When Life Changes in an Instant, How Total and Permanent Disablement Cover Can Help You Adapt
A life-changing injury or illness can turn your world upside down in a heartbeat. One day you are thriving in your career, the next you are facing a future that looks very different from what you planned.
That is where PPS Mutual Professionals' Choice Total and Permanent Disablement (TPD) Cover comes in. Here at Naked Finance, we are proud to offer this essential protection to help you adapt to new circumstances with financial security and peace of mind.
More Than Just a Lump Sum Payment
When we talk about TPD insurance, the first thing that often comes to mind is a lump sum payment if you become totally and permanently disabled. And yes, PPS Mutual TPD Cover provides that, 100% of your sum insured is paid if you meet one of the six criteria of being totally and permanently disabled.
But this product is so much more than a simple payout. It is designed to provide financial support and practical help when you need it most, giving you the freedom to make choices based on your own unique needs. Whether that is covering day-to-day living costs, funding medical treatment, or making adjustments to your home to suit a new way of life, this cover ensures you can focus on adapting without added financial stress.
The Built-In Benefits That Make a Real Difference
One of the things we love most about this product is the extensive range of benefits that come as standard. Let's break down what you are getting:
- Early Access for Partial Disability: If you do not meet the full criteria for total disability, the Partial and Permanent Disability Benefit provides 50% of your sum insured (up to $400,000) if you meet the defined functional disability conditions.
- Support for Your Financial Future: The **Total and Permanent Disablement Cover Premium Protector Benefit** applies a credit equivalent to 12 months of current premiums to your policy from the claim event date, helping to keep your cover in place during a difficult time.
- Practical Help When It Counts: This is where PPS Mutual really shines. They understand that the financial impact of a permanent disability extends beyond just the initial loss of income. The policy includes:
- Professional Advice Benefit: $3,000 to cover legal or financial advice fees after a claim is made.
- Counselling Benefit: Up to $3,000 to cover fees for a psychiatrist, psychologist, or counsellor for the life insured or an immediate family member within 12 months of the claim.
- Return to Home Benefit: Reimbursement of up to $10,000 for a one-way flight back to New Zealand for you and a support person if your permanent disability occurs overseas.
- Future-Proofing Your Cover: Your life changes, and your insurance should too. The Specified Life Event Increase Feature allows you to increase your sum insured without further underwriting following major life events like getting married, having a child, or buying a house.
Optional Benefits to Suit Your Needs
Beyond the comprehensive built-in cover, you can tailor your policy further. If you have linked your TPD cover to a Life Cover policy, the Optional Life Cover Buy Back Feature automatically reinstates your Life Cover sum insured (equal to the claim paid) if you survive six months from the claim event date. And for business owners, the Optional Business Insurability Feature allows for increases to your cover due to specific business-related events.
Standalone or Accelerated Cover
Total and Permanent Disablement Cover is offered both as a standalone cover and as an accelerated benefit linked to a specific Life Cover policy. If an accelerated benefit is issued, any payment of the Total and Permanent Disability or Partial and Permanent Disability Benefits will reduce the sum insured under both the TPD Cover and the linked Life Cover. Your adviser can help you decide which option best suits your needs.
Why Choose PPS Mutual Through Naked Finance?
Here at Naked Finance, we believe in cutting through the jargon and making insurance simple and easy to understand. We partner with leading providers like PPS Mutual to offer you high-quality, tailored protection that gives you and your family genuine peace of mind.
Ready to take the next step?
Contact the team at Naked Finance today. We will take the time to understand your unique story, explain your options in plain English, and help you build a personalised plan that protects what matters most to you.
Disclaimer: This blog provides general information only and does not constitute financial advice. Please consult the PPS Mutual policy wording for all terms, conditions, limitations, and exclusions or chat to a Naked Adviser.