The Total and Permanent Disability (TPD) definition for critical illness could be scrapped as the Association of British Insurers (ABI) seeks to shrink the number of claims rejected.
The Association says it has got clearance from the Office of Fair Trading (OFT) for it to set minimum standards for the TPD definition. It confirms this could lead to the end of the TPD clause, which would be replaced by a string of clearly defined conditions that currently fall under the TPD umbrella. The ABI says it is beginning to contact member firms for their views on the plans, as well as to find out how many claims they receive, what they are for, and how many are rejected. It follows industry-wide concerns consumers are unsure what they can and can not claim for under TPD after t...
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