TPD and income protection both respond to serious illness or injury, but they're triggered by completely different circumstances and pay out in entirely different ways. Income protection pays a monthly benefit — typically up to 70% of your pre-tax income — for as long as you remain unable to work, up to your policy's benefit period.
TPD pays a one-off lump sum, but only once your disability is assessed as total and permanent, meaning you're unlikely to ever return to work. Income protection is generally easier to claim because it doesn't require permanence — if you're off work for months recovering, it pays throughout. TPD is designed for the worst-case scenario.
Many Australians hold both without fully understanding how they complement each other. Finsol helps you understand exactly which policy applies to your situation and ensures you're not left with gaps in your financial protection.
