TPD Cover + Optional Extras 

MetLife Protect Insurance Range

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April 2023

Peace of mind protection for yourself and your future if you become Totally and Permanently Disabled. 

How it can help

TPD Cover is designed to lighten the financial burden that can accompany suffering a serious Illness or Injury that prevents you from working again. The lump sum amount you receive can help pay off debts, make modifications to your home and seek out the best possible medical treatment.

Key Features and Benefits

TPD Cover – Any Occupation Benefit
If you are permanently unable to work in any occupation due to an Injury or Illness, we’ll pay 100% of your TPD Cover Amount
TPD Cover – Limited Earnings Benefit
This benefit can enable payment of 100% of your TPD Cover Amount as a result of suffering permanent disability, in circumstances where you would otherwise not qualify for payment under TPD Cover - Any Occupation Benefit (due to still having a limited capacity to work). It is payable where your earnings are unlikely to ever exceed 25% of your pre-disability earnings.
TPD Cover – Home Duties Benefit
If you have a permanent inability to do all of the Home Duties without another person’s help, we’ll pay 100% of your TPD Cover Amount.
TPD Cover – General Disability Benefit
If you are permanently unable to do two or more of the Activities of Daily Living without another person’s help and you’re unlikely to ever be able to work again, we’ll pay 100% of your TPD Cover Amount.
Loss of Use of Limbs and/or Sight Benefit
If you suffer the permanent loss of use of two or more limbs, or permanent loss of sight in both eyes, or a combination of permanent loss of use of one limb and permanent loss of sight in one eye, we’ll pay 100% of your TPD Cover Amount.
TPD Cover – Physical Disability Benefit
If you suffer the permanent loss of use of one limb, or permanent loss of sight in one eye, we’ll pay 25% of your TPD Cover Amount (capped at $500,000). That will leave 75% of your TPD Cover Amount remaining.
Life Events Increases Feature
If your salary increases by $10,000 or more in a year, you get married, have a child or adopt a child, or complete your undergraduate degree, you can ask us to increase your TPD Cover and any Linked Life Cover by up to $200,000 without any further underwriting or medical checks. Additionally, if you take out or increase a Business loan, or your share of your Business increases in value, you can ask us to increase your TPD Cover Amount and any Linked Life Cover amount by up to 50% (capped at $500,000) without any further medical underwriting. Your premium will be increased to reflect the new cover amount. You have nine different personal life events and three different Business events under which you can request to increase your TPD Cover and any Linked Life Cover under the Life Events Increases Feature.
Indexation
On each Policy Anniversary, we’ll automatically increase your cover amount to help your cover keep up with inflation, unless you ask us not to (or choose a 5-year or 10-year Fixed Term Option, where Indexation is not available).
Life Events Extras Feature
This feature allows you the flexibility to add additional Extra Cost Options to your TPD Policy when certain life events occur (and at a time when more cover may be most relevant to you), without requiring medical underwriting.
Financial advice after claim
If we pay you a benefit under TPD Cover on a Policy outside superannuation, we’ll cover up to $5,000 for the fees associated with the preparation of a financial plan by a Financial Adviser.
Cover to age 75
Full TPD Cover is available to age 65. From age 65 to age 75, the TPD Cover – General Disability Benefit will apply unless you continue to work 20 or more hours per week. In this case, the TPD Cover - Any Occupation Benefit definition will apply. However, you may also be eligible for the TPD – Any Occupation Benefit if you were working at least 20 hours a week on average in the six months prior to disablement..
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TPD Cover – definitions 

There are a number of definitions which may be used to assess whether you are considered Totally and Permanently Disabled, and therefore entitled to receive a benefit.

Each definition has been set out as a benefit under the Policy (however, you will only be entitled to payment under one of these benefits).  

TPD definitions available under Standard TPD Cover are:

  • TPD Cover - Any Occupation Benefit
  • TPD Cover - Limited Earnings Benefit
  • TPD Cover - Home Duties Benefit
  • TPD Cover - General Disability Benefit
  • TPD Cover - Loss of Use of Limbs and/or Sight Benefit
  • TPD Cover - Physical Disability Benefit.

Adding Extra Cost Options to your Standard TPD Cover may give you access to a broader range of TPD definitions in addition to the above. 

TPD Extra Cost Options

You can tailor your TPD Cover with these optional Extra Cost Options, if they are relevant to you:

TPD Extra Cost Options
Life Cover Purchase Option (Standalone TPD)
You will automatically receive Life Cover 12 months following a full standalone TPD Cover claim. This option expires + when you turn age 65.
Life Cover Buy Back Option (TPD)
Allows you to restore your Linked Life Cover 14 days following a full or partial TPD Cover claim. An Accidental Injury definition applies to your Life Cover for those 14 days, which is automatically removed, fully restoring your Life Cover. This option expires when you turn 75.
Double Benefit Option (TPD)
Allows you to restore your Linked Life Cover 14 days following a full TPD Cover claim and waives the premium on the restored Life Cover until you turn 65. An Accidental Injury definition applies to your Life Cover for those 14 days, which is automatically removed, fully restoring your Life Cover.
Premium Waiver Disability Option
Premiums for your TPD Cover and/or any Extra Cost Options are waived when you become Totally Disabled. This + option expires when you turn 65.
Own Occupation Option
Designed to give eligible business owners and full-time employees access to an additional definition to assess their disability with the Own Occupation Benefit. This option expires when you turn 65.
Own Business Option
Designed to give eligible business owners access to an additional definition to assess their disability with the Own + Business Benefit. This option expires when you turn 65.
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What you need to know about TPD Extra Cost Options

  • Adding Extra Cost Options to your TPD Cover will increase your premium. 
  • Superannuation law doesn’t allow the Own Occupation Option and Own Business Option to be held inside superannuation.
  • However, if your TPD Cover is inside superannuation, you can have the Own Occupation Option or Own Business Option outside superannuation, with a self-owned Policy. In this case, we will always first assess your eligibility to claim under the Policy inside superannuation, before considering your eligibility to claim under the Own Occupation Option or Own Business Option.
  • Eligibility criteria may apply. Please refer to the MetLife Protect and MetLife Protect Super Combined Product Disclosure Statement and Policy Terms (PDS) for full details.
Making a Claim
We’ll tell you what information we need

When we are contacted regarding a claim, we’ll identify and request all the information we need up-front, to make a decision. We’ll only ask for, and rely on, information and
assessments that are relevant to your claim and will explain why we’re requesting them. 

We assess your claim

We’ll review all of the information provided and make a decision on whether your claim can be paid based on the TPD definition (and TPD Extra Cost Options where relevant) that applies to your Policy. We aim to pay every genuine claim we receive, quickly and with compassion and care.

We calculate the payment

If your claim is successful, you’ll receive your TPD Cover benefit as a one-off lump sum.

Claims Process

This page provides a summary only. For full details of the product including information on making a claim, please refer to the MetLife Protect and MetLife Protect Super Combined Product Disclosure Statement and Policy Terms (PDS).