Document ID: chunk:federal_register_of_legislation:F2024C01248:reg:6:p1
Version: federal_register_of_legislation:F2024C01248
Segment Type: reg
Provision Reference: reg 6 (pt 1/21)
Character Range: 126619–129514

6                               TPD own occupation bundled with death (life) cover with one or more of the following inclusions:  80
                                (a) activities of daily living;
                                (b) cognitive loss;
                                (c) loss of limb;
                                (d) domestic (home) duties

 (2) A proportion specified in the table in subsection (1) may be treated as referred to in subsection (1) only if the conditions to which the insurance policy that relates to the proportion is subject are either more restrictive than or have substantially the same meaning as the conditions described in the definition of the policy in subsection (5).
 (3) However, if a member is required to meet a criterion to be eligible for a benefit under an insurance policy in addition to the criteria that are essential to the matters identified in the definition of the policy in subsection (5), the additional criterion may be disregarded.
 (4) The use of a specified proportion in the table in subsection (1) in respect of a particular insurance policy is not affected by the inclusion in the insurance policy of a benefit payable to a member because a terminal medical condition exists in relation to the member.
Note: For terminal medical condition, see section 995‑1 of the Act and section 995‑1.06 of this instrument.
 (5) In this instrument:
activities of daily living means a component of a disability insurance policy that insures against a disability that results in a member's total and permanent inability to perform at least 2 of the following activities without the assistance of another person:
 (a) bathing and showering;
 (b) dressing and undressing;
 (c) eating and drinking;
 (d) mobility, to the extent of being able to get in and out of bed or a chair, and move from place to place without using a wheelchair;
 (e) the ability to use a toilet.
bundled means a situation in which:
 (a) the TPD and death (life) components of the combined insurance premium are not separately identified; and
 (b) the amount payable to the insured person in relation to the TPD component does not exceed the amount payable in relation to the insured person in relation to the death (life) component.
cognitive loss means a component of a disability insurance policy that insures against a member suffering a permanent deterioration or loss of cognitive functioning or intellectual capacity that requires the person to be under the continuous care and supervision of another person.
death (life) cover means insurance against the liability to provide a superannuation death benefit.
Note: For superannuation death benefit, see subsection 995‑1(1) of the Act.
domestic (home) duties means a component of a disability insurance policy that insures against a disability that results in a member being:
 (a) unable to perform the member's normal