Permanent Disability Cover
| Eligible entry ages | Accelerated: 16 – 60* Stand Alone: 16 – 55* |
| Maximum sum insured | Own Occupation: $3,000,000 Any Occupation: $3,000,000 |
| Eligible occupations | Own Occupation: Medical and legal professionals, professionals and administration. Any Occupation: Most occupations are eligible. However, some will be uninsurable or will have limited cover due to the nature of the duties involved. |
| Cover ends | Accelerated: Age 70 Stand Alone: Age 65 |
| Benefit type | Lump sum payment |
| Free look period | 14 days to ensure you are happy with your policy |
| * ages outside of this range will be considered on an individual basis. |
What is permanent disability?
A permanent disability is a disability that is so severe that you cannot work at all for six consecutive months. In addition, following that period you are still so incapicitated by that illness or injury that you are unlikely to ever work again in your own occupation or any occupation depending on the type of cover you have selected.
What are the types of cover?
You have two options:- Permanent Disability Cover – Own Occupation
If you choose Own Occupation, in the event of having to make a claim, the claim will be assessed on your ability to work in the occupation you were employed in immediately prior to the claim being made.
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Permanent Disability Cover – Any Occupation
Any Occupation assesses your ability to perform in any occupation for which you are reasonably suited – by education, training or experience – which would pay at least 25% of your pre-claim earnings (base on your last 12 months earnings in paid employment).
For more information about TMFNZ products, please complete the TMFNZ enquiry form.
