An even deeper dive into own occupation TPD 💡

In this Deep Dive, Phil sat down with Natalia King to unpack one of the most technical, and important parts of insurance: how own occupation TPD works, and why it can make such a difference come claim time.

Key takeaways:

✅ Own vs any occupation: Own occupation means you’re covered if you can’t work in your specific job. Any occupation means the insurer can assess whether you can do any job you’re qualified for.

✅ Every insurer defines it differently: Some look at the job you had when you applied. Others assess your most recent job before you stopped working, and some even revert to home duties if you’ve been off work for too long.

✅ Why timing matters: You generally need to be off work for at least three continuous months before you can claim, but some insurers make exceptions for severe conditions or early diagnoses.

✅ The value of advice: Own occupation TPD can’t be set up inside super, which means you’ll only access it through a financial adviser or a direct insurer. It’s more specific, more flexible, and often more tax-efficient at claim time.

💡 The takeaway: definitions matter. The right structure and advice can be the difference between a claim being declined or $1.6 million landing in your bank account.

#skyedeepdive #insuranceadvice #financialwellbeing #tpdinsurance #riskmanagement