Total and Permanent Disablement cover
Protecting your loved ones
We don’t always like to think about not being able to provide and care for ourselves and our loved ones—but if something did happen, it’s comforting to know that you’re covered.
Total and Permanent Disablement (TPD) cover pays a benefit if you can't work again because you became totally and permanently disabled.
What’s TPD insurance cover?
If an illness or injury meant that you can't ever work again— TPD pays a benefit which you could use to cover the costs of care, rehabilitation, loan repayments and future costs involved with day-to day living expenses.
How does a TPD payment impact Death cover?
TPD cover is only available to you if you also hold Death cover.
Generally, if you were to receive a TPD benefit payment, your Death cover will be reduced by the amount of the payment. For more information about when your insurance cover changes, see your Insurance Guide which is part of the relevant Product Disclosure Statement (PDS).
Am I eligible for TPD cover?
The eligibility criteria that apply to you will depend on your age, gender, the product you've got with us, your occupation, as well as any arrangements that your employer has with us.
For more information please see your Insurance Guide which is part of the relevant Product Disclosure Statement (PDS).
FAQs
Here are some questions our members have asked about Death & TPD cover and Terminal Illness:
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The cost of your insurance cover may depend on your age, gender, occupation, medical history, health factors, income and employment arrangements.
If you’re an MLC MasterKey Business Super, or MLC MasterKey Personal Super, or MLC MasterKey Super Fundamentals member, you can log in to your member account to view your insurance premium rates.
To learn more about the cost of insurance cover, find the Insurance Premium Rates flyer below:
- The MLC MasterKey Business Super (standard) or MLC MasterKey Personal Super Insurance premium rates
- The MLC MasterKey Super Fundamentals Insurance Premium Rates
Keep in mind if you belong to a large employer plan, you’ll generally be charged tailored insurance premium rates. If this applies to your insurance cover, we’ll provide these to you in your Welcome Kit when you join us, and in any important communications we have since sent to you if they're changed.
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To apply for TPD cover, you’ll need to complete an Insurance application form. You can complete and submit the Insurance application form located in the Forms & documents section when you log in to your account.
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Even if you have TPD cover, a benefit won’t be paid within 13 months of starting, restarting or increasing your insurance, if you:
- take your own life (this exclusion does not apply to Assisted Dying Programs), or
- are disabled as a result of an intentional self-inflicted injury.
If you’re an MLC MasterKey Business Super member, this only applies to voluntary insurance cover.
If you are an MLC MasterKey Super Fundamentals member, different exclusions apply.
For more information about When won’t a benefit be paid, see your Insurance Guide which is part of the relevant Product Disclosure Statement (PDS).
Daniel's story
Daniel was 29 and living life to the full when he had a serious surfing accident that left him totally and permanently disabled, and unable to ever work again. He had Death and TPD insurance cover of $415,000 and was able to make a successful claim.
Daniel’s parents, Ron and Sarah, had paid off the family home and were looking forward to a financially secure retirement. After Daniel’s accident, they didn’t have to consider taking on new debt to help pay for Daniel’s rehabilitation and ongoing care costs, because he received a lump-sum benefit.
With Death & TPD cover, Daniel’s lump-sum payment contributed to the cost of his care, providing him with greater financial independence, while making sure his parents weren’t significantly impacted financially in their retirement.
The lump-sum payment helped to replace some of the income and super Daniel would have otherwise earned during his work life.
Other types of cover
Death cover
If you pass away or you’re likely to pass away within 24 months due to a terminal illness—you’ll be able to financially assist your loved ones through a paid benefit.
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