Insurance

Essentials

• When disability changes life forever

If you’re seriously ill or injured, the last thing you need is financial stress. Westpac Total and Permanent Disablement Insurance pays a benefit if the Insured Person becomes totally and permanently disabled. It may assist with medical and rehabilitation costs and provide them and their family with financial security. 

• All policies qualify for loyalty benefits with discounts available for non-smokers
• Provided that your premiums are paid, you can automatically renew cover annually, to age 99, regardless of changes to health, occupation and pastimes  
• Your cover can be taken within superannuation, if taken in conjunction with Term Life Insurance, which could be tax effective if you are eligible for concessions on your superannuation contributions
• We offer automatic indexation on your benefits each year in line with the CPI. Where the CPI is less than 3%, an indexation increase of 3% will apply.
• You will qualify for a multi-policy discount of 5% on the Insured Person’s premiums if the Insured Person is covered by more than one policy in the suite of insurance options offered by Westpac Protection Plans
• Worldwide cover, 24/7.

For an additional cost, you also have the option to include: 

• Needlestick Benefit: provides a one-off lump sum payment if you contract HIV, Hepatitis B or C while performing your duties as a medical professional  
• Children’s Benefit: provides a one-off lump sum payment if your child suffers from one of a range of specified medical events.

Support

Background

While out celebrating a case win with his legal team, Doug* started to feel dizzy and was having trouble speaking. He put it down to having a few beers on an empty stomach, but caught a cab home early. His symptoms got worse before he collapsed. Pat, Doug’s wife, called an ambulance which took him to hospital where he was found to have suffered a stroke.

Illness

His stroke affected the left side of his brain which caused problems on the right side of his body and communication. He had trouble speaking, understanding, reading and writing, which meant he was no longer able to practice as a barrister.

His TPD Benefits allowed Doug to access the best possible medical treatment and later, rehabilitation services. Pat was able to stop work to become Doug’s primary carer.

How Westpac Total and Permanent Disability Insurance helped Doug

Part of the lump sum TPD Benefit was used to pay off the remaining mortgage on their city house, and the balance was invested to generate returns to replace the income Doug had hoped to earn before they retired. The protection offered by their insurance allowed them to keep their country cottage dream alive.

Westpac Financial Planners are ready to help you

Talk to a Westpac Financial Planner ¹– they can help you customise a Westpac Protection Plans policy to give you and your family peace of mind.