How much TPD cover do I need?
The amount of TPD cover you require depends on your financial situation, current debts, and future expenses. It is essential to ensure the payout can cover costs such as medical treatments, home modifications, or ongoing living expenses if you cannot return to work. Additionally, the cover should support dependants and help pay off existing liabilities like a mortgage or personal loans.
Consider these factors when determining your TPD cover:
- Outstanding debts, including mortgages and personal loans.
- Costs for medical treatments and ongoing care.
- Future living expenses for you and your family.
- Potential home modifications to accommodate your disability.
- Lost income and dependants’ financial support requirements.
