{"id":35784,"date":"2017-01-13T10:00:41","date_gmt":"2017-01-12T23:00:41","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=35784"},"modified":"2025-09-02T11:34:30","modified_gmt":"2025-09-02T01:34:30","slug":"future-of-lump-sum-tpd-under-a-cloud","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2017\/01\/13\/future-of-lump-sum-tpd-under-a-cloud\/","title":{"rendered":"Future of Lump Sum TPD Under a Cloud"},"content":{"rendered":"<p>The viability of lump sum TPD payments from group life insurance is under review with questions raised around the adequacy of the payments and their usefulness to claimants, consultancy group Rice Warner has claimed.<!--more--><\/p>\n<p>The group stated that while lump sum TPD payments provided better taxation treatment than monthly payments the adequacy of a lump sum in replacing income for a claimant who could no longer work was in question alongside the issue of whether customised advice was required to help claimants deal with the lump sum.<\/p>\n<h6>\n&#8220;&#8230;the adequacy of a lump sum in replacing income for a claimant who could no longer work was in question&#8230;&#8221;<\/h6>\n<p>Rice Warner stated the shift to paying TPD instalments, which had only been taken up by a small number of superannuation funds, was one of the responses to the ongoing disruption of the group life market since 2013, which had also begun to tighten TPD definitions and make greater use of rehabilitation and retraining.<\/p>\n<p>According to Rice Warner the move to paying TPD claims in instalments was significant and \u201c\u2026involves a new assessment of the TPD status of the claimant, and in some cases their compliance with medical, retraining and rehabilitation requirements, before each claim instalment is paid\u201d.<\/p>\n<p>\u201cIt is expected that the payment of TPD by instalments will expand and in time will lead a combination of TPD and disability income provisions in some funds.&#8221;<\/p>\n<p>&#8220;The actual insurance provisions and processes will be more tailored to the circumstances of particular membership groups within funds,\u201d Rice Warner stated.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The viability of lump sum TPD payments from group life insurance is under review with questions raised around the adequacy of the payments and their usefulness to claimants, consultancy group Rice Warner has claimed.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8294,3,5622],"tags":[],"class_list":["post-35784","post","type-post","status-publish","format-standard","category-claims","category-general","category-superannuation"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/35784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=35784"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/35784\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=35784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=35784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=35784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}