With a Simple Life policy, you can buy between $100,000 and $500,000 of TPD Cover, in $25,000 increments. For example, you can buy $325,000 worth of TPD Cover, but you can’t buy $320,000 worth. The cover amount you choose is known as your TPD Cover benefit and is confirmed on your policy schedule. This lump sum benefit will only be paid once.
Definition of permanently disabled
Permanently disabled means a medical practitioner has certified you meet one of the following criteria:
This is when illness or injury results in the complete and irrecoverable loss of the use of:
Two or more of the following:
- A hand
- A foot
- Loss of sight in an eye
- Loss of hearing in both ears
This may include quadriplegia, paraplegia, diplegia and hemiplegia.
This is when illness and injury means you’re permanently and irreversibly unlikely to ever perform any two of the following activities without help:
- Feeding – getting food and drink to your mouth
- Mobility – getting in and out of bed or a chair
- Washing – bathing or showering
- Dressing – getting dressed or undressed
- Continence – having good control of bowel and bladder function
This is when illness or injury results in a state of physical incapacity, resulting in:
- You being unlikely to work in any capacity for at least six months, and;
- You being unlikely to ever perform any occupation you’re reasonably qualified for. This decision will be made by us based on a range of evidence, including medical evidence
This is when illness or injury leaves you in a state of physical incapacity, resulting in:
- You being unlikely to perform home duties for a least six consecutive months, and;
- You being unlikely to perform home duties ever again. This decision will be made by us based on a range of evidence, including medical evidence.
It’s important you’re aware of the situations where a TPD benefit won’t be paid. This is where permanent disablement results directly or indirectly from any of the following:
- A pre-existing condition
- Suicide, attempted suicide or self-inflicted injury, whether you’re sane or not
- As a result of war, whether it has been declared or not
- Participation in an illegal activity
- Working in hazardous conditions
- If you’ve been living outside of Australia for more than 12 months in a row
We’ve built a simple calculator to help you find out how much life cover you might need.
If you already know how much life insurance cover you need, you can get a quote and apply online for Simple Life now.
Things you should know
As this information has been prepared without considering your personal objectives, financial situation or needs, you should, before acting on it, consider its appropriateness to your circumstances. This information is provided by CMLA and where we refer to ‘we’ and ‘our’, we mean CMLA.
Please refer to the Simple Life Product Disclosure Statement (PDS) and the Simple Life Medical Definitions Reference Guide for full benefit details, terms, conditions and exclusions. A Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for Simple Life are available online or by calling 13 39 82 between 8am and 8pm (AEST) Monday to Friday. If you call this telephone number, you may be speaking with customer service representatives from Aegon Insights Australia Pty Limited (“Aegon”) ABN 35 082 524 785 AFSL 236657. Aegon is authorised to issue Simple Life on behalf of CommInsure.
The issuer and insurer for Simple Life is The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA). CMLA is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945. CommInsure is a registered business name of CMLA.
The Commonwealth Bank of Australia does not guarantee the obligations or performance of CommInsure or Aegon or the products they offer.