If you have suffered a serious injury or illness and are no longer able to complete the work that you once did, you may be eligible to claim significant payments through your superannuation, often known as Total and Permanent Disability (TPD) claims.
It is important for injured people to be aware that their superannuation fund could provide monetary benefits, as it is compensation that is often overlooked.
We are a national leader in compensation claims, offering the largest personal injury team in South Australia, as well as experienced lawyers in Perth (WA) and Darwin (NT). Our focused expertise in this area means you can concentrate on your recovery while we manage your claim.
What circumstances are required for a claim?
Under superannuation policies a person may have cover for income protection and also Total and Permanent Disability (TPD). Whilst the definition of TPD in each policy can differ, generally the injured person must be assessed as unlikely to ever be able to return to work. If your injury or illness is preventing you from working then this is an entitlement worth pursuing.
Some people do not even realise that they have this insurance cover and it can be valuable to those who are unable to work but still need to provide for their family, while also trying to fund medical expenses and rehabilitation.
Finding out whether you are eligible to make a claim is not always straight forward which is why it is important to contact a lawyer who will be able to advise you in determining your eligibility.
What will we do if you have a claim?
The lawyer will consider the policy definition and see if your circumstances fit the required criteria. In nearly all cases there are detailed claim forms that need to be completed and the claim will need to be supported by reports or certificates from your doctors. The superannuation insurer may choose to obtain their own medical reports. If your claim fits the criteria we can assist you to begin the process of maximising your claim for your greatest possible benefit.
What are you entitled to claim for?
There are a number of different payments that you may be eligible for through your superannuation claim. The amount of TPD payouts vary but they are usually considerable lump sum payments. Income protection payments through policies of superannuation are usually between 7o and 80 percent of your usual income. The payments generally last for two years or can be paid until retirement age.
When should you seek legal advice?
It is important to seek legal advice as soon as possible following an injury or illness that prevents you from working. The policies and definitions can be complicated and there are also time limits that can apply to these claims that you need to be made aware of.
Importantly, an income protection and TPD claim does not usually reduce other compensation claims that a person may be entitled to. Accordingly, payments made under superannuation funds are usually in addition to any workers compensation or motor vehicle accident claim payments.