TPD Claims Process

Do you have questions about the TPD claims process and what to expect?

In this blog – and video below – we run through some of the typical steps that occur when submitting a TPD claim, and discuss how long you may have to wait for your claim to be completed.

Before we begin though, it’s important to note that every TPD claim is different, every health condition that relates to the Total and Permanent Disability claim is different, and there are countless total permanent disability policies out there.

Watch the video from Precision Wealth’s Glenn Hilber here…

DISCLAIMER – The information provided in this blog is general and does not consider your individual financial needs or objectives. It does not constitute personal advice. We recommend seeking out professional and independent financial, legal and tax advice which has been designed for your individual situation before acting on any information contained below.

Typical Steps in a TPD Claims Process

The steps taken to get a claim approved will depend on your policy and insurer, but typically the following occur during the process.

1. Oftentimes the first step is to get in touch with your super fund or insurance provider and begin filling out the paperwork associated with the claim. 
   
   
2. Read your policy thoroughly to understand approval criteria and check validity.
   
   
3. Then, you’ll need to provide evidence of your disablement or injury.
   
   This normally includes two doctors, a GP and a specialist in the field of the health condition, carrying out an assessment to determine if you are totally and permanently disabled to the extent that you will be unable or unlikely to ever work in your own occupation or any occupation – depending on the definition of your policy – ever again.
   
   The super fund or insurance provider may request their own referral to another medical practitioner and may then carry out an additional assessment.

EXPERT TIP: While many claims are occupational-based (when you’re totally and permanently disabled to the extent that you can’t work in any or your own occupation), while others are impairment-based, which means you are unable to carry out daily activities. For an impairment-based claim, additional medical assessments will be required.

4. Submit all relevant documentation and your application

We also believe that speaking to a Certified Financial Planner ® early on in the process can be beneficial, as they will help you to understand the best ways to make use of the payout. Click here to read more about this.

How Long Does a TPD Claim take to Process?

Generally speaking, you probably won’t see any funds from a TPD payout for at least three to six months since the health event, at best.

In many cases it can take close to twelve months or even longer for a claim to be processed and a payment made – especially if there are disputes associated with your insurance claim and your ability to work in the future.

Personalised Financial Advice for TPD Payouts

Would you like personalised financial advice about your claim and how to make the most of your TPD payout? Or have you’ve got any specific questions about the claims process?

Our Certified Financial Planner ® will be more than happy to help, so please get in touch today.