Permanent disability Total and permanent disability (TPD) insurance

 

Permanent disability;

Permanent disability 

        Permanent disability is understood to mean anatomical losses or functional effects that cause irreversible physical consequences in the insured. 

           If as a consequence of an accident, the insured person has a permanent disability, it is covered by the policy, so the insurer pays the beneficiaries the benefit generally an agreed capital.

           Normally, the so-called objective permanent disability is ensured, which is not related to the possibility or not of continuing with the usual work. In the event that the risk of professional disability is covered, then this is determined by the incapacity of the insured for their usual work. However, professional disability is generally contracted on the basis of scales specifically applicable to the profession of the insured.

           A distinction is made between total and partial permanent disability.

                                         

 Total permanent disability;

                                        It is generally defined as the physical or functional loss of either arm, or both legs, or both hands or feet, or upper and lower limbs, or absolute mental derangement or loss of vision in both eyes.

             Total permanent disability normally results in a benefit equal to one hundred percent of the capital insured in the policy, or the amount that is established for these cases.

                                                 

   Partial permanent disability;

                                                        If partial permanent disabilities resulting from the accident, then the insurer only pays a certain percentage of the capital insured.

             Normally, companies establish a scale of invalidity partial (such as the loss of a limb or other organs), depending on which the benefit is reduced to a percentage of the insured capital planned for total disability.

             Along with the general scale, specific scales can be established according to the profession of the insured, such as for medical professionals, artists, etc.

                                             

            Likewise, the entities offer disability scales that can offer higher compensation for the case of the most serious disabilities, so that a scale of progressive growth is established for situations that require external help, after the accident, for the development of life.