We know the process of seeking a Total and Permanent Disability (TPD) claim can be incredibly intimidating, at Life Matters Claims our goal is to help alleviate some of the stress that comes with sustaining a life-changing injury or illness. One of the questions we commonly get asked is whether you can still work following a TPD payout. Unfortunately like most things in the complex world of insurance, there is no simple yes or no answer. It will always depend on the individual claim. In this article, we will explore the issue of employment following a TPD payout to help you better understand your options.
What is the relevance of education, training, skills and experience in a TPD Claim?
In most cases, TPD insurance entitles you to a lump sum if you are unable to work within your previous skillset. While you may still be able to work in some capacity this does not necessarily mean you are excluded from making a TPD claim. Your eligibility is based on your previous education, skills and experience and whether your illness or injury will prevent you from getting employed using these skills.
For example, if you have been in training to be a nurse and an injury or illness prevents you from practising these skills, you may be eligible for a TPD payout. However if you had previous training in retail, which you are still capable of doing, you may not be able to make a successful TPD claim. According to Life Matters Claim’s CEO Kate, these exceptions usually only go back 10 – 15 years. In this example, if you had been working as a nurse for 15 years, your previous experience most likely won’t be included.
If I retrain and return to work will I have to return my payment?
While it is not an option for everyone, at Life Matters Claims we have had clients who have chosen to retrain in different fields after an illness or injury has prevented them from continuing to work in their chosen field. If choose to retrain following a TPD payment, good for you! This does not mean you have to return your payment.
In most cases, if the only way you could conceivably work again would be to retrain, you would be eligible for a TPD payout. However, this depends on the claim. Changes to definitions have made it more difficult in certain cases, to make a successful TPD Claim when it is decided that there is a reasonable chance of you retraining and returning to work. The insurer may be able to decline your TPD payout on these grounds. This will all depend on your individual insurer and claim.
If my condition improves do I have to return my TPD payment?
There are cases where someone awarded a TPD payout, is later able to achieve more than what was expected of them due to advances in medicine or technology.
When it comes to assessing your insurance claim, a decision will be made based on your current position. If it is determined at the time that your injury or illness will prevent you from working and you are awarded a TPD payment you will not be expected to return this payment if your condition improves.
While we hope this article provided answers to some of your questions, we know that dealing with an insurance company can be extremely complex and overwhelming. If you need help navigating a Total and Permanent Disability Claim Life Matters is here to help, so you can concentrate on what really matters.