you feel that your superannuation TPD coverage is inadequate but still want TPD protection, our team can assist you in comparing different policies.
3 Easy Steps To Get Covered
Compare
We compare TPD policies across Australia’s leading insurers. You receive a clear, side-by-side summary of cover, definitions, exclusions, and premiums; all in plain language. This is general advice: you see the full market, not a single recommendation.
Confirm
You review your options and choose the level of cover that suits your needs — from protecting your family to clearing debt.
We’re here to answer questions, but the decision is entirely yours. No obligation to proceed.
Complete
Once you’ve selected your cover, we manage the full application process — including underwriting, medical disclosures, and policy setup. We handle the details, keep you informed, and ensure your cover is active when you’re ready.