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ARTICLE · 28 SEPTEMBER 2022

Insurance options inside superannuation

Hall Payne Lawyers
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Insurance cover through super is still usually the most economical way to cover yourself in the event of injury & illness.

AustraliaInsurance
Leanne Taylor
Leanne Taylor
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The vast majority of Australian workers have a superannuation account. The primary purpose is to save for life after retirement. But most super funds also provide insurance options for the worker. These include total and permanent disablement cover (TPD), income protection (also called salary continuance) and death benefits.

While the rules around insurance cover through super have undergone significant change over recent years, it is still the most economical way to cover yourself in the event of injury and illness for most Australians.

What is TPD insurance?

TPD stands for Total and Permanent Disablement. The most common type of TPD insurance generally covers you when you have an injury or illness which has prevented you from working and which (based on medical evidence) will continue to prevent you from returning to any form of work for which you are suited taking into account your education, training and experience. This is known as "any occupation" cover.

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