The face of the moon was in shadow
After much advocacy by ClaimRight and others, AIA and Asgard have updated their definitions to be more inclusive. The definition below is a positive leap forward, but we still need to see a broading expansion in line with the WHO definitions.
This is published by Asgard/ AIA
Enhancing Total & Permanent Disablement (TPD) insurance
We’re pleased to confirm that we’ve worked with the insurer to simplify and improve TPD policy terms, by reducing the number of definitions and enhancing existing definitions. These changes aim to improve investor outcomes in the event of a claim. For investors that hold TPD insurance, a summary of the changes include:
Removal of a term applicable to Standard definition TPD, requiring 15+ hours per week employment over 13 weeks prior to the date of disablement.
Replacing the Activities of Daily Living definition with Everyday Working Activities, which includes a mental illness definition to broaden scope from focus on physical activities and better address neurological disability.