Personal Protection Products
Disability Insurance
Disability Insurance
A lump sum payment should you become permanently disabled.
What is Disability Insurance:
Disability insurance, often called Total and Permanent Disablement (TPD) cover in New Zealand, provides you with a lump sum payment if you become permanently unable to work due to serious injury or illness. You usually pay a regular premium (monthly, quarterly, or yearly) to keep the policy active. If you meet the definition of total and permanent disablement, the insurer pays out.
What can Disability Insurance be used for:
You can use this money to cover things like ongoing living costs, medical expenses, home modifications, or debt repayments. Because your ability to earn an income can change if you become totally and permanently disabled, having TPD cover can help safeguard your financial future and provide some peace of mind for both you and your loved ones. As with any insurance, it’s wise to compare different policies and speak to an adviser to ensure you get the right level of cover for your needs.
How premiums work:
Like many other insurance types in New Zealand, Total and Permanent Disablement (TPD) cover usually offers two premium structures:
Rate for Age (RFA)
With a Rate for Age premium, your payments typically go up every year on your policy anniversary. This is because, as you get older, your risk level increases in the eyes of the insurer. RFA premiums might be lower when you’re younger, but expect them to rise over time.
Level
Level premiums stay the same throughout the life of the policy. The amount you pay is based on your age when you first take out the cover. While these premiums can be higher at the start, they won’t rise each year, which can make long-term budgeting easier—especially if you lock them in when you’re younger.
As with other types of insurance, the premium cost is influenced by factors like your age, health, occupation, and the sum insured. If you stop paying your premiums, your cover may end, so it’s important to keep them up to maintain your protection.
Reviewing your Disability Insurance:
Your needs and situation can change over time, so it’s important to review your Total and Permanent Disablement (TPD) cover every now and then. You might buy a house, switch jobs, or start a family—each of these changes can affect how much insurance you need. Insurers also update their products and policies, which might mean more suitable cover becomes available. By checking your policy regularly—every year or two—you can make sure you still have the right level of protection for your current lifestyle and financial goals.
Take a second to look over our frequently asked questions.
Have different questions? Email us at info@insuredforlife.co.nz
How does Insured For Life help me find insurance?
By submitting your details, we match you with a qualified and trusted adviser who can provide expert guidance and a personalised quote.
Who can use our service?
If you are over 18 years of age, you can use our service!
Simply take the quiz and fill out the form here.
Even if you currently have a policy and want a second opinion, our advisers are here to help!
How long does it take?
An adviser will be in touch via your preferred contact method within 24 business hours, unless stated otherwise.
What are the fees?
There are no fees.
We only partner with advisers who offer no charge consultations!
You will only have to pay your schedular premiums to the Insurance Provider, should you decide to implement the recommended plan.
Is it safe?
Our service is 100% safe!
We hold your information submitted through our simple quiz for a maximum of 60 days. This allows us to find the right adviser for you.
After this period the only people who will have access to your personal information is your financial adviser.
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