Published 03 Feb 2015
If you experience a serious injury or illness, it could result in a total and permanent disability (TPD) that prevents you from returning to the workplace.
TPDs are often extremely debilitating, making day-to-day tasks difficult to carry out with the same efficiency and skill that you may previously have been able to achieve.
Not only does this have an impact on your quality of life, it is likely to cause significant emotional and financial strain for you and your family. This is particularly true if you are the primary earner of the household.
However, there are many insurance and superannuation policies that contain clauses to provide cover for both partial and total permanent disabilities. A successful claim could provide essential support during a tough period through a lump sum payment and early release of your superannuation.
What do I need to do?
While each policy is different, there are usually a number of criteria that you must meet before a TPD payment is released. First, you must make sure you were covered by the policy at the time you became permanently disabled.
Proving you have a valid TPD claim will require confirmation from a medical practitioner, who must supply documentation supporting a permanent disability diagnosis.
Unfortunately, not all claims are approved and insurance companies may decline your application in circumstances where you feel you meet the criteria stipulated in the contract.
Claimants can also experience a significant delay in receiving a decision, which can be frustrating for people who have lost their main income source due to their injury or illness.
What should I do next?
Due to the length and complexity of some cases, seeking the services of an experienced compensation lawyer in NSW is often recommended.
In fact, contacting a legal firm as early on in the process as possible can considerably speed up the proceedings, helping you to secure a lump sum payment soon after you are diagnosed unable to work.
Seasoned superannuation lawyers can argue your case in the courts, so that insurance companies do not unfairly reject your case, leaving you without financial support at a crucial time.
Gerard Malouf & Partners has a 98 per cent success rate in superannuation claims, and we offer our services on a no-win, no-fees basis to ensure you don't have to worry about legal expenses until a decision goes in your favour.