Many people have both Total and Permanent Disability (TPD) insurance AND income protection cover. Often both policies are secured at the same time.
What is TPD?
TPD insurance generally provides a lump sum benefit if it becomes unlikely that you will ever work again in either your own or any occupation.
What is income protection?
Income protection is usually a monthly benefit (often up to 75% of your regular income) paid while you are unable to work once any waiting period has been reached (usually 30 to 90 days). This is sometimes referred to as salary continuance cover.
