Permanent Disablement

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Eligible Ages
Minimum age: 16
Maximum age: 55 (Trade or Labour occupations) or to age 60 (Professional, Managerial or Clerical)

Eligible Occupations
Both 'Any' and 'Own' occupation benefits are available only for classes 1 - 4. Some hazardous occupations are uninsurable. To confirm eligibility please contact a Sovereign Underwriter.

Insurance Options
Level or CPI linked. If Total Permanent Disablement is selected with Life Cover as an accelerated benefit, the indexation option and premium type selected under Life Cover applies.

Term of Insurance
Renewable to age 65 or to age 70.

Benefit Period
This is a once only lump-sum payment.

Premium Guarantee
1 year

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This valuable benefit provides financial peace of mind with a lump-sum in the event of total permanent disablement through accident or illness.

Built in Features*

Provides a lump-sum benefit of up to $5.0 million, with the exception that claims for benefit amounts over $3.0 million will be limited to $3.0 million unless the criteria for activities of daily living are satisfied.

A full Application needs to be completed. Complete the Form below for a quote.

Benefit Type*

Total Permanent Disablement (TPD) cover may be included in a TotalCareMax policy in one of two ways: either as an early payment of the Life Cover (accelerated) or as an additional (stand alone) payment which does not reduce the Life Cover . The stand alone Total Permanent Disablement benefit may also be included in a policy where there is no Life Cover element. This is particularly useful when Life Cover is already held through another policy but the added protection of Total Permanent Disablement is required.

Total Permanent Disablement is available on an Own Occupation or Any Occupation basis.

Financial Advice Benefit*

Without any additional cost, a life assured can apply for reimbursement for fees paid up to $1,500 (including GST) for financial planning advice they receive within 3 months following the payment of a benefit. Reimbursement must be applied for within 3 months of receiving the benefit payment. The life assured must have received the advice from an adviser with a current financial adviser agreement with Sovereign Services Limited or a member of a financial services industry body approved by Sovereign.

* Please note that special conditions apply; please refer to the policy document

Definition of Total Permanent Disablement*

What does ‘Any Occupation Total Permanent Disablement' mean? A life assured has suffered ‘any occupation total permanent disablement’ if he or she:

a) Becomes totally incapacitated by illness or accident and, as a result of that incapacity:

Is completely unable to engage in the occupation, or carry on the business, he or she was involved in just before becoming incapacitated; and
Has not worked in any occupation or carried on any business for three consecutive months after the incapacity began; and
Is in the opinion of Sovereign, after consideration of the medical and any other evidence satisfactory to Sovereign, so incapacitated that it is unlikely he or she will ever be able to work in his or her occupation or ever engage in any other gainful employment for which he or she may be reasonably suited by education, training or experience; or

b) Suffers loss of limbs or sight; or

c) Is constantly and permanently unable to perform at least two activities of daily living (as detailed in the policy document) without the physical assistance of someone else.

Alternatively, the life assured has suffered 'any occupation total permanent disablement' if he or she is unable to perform one of the activities of daily living (as shown in the policy document) and his or her intellectual capacity has reduced or deteriorated to such an extent that the life assured requires permanent and constant supervision.

Any condition that Sovereign has reasonable grounds to expect can be reversed or improved by surgery or other treatment will not be considered to be a disablement covered by the ‘any occupation total permanent disablement' definition.

What does ‘Own Occupation Total Permanent Disablement' mean?*

A life assured has suffered ‘own occupation total permanent disablement’ if he or she:

a) Becomes totally incapacitated by illness or accident and, as a result of that incapacity:

Is completely unable to engage in the occupation, or carry on the business, he or she was involved in just before he or she was incapacitated; and
Has not worked in any occupation or carried on any business for three consecutive months after the incapacity began; and
Is, in the opinion of Sovereign, after consideration of the medical and any other evidence satisfactory to Sovereign, so incapacitated that it is unlikely he or she will ever be able to resume work in his or her own occupation: or

b) Suffers loss of limbs or sight; or

c) Is constantly and permanently unable to perform at least two activities of daily living (as detailed in the policy document) without the physical assistance of someone else.

Alternatively, the life assured has suffered 'own occupation total permanent disablement' if he or she is unable to perform one of the activities of daily living (as shown in the policy document) and his or her intellectual capacity has reduced or deteriorated to such an extent that the life assured requires permanent and constant supervision.

Any condition that Sovereign has reasonable grounds to expect can be reversed or improved by surgery or other treatment will not be considered to be a disablement covered by the ‘own occupation total permanent disablement' definition.

If the life assured has selected an expiry age of age 70:

If the life assured suffers 'own occupation total permanent disablement' or 'any occupation total permanent disablement after reaching their 65th birthday, they will be assessed under activities of daily living as detailed in the policy document.

* Please note that special conditions apply; please refer to the policy document

Additional Benefits

This cover may be written in conjunction with the full range of Sovereign's other protection benefits.

Exclusions*

A Total Permanent Disablement benefit will not be payable where the disablement is caused or contributed to by, or arises from (and in each case either directly or indirectly):

The life assured deliberately injuring himself or herself or attempting to do so.
The life assured participating in a criminal act.
The life assured deliberately taking or using non-prescribed drugs, other than for proper therapeutic or medical purpose and in accordance with the manufacturer's directions for use, or the deliberate misuse by the life assured of prescribed drugs.
Sovereign will also not pay any total permanent disablement benefit if the life assured dies within 6 months of the date that the life assured became totally permanently disabled.

*These exclusions apply to any subsequent benefit increase made by the policy owner.

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