How much can I get for a total and permanent disability (TPD) claim?
When you’re suffering from a total and permanent disability, an insurance payout can be life changing. The Personal Injury Lawyers’ TPD experts can help you get the compensation you deserve, which could range from $30,000 to $1,500,00.
The following factors influence your payout amount:
- Your age
- The specifics of your injury or illness
- Employment circumstances
- Your pre-injury lifestyle
- Extent of your injuries or illness
- Your lawyer’s TPD compensation knowledge and experience
When can I make a total and permanent disability claim?
If you have suffered an injury or illness that prevents you from earning a living, then you may be able to make a permanent impairment compensation claim for a TPD payout. Regardless of whether you sustained your injury inside or outside of the work environment, if it has impeded your ability to work, then you will be eligible to make a claim.
TPD lump sum payments are designed to support someone financially when they are unable to work. This includes funding their rehabilitation and supporting their family when they otherwise cannot. Typically, a TPD insurance claim is made through your insurer or superannuation fund. It is common for many Australians to be unaware that they are able to access TPD payouts, however, they are a vital support mechanism if you can no longer sustain a source of income.
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What do I need for a successful total and permanent disablement claim?
The size of the lump sum payment you receive from a successful workplace injury claim is determined by a range of factors. The process will take into account how your injuries or illness align with the definition of TPD, your medical bills, rehabilitation costs and any other form of expense incurred from your injury. The investigating insurance provider or superannuation fund will look at factors like:
- The level of TPD insurance cover you possess
- The rules and regulations surrounding your superannuation fund or insurance provider
- The current balance of your superannuation account
- How long you have been with your current superannuation provider
- The impact your illness or injury has had on your ability to work
- The number of out-of-pocket expenses you’ve had to cover
- The ongoing health issues as a result of your injury or illness
- Your health record
- Any reduction in your life expectancy
- Whether your TPD cover is included as part of your life insurance policy
- How much income you have lost since your injury
- The cost of treatment and rehabilitation
Without accurately assessing your TPD insurance claim first, it is hard to truly estimate what kind of lump sum offer you should accept. Use our TPD payout calculator to get started and contact The Personal Injury Lawyers today.
Do I have to pay tax on a TPD superannuation benefit?
Successful TPD claims are usually paid directly into your super fund, which is not considered taxable income. That means you will not be required to pay tax on the lump sum compensation as long as that money stays in the superannuation account until you reach 60 years of age. However, if you withdraw part or all of your TPD payout as a lump sum then you may need to pay a superannuation lump sum withdrawal tax.
Tax calculations on personal injury claims paid through superannuation are complex and paid at different rates depending on your individual circumstances. If you have multiple super funds, each fund may also have a different calculation. Your specialist TPD lawyer can help explain the tax implications of your TPD payout.
Tax calculations on TPD insurance claims paid through superannuation are complex and paid at different rates depending on your individual circumstances. If you have multiple super funds, each fund may also have a different calculation. Your specialist TPD lawyer can help explain the tax implications of your TPD payout.
With The Personal Injury Lawyers, your TPD insurance claim is in great hands
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What are the most common TPD claims?
There is a range of different physical and psychological injuries and illnesses that can cause a total and permanent disability. Common cases that often result in a TPD compensation claim include:
Not only can cancer debilitate someone’s ability to work, it also affects every aspect of day-to-day life. From terminal cancer to ongoing cancer, the treatment of the disease and the disease itself, this condition can make it impossible to fulfil your regular duties in your current occupation or any type of work. Cancer-related TPD claims are common, so speak with one of our expert TPD lawyers today and get started with your permanent disability TPD claim.
Heart attacks or heart disease often weaken the body until someone is unable to continue working. A person experiencing a heart-related health issue may struggle with self-care tasks and find themselves confined to their bed.
Having a stroke can result in the permanent inability to use your arms and legs while you may also lose your ability to speak. These types of disabilities can drastically reduce a person’s ability to complete their daily duties at work and often a stroke will render someone totally and permanently disabled.
Loss of senses
Losing your ability to see or hear is a common TPD claim. This can occur from a stroke, cancer or an accident in the workplace or a car accident. With the loss of your sight or hearing, you may not be able to complete your duties in the workplace, travel to work safely, or live independently.
Loss of a limb
Losing one or several limbs can cause terrible suffering and debilitate someone’s ability to live and work. As a common TPD payout claim, losing a limb may seriously impact your capacity to operate machinery, office equipment or even take care of yourself and your family.
Terminal infectious diseases, as well as other ongoing infections, are a common cause for TPD claims. This can include many different illnesses, such as HIV/AIDS, tuberculosis or malaria, which are debilitating to the point where you can longer work.
Use our TPD calculator to get your TPD claim started or, if you are seeking legal advice, contact us today and work with the experts in TPD compensation law.