3 questions you need to ask before you make a superannuation TPD claim
Published 08 Nov 2016
Not being able to work can be a scary proposition and you may be anxious to begin a TPD claims process. However, before you begin there are several questions you can ask yourself or an experienced compensation lawyer to determine if you have a case.
To help, we have compiled a list of 3 must-ask questions about your TPD claims.
1. Do you have insurance cover?
Many Australians are unaware that they have insurance attached to their super fund. Typically, superannuation schemes will have three types of cover for its members. These include:
- Death cover (life insurance): At the time of your passing, this insurance policy will pay either a lump sum or an income stream to beneficiaries.
- Total and permanent disability (TPD) cover: Payments are triggered if you become seriously disabled and are unlikely to work again.
- Income protection: Covers your income if you are unable to work due to a temporary illness or disability.
Knowing you have one or all of these insurance policies is the first step in the claims process.
2. When should I apply?
The obvious answer is when you have to, however there are other requirements that need to be met. Firstly, you need to show that you have been off work for the required period of time. Secondly, you must meet the definition of total and permanently disabled as outlined by your insurance policy.
The best way to understand the definitions set out by the insurer is to read your policy. However, due to the complexity of the wording, the eyes and advice of a compensation lawyer are needed.
3. What if there is a dispute?
While most claims are processed, although not always on time, about 10 per cent of claims are rejected, which can lead to legal disputes. If this does occur, it’s essential to have legal expertise you can rely on.
Whether it’s due to extended and unnecessary timelines or a declined claim, a lawyer can ensure you have everything you need at your disposal. At Gerard Malouf and Partners Compensation, Medical negligence and Will dispute lawyers, we have lawyers experienced making TPD and other super claims.
We understand the pain that a protracted claim can cause you and your family and as such, we handle your TPD claims with compassion. If you would like to know more, talk to a superannuation expert today.