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Total permanent disability insurance

It's easy to take good health for granted. But the reality is, you could become permanently unable to work due to an illness, accident or injury. ASB total permanent disability (TPD) insurance helps to ensure that your lifestyle and family's future will be protected if you become totally and permanently disabled and unable to work as a result.

What's included Make a claim

Key benefits of ASB Total Permanent Disability Insurance

  • ASB Total Permanent Disability Insurance is paid out if you become totally permanently disabled and cannot work. It's a lump sum payment that can help cover costs such as medical treatments or employing a caregiver.

  • Access up to $15,000 to help modify your home or vehicle or buy specialist medical equipment to help adjust to your new circumstances.

  • Under certain circumstances (such as loss of sight in an eye) you may be eligible to lesser of 25% of the sum assured or $100,000 under the Partial Permanent Disablement Benefit.

Get rewards and discounts for health and wellbeing choices with AIA Vitality and ASB Insurance

When you take out an eligible insurance policy with ASB you can join AIA Vitality - the science backed health and wellbeing programme that rewards your healthy choices.

  • Earn an Apple Watch Series 9 GPS, 41mm (RRP $749) in full by reaching your weekly Physical Activity targets for 24 months.*
  • Join Les Mills for free and save up to 50% on a membership (discount + cashback) & enjoy discounts from other leading brands.
  • When you join AIA Vitality you receive an initial 10% premium discount on your eligible insurance policies.

Already have life and income insurance with us? Call us on 0800 200 252 to join AIA Vitality.

*AIA Vitality is available with eligible ASB Insurance policies and has a monthly membership fee of $11.50 (including GST). Apple Watch Series 9 requires iPhone Xs or later with iOS 17 or later.

Why ASB?

Partnership with AIA

Harnessing the global expertise of AIA - our underwriter, to help you get comprehensive protection sorted.

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Personalised advice

Our team of local ASB insurance advisers help review your needs, tailoring a solution with you.

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Multi-benefit discount

Save up to 15% off your premiums when you take out multiple eligible policies.

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What's included?

Total Permanent Disablement Benefit pays a lump sum if you become permanently disabled and are unable to work as a result of accident or illness. There are two types available with this insurance.

Own Occupation

This option pays a lump sum if it becomes unlikely that you'll ever be able to work in the specific occupation you were involved in immediately prior to incapacitation.

Any Occupation

This option pays a lump sum if you become so incapacitated that it's unlikely you'll ever be able to work, in any occupation for which you are reasonably suited by education, training or experience, and which would pay remuneration greater than 25% of your pre-disability earnings during your last 12 months of work.

Assistance Benefit

Up to $15,000 may be reimbursed to cover costs of purchasing specialist equipment, completing home alterations or vehicle modifications which are necessary following a TPD benefit being paid.

Partial Permanent Disablement Benefit

This benefit is payable under certain circumstances (loss of sight in one eye, or loss of use of one hand or one foot); and will provide you with a lump sum payment of the lesser of 25% of your sum assured or $100,000.

Waiver of Total Permanent Disablement Waiting Period

AIA will, at its sole discretion, waive the three-month waiting period if an immediate medical assessment confirms total permanent disablement, and all other claim requirements have been met.

Total Permanent Disablement Future Insurability Benefit

You can apply to increase your Total Permanent Disablement insurance sum assured at every third policy anniversary without providing any further medical information. Limits and conditions apply, and every increase in disability cover will require an increase in premiums.

Special Events Increase Facility

Enables you to increase the sum assured under your cover, without further medical underwriting following a significant event in your life which results in increasing financial responsibilities. These significant events include getting married, having a child, your child starting secondary school, taking out or increasing a residential home loan or receiving a salary increase and other major events.

Premium Conversion Facility

Before reaching the age of 65 years, you have the option to convert all or part of your sum assured to a level premium structure without further medical underwriting.

Counselling Benefit

We will pay up to $2,500 (incl. GST) to cover the cost of a Psychiatrist or Psychologist consultation and counselling for you and/or your family where the treatment directly relates to a claim.

Suspension of Cover Benefit

The flexibility to suspend your cover for up to 12 months, without medical evidence if you meet the following conditions: take parental leave, take leave without pay for any reason, get made redundant, become unemployed, experience at least a 20% reduction in pay (comparing the most recent payslip against a previous payslip from the same year) or are self-employed and experience a 30% reduction in revenue (by comparing one month's revenue against the same month for the previous year). No benefits will be payable for any claim event which occurs during this suspension period.

Get started today

Talk to one of our advisers who can help you put together a life insurance plan that will best suit you and your situation.

Get in touch through our online enquiry form and we'll call you back at a time that suits you.

Enquire now

Call us on 0800 200 252 between 8:00am - 5:00pm Monday to Friday.

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Our qualified insurance advisers will help you mix and match the best insurance options to suit your needs

As a trusted life and income insurance provider, we have a team of qualified insurance advisers who can provide you with guidance and advice that's specific to your needs.

Having this guidance means ASB's Lifestyle Security Plan will be tailored to your situation, with a combination of solutions to get the life insurance cover you and your loved ones need.

Life insurance

Life insurance protects your loved ones' future by providing them with a lump sum or monthly payment if you pass away. Making sure they can invest in your children's education, put food on the table and pay the bills.

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Income protection

If you can't work due to sickness or injury, you could still have a monthly payment coming in, so you can continue with your life even though you're not earning.

You can also get optional cover for redundancy.

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Trauma cover

Our critical conditions benefit can help ease the burden on your family at a difficult time. If you suffer from one of the specified conditions defined within the policy, you can access a lump-sum payment to use however you need.

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Total permanent disability

If you become seriously ill or injured and are unable to work again, total permanent disability insurance can help take the financial pressure off by providing a lump sum payment to ensure you and your family are taken care of.

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Health insurance

Health insurance covers you for a range of situations to help you easily manage unexpected medical bills. Medical conditions can be treated promptly, at a convenient time and location, and with your choice of medical provider.

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Get a tailored quote for your needs.

The availability of insurance cover is subject to your application being approved. All applications are subject to individual consideration. Special conditions, exclusions or premiums loadings may apply. An excess may apply for health insurance policies. For full details refer to the policy document which is available on request from ASB Bank Limited. This insurance is underwritten by AIA New Zealand Limited ("AIA").