Superannuation and TPD claims
Superannuation and TPD claims
If, as a result of an illness or injury you have ceased all work and held an active superannuation account or other personal disability policy at that date, you may be covered for life insurance benefits including Total and Permanent Disability, Income Protection/Salary Continuance, and Death Cover.
You may also be entitled to make a claim for the early release of your superannuation account balance in circumstances where you are temporarily or permanently disabled from working in your usual occupation or any other occupation you are reasonably suited by education, training or experience.
ARE YOU ELIGIBLE
TO MAKE A CLAIM?
To be eligible to make a TPD claim, you generally need to be under 65 years of age at the date you ceased working on account of a medical condition and must have held either an active superannuation account with insurance cover in place, or another personal disability insurance policy.
Generally, it does not matter if contributions had not been made into your superannuation account for a long time or even if you closed your account after you stopped work. We are able to make investigations on your behalf including the identification of any superannuation accounts that may have been contributed to by you and/or your employer and determining from same whether or not you were covered for insurance benefits under any of your superannuation accounts as at the relevant time.
WHAT ARE YOU
ABLE TO CLAIM?
Depending upon the cover available at the date you ceased all work, you may be entitled to a one-off lump sum payment or monthly benefits for a specified period in the event of disability. The amount of the lump sum or monthly benefit will vary depending on the insurance policy.
WHEN SHOULD YOU CONSULT A LAWYER ABOUT MAKING A CLAIM?
We would recommend that you seek legal advice when you have been off work for at least three to six consecutive months for a TPD claim. In the event you have been off work for longer than this period then you should contact Brydens Lawyers as soon as possible.
WHAT IS YOUR
If you have suffered an injury or have been diagnosed with an illness which caused you to cease working, it is important that you seek appropriate medical treatment as soon as possible and continue to receive treatment as recommended by your healthcare professionals.
Where you have been off work for at least three months due to an illness or injury, you should check your records for any superannuation statements or personal disability policy documents, and contact Brydens Lawyers for a free consultation.
WHY ARE BRYDEN’S LAWYERS THE RIGHT REPRESENTATION FOR YOU?
We are experts in the area of superannuation and disability insurance claims and provide incisive legal advice to our clients throughout the course of a claim. We have extensive experience in managing disability insurance claims from those arising out of default insurance arrangements with a superannuation fund to more complex arrangements relating to individual contracts of insurance cover.
At Brydens Lawyers, we lodge all superannuation and disability insurance claims with detailed and lengthy submissions often containing citations from legal judgements or authority in the area of life insurance, meaning our claims are frequently resolved without the need to go to court.
We also assist by simplifying the claims process for our clients, meaning we look after an insurance claim with a super fund or insurer from start to finish, which includes making the initial investigations, reviewing applicable policy document(s), providing advice on the insurance policy definition(s), liaising with doctors and other third parties to obtain relevant evidence, and communicating with the superannuation fund/insurer throughout the duration of the claim process.
Brydens Lawyers can also help you locate accounts where the superannuation funds have lost contact with you to maximise the amount of insurance benefits available to you.
WE DO SUPERANNUATION AND DISABILITY CLAIMS WELL. HERE ARE SOME EXAMPLES:
- We have assisted clients successfully claim Total and Permanent Disability insured benefits in excess of $1Million through superannuation and retail insurance policies.
- We advise on complex legal and non-legal issues in connection with policy definitions, terms and conditions and insurance cover associated with a superannuation or other disability insurance policy.
- We have successfully challenged insurers’ declinatures of TPD claims by way of written submissions and court proceedings.
- We have extensive knowledge of current legal judgements in the area of superannuation and disability claim disputes, superannuation and insurance law and the Life Insurance Code of Practice.
- We handle policy disputes and issues ranging from contractual eligibility issues, evidentiary issues concerning policy requirements and declined TPD claims.
- We have been involved in numerous disputes concerning insurer allegations of non-disclosure and misrepresentation in connection with applications for insurance cover made directly with an insurer.
LATEST NEWS FROM LEE
An article published by insurancenews.com.au on 22 November 2019 references a reported $876 million net loss by NSW State owned Icare for its workers compensation Nominal Insurer scheme last financial year amid rising medical costs and falling bond yields.
It is reported that gross premiums were in the order of $2.5 billion while net claims expenses/scheme costs were just over $4 billion. That is, there was a reported underwriting loss of almost $2.4 billion while Icare received a net investment revenue of just over $1.6 billion.
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