TPD Insurance is held in superannuation however a claimant who withdraws the proceeds of their account superannuation account balance, to which a TPD benefit is usually credited to, is taxed. The maximum level of cover normally available with one insurer in Australia is generally $3 – $5 million with the oldest entry ages varying between 55 - 62. Risk Assessment of TPD Insurance in Australia TPD Insurance is normally underwritten on application and factors such as medical history, family history, past times and unusual occupational risk factors can result in a policy being offered on with exclusions or an increased premium. For higher sums insured, additional medical verification including blood tests and reports from doctors is usually required. Claiming Total and Permanent Disability insurance in Australia Having a claim for Total and Permanent Disability insurance approved can be a cumbersome process for the insured. In Australia, the vast majority of TPD insurance policies are provide by superannuation funds. These funds offer products that are typically more basic than what can be found in the Retail Insurance space. Generally, TPD provided by super funds will require that you have been off work for a period of at least 6 months before they will consider a claim. After this period of time has been met, the claimant will need to provide evidence that two of their treating medical practitioners have certified that the claimant will be unable to ever return to work in any occupation for which they are suited by way of education, training and experience. The process of determining this involves a number of aspects with many claimants seeking professional advice by way of Financial Advisors and Lawyers. The Netherlands This insurance is mainly purchased by self-employed professionals, it is also called 'one person company'. This insurance would cover maximum 80% of the income after the accident. In Dutch, the total permanent disability insurance is called Arbeidsongeschiktheidsverzekering. Distinctions TPD differs from income protection insurance in that: TPD pays out a lump sum of a policy-specified amount, whilst income protection insurance is designed to replace income and pays out a specified percentage of pre-disability income (e.g. 75%) on a regular basis (e.g. monthly) the insured person must be totally disabled on a permanent basis for the insurer to pay out, rather than just totally or partially unable to work. References External links Insurance law Types of insurance