If you have been forced to stop work as a result of an injury or medical condition you may be entitled to make a claim under your superannuation policy.
Total and permanent disablement cover is entirely separate and distinct from your superannuation account balance, which has accumulated over the years and been contributed to by your employer. These policies are designed to alleviate financial pressures, through the payment of a lump sum, in the event that you are no longer able to work.
The definition of total and permanent disablement will be set out in the fund’s trust deed, although this may be varied by the terms and definitions contained in your insurance policy. Under the most common definition, in order to be successful in your claim, you must satisfy the following:
- have been incapacitated for work due to an injury or illness for at least six months; and
- the fund and/or trustee must be satisfied that you are permanently unfit for any occupation for which you could reasonably be expected to perform in view of your education, training or experience.
Some variations of this definition may also require permanent incapacity for any gainful employment or any occupation that you could be retrained to perform.
In our experience people are often unaware of their rights when it comes to making a claim for disability benefits attached to their superannuation policy. Stacks Goudkamp can guide you through the complex policy documents, regulations and forms to ensure that you receive the maximum entitlements available to you.
If you would like to find out how we can help with your potential claim please contact Karina Heywood of our office for a free assessment of your superannuation on 1800 46 8362.
Written by Karina Heywood
Karina Heywood is the Team Leader of the Superannuation Team at Stacks Goudkamp. Karina has experience working for clients in superannuation and TPD claims.